May 19, 2024
Companies

PharmaCielo Wins 1st ‘Unrestricted’ Colombia License for Medical Marijuana

Toronto, Canada-based PharmaCielo announced October 24 that it has become Colombia’s first medical-marijuana producer to win a license to cultivate cannabis with “unrestricted” percentages of tetrahydrocannabinol (THC) and cannabidiol (CBD) alike.

As a result, PharmaCielo becomes “the world’s largest licensed producer,” according to the company, which has its marijuana nursery, propagation and processing center in the Medellin suburb of Rionegro. The company first won a Colombian manufacturing license in 2016.

“To say that we are excited is an understatement, as to date the Colombian government has issued licenses only for the cultivation of non-psychoactive cannabis containing little-to-no THC,” said Federico Cock-Correa, CEO of PharmaCielo Colombia Holdings.

“Receipt of the dual licenses for psychoactive and non-psychoactive cannabis containing THC and CBD, combined with the fact that we have Colombia’s only fully functional cultivation and processing facility inspected and approved by the government, allows PharmaCielo the opportunity to become Colombia’s first and leading producer of medicinal-grade oil extracts.”

The cultivation licenses that enable the propagation of the full range of cannabis varietals “enables the company to develop a complete vertical offering of standardized, medicinal-grade formulations containing all active elements, including levels of THC greater than +1.0%,” according to PharmaCielo.

“PharmaCielo is now positioned as Colombia’s first unrestricted producer of medicinal-grade oil extracts and related products and is capable of providing reliable, standardized relief and wellness formulas for patients in need, including those requiring higher levels of THC.”

The Rionegro facility includes 12.1 hectares (1.3 million square feet) of open-air greenhouses ready for cultivation. “The facility has been independently reviewed and certified by the government as part of overall licensing, and in the future, will supply plant seedlings to over 1,000 hectares (2,500 acres) of contract growers’ open-air greenhouses for final cultivation,” according to the company.

“Over the past year, since we were granted our initial license, we have invested considerable effort and resources into building the infrastructure required for cultivation and processing of cannabis oils as well as working together with rural communities to help build a new Colombian agricultural sector to join coffee and flowers,” added PharmaCielo president Patricio Stocker.

“We intend to immediately begin cultivation, processing and scientific testing of highly standardized, premium-quality cannabis oil extracts and related products demanded by the international marketplace. We expect to initiate sales and distribution of finished products to the global marketplace in 2018, to the benefit of all stakeholders,” Stocker added.

Earlier this year, the company announced a partnership agreement with Cooperativa Caucannabis (comprised of 63 indigenous farmers), based in the department of Cauca, which separately applied for a cultivation license for a new greenhouse facility to be jointly operated with PharmaCielo.

“The members of Cooperativa Caucannabis have since been certified by the government as independent small growers and expect the government’s response to their application in the coming days,” according to PharmaCielo.

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