May 19, 2024
General News

Canada’s PharmaCielo Proposes Marijuana Extract Farm in Antioquia

Toronto-based PharmaCielo announced February 3 that it has petitioned Colombia’s Ministry of Health and the National Council on Narcotics for rights to build a marijuana farm and cannabis extract plant in the Medellin suburb of Rionegro, Antioquia.

The enterprise would produce oil extracts that could be used for elaboration of drugs for treating cancer, epilepsy and sleeping disorders, for both domestic and export markets, according to the company.

The petition from PharmaCielo “comes after President Juan Manuel Santos signed the regulatory Decree 2467 on December 22, 2015 whereby a license would be necessary for cultivation, processing, research and development and export of cannabis for scientific and medical” applications, according to a press statement from PharmaCielo.

“Our goal is to become the leading provider of oil extracts of medicinal high quality cannabis grown naturally — and there is no better location for it than Colombia,” said Jon Ruiz, director and CEO of PharmaCielo Ltd.

“Given the equatorial location, this country and its abundance of microclimates suitable for cultivation [means that] there is no doubt that Colombia will play a major role in this international industry,” Ruiz added.

“You could say that from the economic point of view, Colombia is the most favorable in the world to produce large quantities of  high quality, low cost cannibis,  largely due to its experience in the flower industry, its skilled work force, the environmental conditions and the support of government.

“The actions of the government of Colombia demonstrate not only an outstanding commitment to the development of the Colombian economy, but also to the safety and welfare of the Colombian people. We would be delighted to be part of this new economic sector and we believe that with our business plan, we will become a trusted partner of the government,” he concluded.

The Ministry of Health and the National Council on Narcotics are reviewing applications for licenses for marijuana cultivation and processing, the company added.

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