• In the first nine months of 2022, PharmaCielo has made shipments to 23 customers in nine countries, with continued growth expected for 2023.
• The Company has more than doubled Revenue to $3.8 million in the first nine months of 2022, compared to the first nine months of 2021.
• Consistent progress on streamlining the business, while investing in revenue-generating sales functions. SG&A expenses reduced by over 40% in the first nine months of 2022 vs. the same period in 2021, with further reductions expected.
• PharmaCielo’s previously announced non-brokered private placement of debenture units will generate $6 million in additional capital through the end of Q1, 2023.
• PharmaCielo has applied to the TSX Venture Exchange to extend the term of certain common share purchase warrants originally issued on November 20, 2020.

All figures in Canadian dollars ($) unless otherwise specified

TORONTO and RIONEGRO, Colombia, Oct. 31, 2022 /CNW/ – PharmaCielo Ltd. (“PharmaCielo” or the “Company“) (TSXV: PCLO) (OTCQX: PCLOF), the Canadian parent of Colombia’s premier cultivator and producer of dried flower and medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S., today announced financial results for the third quarter ended September 30, 2022. The Company also announced that its board of directors has appointed BDO Canada LLP as the new independent registered auditor of PharmaCielo.

Management Commentary

Bill Petron, Chairman and CEO of PharmaCielo commented, “Our team has successfully implemented the turnaround plan we outlined for shareholders when I joined as CEO in August of last year. In the first nine months of 2022, our business development group has initiated shipments to 23 customers in nine countries, with a robust pipeline that we fully expect will translate into significant growth in 2023 both with new partners and existing ones. Concurrently, our finance and operating teams have worked together to streamline the business, cutting SG&A expenses by more than 40% over the past nine months, with a focus on the elimination of unnecessary legacy overhead, and an eye to reinvesting some of those savings in revenue-generating functions. 2023 is set to be a breakout year for PharmaCielo, as international markets continue to open, we achieve EU-GMP certification for our extracted and dried flower products, and as our team continues to execute.”

Summary Financials

• PharmaCielo had cash equivalents of $0.4 million at September 30, 2022, compared to $5.3 million at December 31, 2021. On August 30, 2022, the Company announced that its previously disclosed non-brokered private placement of debenture units was oversubscribed, with a total of $15.1 million raised or committed. This financing will generate $6 million in additional capital in equal monthly instalments through the end of Q1 2023, subject to regulatory approval including that of the TSX Venture Exchange.
• For further detailed information and analysis, please see the financial statements and management’s discussion and analysis for the period ending September 30, 2022, as posted at sedar.com and pharmacielo.com

Summary of Recent Developments

Strengthening the Company’s sales team to support its go-to-market strategy: 

PharmaCielo has grown its global business development organization; recruited Technical Business Developers in Europe and appointed a President of Sales. The team has already made significant early progress, with sales to Argentina, Brazil, Colombia, the Czech Republic, Uruguay, and Spain, as well as progress in markets such as Germany, Mexico, and Poland.

Streamlining the business to minimize operating costs: 

In the three months ended September 30, 2022, the Company reduced its Adjusted EBITDA loss from $4.2 million to $2.5 million. Management continues to focus on reducing discretionary expenses to lower the Company’s use of cash and ensure a leaner organization with a lower cost base, while continuing to invest in the sales team, to drive top line growth.

Preparing for dried flower export: 

In February 2022, the Colombian government passed regulation to enable dried flower export. With PharmaCielo’s upstream and downstream scale and quality, the Company is uniquely positioned to be a formidable competitor with psychoactive flower currently being imported into the EU and other markets from Canada and other producing countries. On September 15, 2022, PharmaCielo announced that it had made its first shipment of dried flower to the Czech Republic, representing the Company’s first shipment of medicinal grade dried flower into the EU. PharmaCielo continues to expect additional dried flower trial shipments to begin before the end of 2022 and commercial shipments to start in early 2023. The Company has taken the necessary steps to ensure psychoactive flower and extract quotas are in place for 2022 and 2023 exports. On September 14, 2022, PharmaCielo announced that it had received a five ton quota to grow THC-dominant cannabis strains for export as dried flower to support the fulfillment of current sales agreements, beginning in early 2023.

Solidifying the path to EU-GMP certification: 

PharmaCielo is currently working towards EU-GMP certification of all of its extracted products. Management expects the Company to achieve certification in early 2023. This will better position PharmaCielo to sign larger, longer term supply agreements with global pharmaceutical and cosmetics customers.

