PharmaCielo Ltd. (TSXV:PCLO) – $7.80
PharmaCielo is a Canada-based cannabis company that focuses on processing and supplying natural, medicinal cannabis oil extract and related products to large channel distributors. The Company’s wholly-owned principal subsidiary is headquartered at its nursey and propagation center in Rionegro, Colombia. It currently has 139 hectares of total cultivation capacity and expects to complete the construction of its 24,757 sq. ft. GMP2 certified Research and Technology production and processing facility by the end of Q2/19. On January 19, the Company began trading on the TSX Venture Exchange.
Chemesis International Inc. has entered a binding letter of intent (LOI) to acquire 100% of La Finca Interacviva-Arachna Med SAS.
La Finca is a licensed cannabis company that operates in Colombia since October 2017.
“Chemesis is continuing its expansion into the Latin American market, a region the company believes is poised for international growth and expansion,” said Chemesis CEO, Edgar Montero.
“With the acquisition of La Finca, the company will acquire an asset in a country that is developing its cannabis industry for distribution around the world. We continue to execute our business plan that is focused on building long-term growth in key markets around the world,” he added.
Chemesis will acquire La Finca for CAD 13,500,000 in a combination of cash and common shares of the company. All stock issued will be subject to a 36-month phased lock-up period. The closing of the transactions contemplated by the LOI are subject to regulatory approval.
Chemesis believes that Colombia is a lucrative space to enter because it is quickly adapting cannabis regulations. They also believe it is ideal for harvesting because of its 12-hour sun cycle that occurs all year.
About Chemesis International Inc.
Chemesis is a global leader in the cannabis industry and currently operates in Puerto Rico and California. Chemesis has facilities in both Puerto Rico and California that allow for cost-effective production and distribution of its products.
In addition, Chemesis leverages exclusive brands and partnerships and uses the highest quality extraction methods to provide consumers with quality cannabis products.