PharmaCielo has partnered with CANNPRISMA - PHARMA to supply high-quality EU-GMP1 certified medicinal cannabis flower to the European market. PharmaCielo will provide GACP2 flower to CANNPRISMA, which will convert the flower to EU-GMP standards and distribute it directly from Portugal to European customers. CANNPRISMA is a Portuguese medical cannabis company founded in 2018 that encompasses all aspects of the production process, from cultivation to distribution and research. The company's main objective is to provide high-quality medicinal cannabis products that comply with GACP and GMP standards, and serve as a reference in the market, ultimately contributing to enhancing the quality of life for as many people as possible.
Bill Petron, CEO of PharmaCielo, said, "We are very pleased to announce this agreement to ship THC-dominant dried flower to the European market. Against a tough macro backdrop for all publicly traded cannabis companies, PharmaCielo has taken the right steps to ensure it is positioned to drive results and build value for shareholders as the sales team continues to deliver on its growing pipeline of opportunities."
Mr. Petron continued, "We strongly believe that companies who have access to Europe will benefit from a substantial shift in both medical demand and the potential for adult-use legalization, but it will take time. Our team has created a capital-light product introduction strategy to bring our THC-dominant flower to key markets in the EU. This approach learned from our experience in other global markets, ensures we are in the supply chain early without overcommitting to a market prematurely, which is a mistake that has been made by others in the industry. PharmaCielo has a structural cost advantage compared to any North American player currently shipping into the European market, with very high-quality products, unique strains, and a business model that is poised to rotate to cash flow positive as the revenue line continues to grow. Our team is very excited about the opportunities ahead of us over the next several quarters."
For more information:
PharmaCielo
investors@pharmacielo.com
www.pharmacielo.com