PharmaCielo plans to initiate the process to obtain EU-GMP certification for its dried flower in Q1 2023. Although the Company anticipates that certification may take up to 12 months, this certification is highly respected by global customers and being EU-GMP certified for its psychoactive flower will be an important differentiator for PharmaCielo.

Successfully re-focused the Company’s product strategy: 

With a growing business development organization, and the short-term potential to sell dried flower into several markets globally, management has re-focused PharmaCielo’s product strategy to emphasize THC broad-spectrum products, as well as dried flower. These products are expected to have long-term high-margin profiles that are more sustainable than CBD isolate, The Company has had several recent wins, including: a sales agreement with a Brazilian Phyto-therapeutic customer for a proprietary CBD derivative formulation; a shipment of CBD full spectrum oil to another Brazilian customer; a shipment of 300kg of CBD Full Spectrum Oil to a Spanish pharmaceutical company; and an agreement to supply THC final products to be commercialized in Germany. Most recently, PharmaCielo received ICANN G.A.P & GACP Certifications, which open commercial access to the Israeli market. The Company expects to begin shipping dried flower to Israel in early 2023.

Warrant Extension

PharmaCielo has applied to the TSX Venture Exchange (the “TSXV”) to extend the term of 9,007,200 common share purchase warrants (the “Warrants”) originally issued on November 20, 2020. Subject to the approval of the TSXV, the expiry dates of the Warrants will be extended as follows:

Number of Warrants: 9,007,200 (today), 10,000,000 (originally issued)

Original Expiry Date of Warrants: November 20, 2022

New Expiry Date of Warrants: November 20, 2024

Exercise Price of Warrants: $0.65

Appointment of BDO Canada LLP as Auditor

At the request of the Company, the Board of Directors has received the resignation of MNP LLP (“MNP“) as independent registered auditor of the Company and has appointed BDO Canada LLP (“BDO“) as the new independent registered auditor of PharmaCielo, effective October 4, 2022, until the close of the Company’s next Annual General Meeting. Additional capabilities and regional experience of BDO Canada and its component auditor BDO Colombia will provide PharmaCielo with enhanced audit committee oversight.

There were no reservations in MNP’s audit reports for any financial period during which MNP was the Company’s auditor. There are no “reportable events” (as the term is defined in National Instrument 51-102 – Continuous Disclosure Obligations) between the Company and MNP.

In accordance with National Instrument 51-102, the Notice of Change of Auditor, together with the required letters from MNP and BDO, have been reviewed by the Company’s Audit Committee and have been filed on SEDAR.

About PharmaCielo

PharmaCielo Ltd. (TSXV: PCLO, OTCQX: PCLOF) is a global company, headquartered in Canada, with a focus on ethical and sustainable cultivating, processing and supply of all natural, pharmaceutical-grade medical dried cannabis flower and cannabis products to large channel distributors. PharmaCielo’s principal (and wholly owned) subsidiary is PharmaCielo Colombia Holdings S.A.S., headquartered at its cultivation and processing center located in Rionegro, Colombia.

The board of directors and executive team of PharmaCielo are comprised of a diversely talented group of international business executives and specialists with relevant and varied expertise. PharmaCielo recognized the significant role that Colombia’s ideal location plays in building a sustainable business in the medical cannabis industry, and the Company, together with its directors and executives, is executing on a business plan focused on supplying the international marketplace.

Forward-Looking Statements

This news release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as “expects”, “is expected”, “intends”, “anticipates”, “believes”, or variations of such words and phrases or state that certain actions, events or results “may” or “will” be taken, occur or be completed or achieved. Forward-looking statements in this news release include, without limitation, statements regarding the issuance of the debenture units, including the timing and completion of any future issuances thereof.

The forward-looking statements in this news release are necessarily based on assumptions, including assumptions with respect to PharmaCielo’s ability to obtain necessary approvals for the issuance of the debenture units.

Forward-looking statements can be affected by known and unknown risks, uncertainties and other factors, including changes to PharmaCielo’s development plans, the failure to obtain and maintain all necessary regulatory approvals relating to the export of cannabinoid products and the import of these products into other countries, TSX Venture Exchange approval, the inability to export or distribute commercial products through sales channels as anticipated due to economic or operational circumstances, risks associated with operating in Colombia, fluctuation of the market price for the Company’s products, risks associated with global economic instability relating to COVID-19 or other developments, risks related to retention of key Company personnel, currency exchange risk, competition in PharmaCielo’s market and other risks discussed or referred to under the heading “Risk Factors” in PharmaCielo’s Annual Information Form for the financial year ended December 31, 2019, which is available at www.sedar.com. Accordingly, readers should not place undue reliance on forward-looking statements. Except as required by law, PharmaCielo undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE PharmaCielo Ltd.

