Canadian Cannabis Company with Colombian Operations Raises $4mm

pharmacielo

PharmaCielo, a Canadian company with operations in Colombia and a goal to become “the world’s leading supplier of naturally grown and processed, standardized medicinal-grade cannabis oil extracts and related products” has raised over $4mm from 108 investors according to an SEC filing. According to the company’s website, the company was the first in Colombia to apply to become a licensed grower and processor and  has plans to file an application to export by mid-2017. PharmaCielo is targeting large channel distributors, finished goods manufacturers, research organizations and pharmaceutical companies and will sell either a branded product or private label product to its customers.

CEO Juan Manuel Ruiz, who resides in Colombia, served as president and chairman of the board of Philip Morris in Colombia for four years, managing director and previously director of marketing and sales of Philip Morris/Tabaqueira Portugal and marketing manager for Philip Morris Spain and was formerly group brand manager for Unilever Bestfoods in Spain. Chairman of the Board Simon Langelier also had a long career with Philip Morris International spanning over 30 years, including running the Colombian operations from 2010-2011. The website lists another 29 on the Board of Directors, in management or advising the company and its subsidiary, PharmaCielo Colombia Holdings S.A.S.

Breaking News by Alan Brochstein, CFA
Alan Brochstein, CFA
Based in Houston, Alan leverages his experience as founder of online communities 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email

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