Business
PharmaCielo Increases Cannabis Cultivation Through External Contractor to Meet Market Demand for Medicinal Extracts
PharmaCielo Increases Cannabis Cultivation Through External Contractor to Meet Market Dema...
About this update from Pharmacielo Ltd.
[{"type":"text","content":"\n\n\n\nPharmaCielo Increases Cannabis Cultivation Through External Contractor to Meet Market Demand for Medicinal Extracts\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO and RIONEGRO, Colombia, Aug. 13, 2020\n\n\n\nAdditional area under active cultivation expands PharmaCielo's immediate footprint by 32 percent to 1.6 million square feet with further expansion pending grower license approval Company activates first external cultivation contract with local grower Increased volumes contribute to expanded 360 tonne biomass processing capacity of the Company's new Processing and Extraction Centre TORONTO and RIONEGRO, Colombia, Aug. 13, 2020 /CNW/ - PharmaCielo Ltd. (\"PharmaCielo\" or the \"Company\") (TSXV: PCLO) (OTCQX: PCLOF), the Canadian parent of Colombia's premier cultivator and producer of medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S., announced today that it has activated its first external cultivation contract with a local grower. The contract, part of PharmaCielo's long-term external cultivation business growth strategy, provides the Company with a highly cost-efficient and flexible cultivation operation model which allows it to rapidly scale up production. \n\n \n \n \n \n \n \n\n \nThe enactment of the first medical cannabis farming contract will see PharmaCielo's cultivation immediately expanding by 32 percent to more than 1.6 million square feet (15 ha) with continued enlargement growing cultivated land to a total of 2.6 million square feet (24 ha), pending receipt by the contracted grower of their technical licensing for the additional area.  This represents a doubling of PharmaCielo's currently active 1.2 million square feet (12 h) cultivation, making it Colombia's largest combined medical cannabis grower and processor. \n\"As our 30,000+ square foot advanced Processing and Extraction Centre facility nears the technical completion necessary for GMP certification, we have been steadily increasing utilization and expanding processing capacity with the appropriate technology, processes and volume ...