Canada-based PharmaCielo said it has made its first shipment of CBD isolate produced in its Rionegro, Colombia operations to nutraceuticals maker Creso Pharma in Switzerland.
PharmaCielo is in the process of acquiring Creso in a deal that marks the first takeover of a listed medical cannabis company in Australia. Creso is traded on the Australian Securities Exchange.
“PharmaCielo is the first medicinal cannabis company to commercially export cannabis-derived isolate from Colombia to Switzerland, the global capital of the pharmaceutical industry,” said David Attard, CEO at PharmaCielo Ltd., who noted the deal “also demonstrates the synergies between the company and CresoPharma that will be realized and augmented once the acquisition closes.”
PharmaCielo was recently granted the first commercial CBD isolate exporting permit from the Colombian Government. The company’s Rionegro unit, PharmaCielo Colombia Holdings S.A.S., is the largest cannabis producer in Colombia.
Listed on Canada’s TSX Venture Exchange, PharmaCielo also has operations elsewhere in South America, as well as in Canada, Mexico and Italy.
Creso Pharma makes cannabis- and hemp-derived products for human and veterinary use.
PharmaCielo also announced a multi-country sales agreement with Uruguay-based Laboratorios Adler through which it will supply both PharmaCielo-produced CBD isolate and Creso Pharma’s veterinary CBD feed range of products to Adler for distribution in Uruguay, Paraguay, Bolivia and Southern Brazil.