For further information: Ian Atacan, Chief Financial Officer, +1 416-562-3220, [email protected]; Media and Investor Inquires: [email protected]

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

VANCOUVER, BC / ACCESSWIRE / March 29, 2022 / Franchise Global Health Inc. (“Franchise Global” or the “Company”) (TSXV: FGH) is pleased to announce that the Company’s shares will commence trading at market open today on the TSX Venture Exchange under the symbol “FGH”. In addition, Clifford Starke, Executive Chairman and CEO of Franchise Global and his team will celebrate the Company’s new listing on the TSX Venture Exchange and open the market.

Franchise Global Executive Chairman and CEO, Clifford Starke, said: “We are extremely pleased to have successfully completed the Company’s Qualifying Transaction last week and to be opening the TSX Venture Exchange today. After an extensive period of preparation, we are now a publicly-traded, fully‑integrated cannabis company which has a clear focus on the European opportunity.

“As we enter this next stage of growth as a public company, we are confident in the prospects of the business. We would like to thank our shareholders for their continued support and we look forward to the road ahead and continued shareholder value creation.”

The listing of the common shares of the Company follows the completion of its “Qualifying Transaction”, as such term is defined under the policies of the TSX Venture Exchange, on March 25, 2022.

About Franchise Global
Franchise Global, through its subsidiaries, is a multi-national operator in the medical cannabis and pharmaceutical industries, with principal operations in Germany and with operations, assets, strategic partnerships and investments internationally. Franchise Global’s business objective is to develop a fully-integrated, leading European medical cannabis business, with the goal of providing high-quality pharmaceutical grade medical cannabis to distribution partners and, ultimately, to patients, at competitive prices.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction, including in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Cautionary Statement Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws, including without limitation statements regarding the business of Franchise Global and its prospects. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information is based on management’s current expectations, estimates, beliefs and/or opinions and is based on information currently available to them (including information obtained from third party industry analysts and other third-party sources) and on assumptions they believe not to be unreasonable in light of all of the circumstances. By its nature, forward-looking information is subject to both known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and uncertainties include, without limitation, risks relating to general economic conditions, counterparty risk, regulatory factors, the financial markets generally and risks associated with growth and competition. Accordingly, readers are cautioned to not place undue reliance on forward-looking information. Please refer to the filing statement of the Company available on the Company’s SEDAR profile at www.sedar.com for more details on the risks and uncertainties faced by Franchise Global. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement, and the Company undertakes no obligation, and does not intend, to update any forward-looking information contained in this news release, whether as a result of new information, future developments, or otherwise, except as otherwise required by applicable law.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

SOURCE: Franchise Global Health Inc.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

VANCOUVER, British Columbia, Feb. 10, 2022 (GLOBE NEWSWIRE) — Simply Better Brands Corp. (the “Company” or “Simply Better Brands”) (TSX Venture: SBBC) (OTCQB: PKANF) is pleased to announce that, further to its news release dated February 7, 2022, the Company intends to increase the size of the non-brokered private placement (the “Offering“) to up to 580,046 units of the Company (the “Units“) at a price of CAD$4.31 per Unit for aggregate gross proceeds of up to approximately CAD$2,500,000. The net proceeds of the Offering will be used by the Company to repay debt and for working capital. No commissions or fees are payable in connection with this Offering.

Each Unit will consist of one common share in the capital of the Company (a “Common Share“) and one-half of one Common Share purchase warrant (a “Warrant“). Each whole Warrant will entitle the holder thereof to purchase one Common Share at a price of $5.06 per Common Share (the “Warrant Exercise Price“) at any time up to 4:00 p.m. (Calgary time) on or before two years following the closing date of the Offering.

The completion of the Offering will be subject to acceptance of the Offering by the TSX Venture Exchange. Closing of the Offering is expected to occur on or about February 18, 2022, subject to satisfaction of all closing conditions. The Units, including all underlying securities thereof, will have a hold period of four months and one day from the date of issue.

About Simply Better Brands Corp.

