PharmaCielo Ltd. (OTCQX:PCLOF) (TSXV:PCLO) , the Canadian parent of Colombia's premier cultivator and producer of dried flower and medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S. has made an initial shipment of CBD full spectrum oil containing THC to Extractions Solutions SL, a Spanish natural pharmaceutical company that specializes in the post-processing and refinement of cannabis derivatives. Extractions Solutions intends to use PharmaCielo's product to develop CBD derivatives to be produced in Spain, and distributed across Europe.

Bill Petron, CEO of PharmaCielo, stated, "We are pleased to announce our entrance into a new market, with the initial shipment of PharmaCielo API to Extractions Solutions, in support of their product development efforts. This serves to further expand our distribution network throughout Europe, building on our recent announcements that we will be bringing PharmaCielo products to the German and Polish medical cannabis markets. Our sales team has already made substantial progress in the first five months of 2022, and we expect to continue this trend through the rest of the year as we drive toward increased revenues and sustained profitability."

Dirk Eduard M. de Maeyer, executive director of Extractions Solutions, said his company was pleased to expand its product portfolio. "Extractions Solutions is an innovative, rapidly growing cannabinoid post-processor, refiner and manufacturer, with an established customer base across the European market. With a commitment to providing high quality products and custom solutions, as well as seed to solution traceability, PharmaCielo was a logical choice as we continue to build-out our product portfolio. PharmaCielo has the quality, consistency, sophistication and scale that we require of our API partners, and we look forward to continuing to advance the relationship as we seek to serve our customers across the EU, and globally," stated Maeyer.

Photo: Courtesy of Richard T on Unsplash

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