Simply Better Brands Corp. leads an international omni-channel platform with diversified assets in the emerging plant-based and holistic wellness consumer product categories. The Company’s mission is focused on leading innovation for the informed Millennial and Generation Z generations in the rapidly growing plant-based, natural, and clean ingredient space. The Company continues to focus on expansion into high-growth consumer product categories including CBD products, plant-based food and beverage, and the global pet care and skin care industries. For more information on Simply Better Brands Corp., please visit: https://www.simplybetterbrands.com/investor-relations.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

Simply Better Brands Corp.
Brian Meadows
Chief Financial Officer
+1 (855) 553-7441
[email protected]

Forward-Looking Information

Certain statements contained in this news release constitute “forward-looking information” ‎and “forward looking ‎statements” as such terms are used in applicable Canadian securities ‎laws. Forward-looking statements and ‎information are based on plans, expectations and ‎estimates of management at the date the information is provided ‎and are subject to certain ‎factors and assumptions, including, among others, that the Company’s financial ‎condition and ‎development plans do not change as a result of unforeseen events, the impact of the COVID-19 ‎‎pandemic, the regulatory climate in which the Company operates, the Company’s ability to ‎execute on its ‎business plans, distribution plans, reliance on a consistent supply chain, and ‎claims relating to the efficacy and results of the Company’s products. Specifically, this news ‎release contains forward-looking statements relating to, but not limited to, the Company’s closing of the Offering, receipt of regulatory approval for the Offering, use of proceeds of the Offering. ‎

Forward-looking statements and information are subject to a variety of risks and uncertainties ‎and other factors ‎that could cause plans, estimates and actual results to vary materially from ‎those projected in such forward-‎looking statements and information. Factors that could cause ‎the forward-looking statements and information in ‎this news release to change or to be ‎inaccurate include, but are not limited to, changing consumer preferences, the ‎impacts of ‎COVID-19, that the Company’s financial condition and development plans change, ability to ‎obtain ‎necessary regulatory approvals and product viability and risk, as well as the other risks ‎and uncertainties ‎applicable to the Company and the industries in which it operates, and as set ‎forth in the Company’s annual ‎information form available under the Company’s profile at ‎www.sedar.com. ‎

There is no representation by the Company that actual results achieved will be the same in ‎whole or in part as ‎those referenced in the forward-looking statements and the Company does ‎not undertake any obligation to update ‎publicly or to revise any of the included forward-‎looking statements, whether as a result of new information, ‎future events or otherwise, except ‎as may be required by applicable securities law.‎

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in the United States or in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under securities laws of any such province, state or jurisdiction. The securities referenced herein may not be offered or sold in the United States except in transaction exempt from or not subject to the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws. This news release is not to be disseminated in the United States.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

MONTREAL, Sept. 2, 2021 /CNW/ – Cannara Biotech Inc. (“Cannara” or the “Company”) (TSXV: LOVE) (OTCQB: LOVFF) (FRA: 8CB), a vertically integrated producer of premium-grade cannabis and derivative products with two Quebec-based mega cultivation facilities spanning over 1,650,000 sq. ft., today announced it has received an amendment of its License from Health Canada, permitting the sale of Cannabis 2.0 products for which the Company intends to use to commercialize hash and other solventless concentrates, solvent-based concentrates, vaporizers, tinctures and topicals.

Cannara is excited to announce the first expansion of its Nugz product line: OId School Hash and Ice Water Hash. These two products will first be launched in Quebec and have been specifically formulated for the Quebec market to provide quality hash that contains less than 30% THC. Both products are expected to be available to consumers in the Fall and will be offered in rotating genetics to provide a choice of flavours, terpenes and cannabinoid concentrations from the company’s library of rare strains.

Nugz Old School Hash is a traditional hash produced using age-old sieving methods and drawn from rare cannabis strains, dry-sifted, gently heated, and pressed into a consistent, sticky, malleable resin. Old School Hash will be available in three-gram bars.

Nugz Ice Water Hash is a bubble hash derived from carefully selected single-source THC and CBD indoor-grown whole bud, extracted through ice water to deliver true-to-strain terpene profiles. Ice Water Hash will be available in one gram temple balls.

“Quebec is our primary target market and our immediate focus was to develop, for Quebec, a hash product line that offers quality products while respecting the current regulation of containing no more than 30% THC,” said Nicholas Sosiak, Chief Financial Officer. “The launch of our new hash line is an incredible milestone for the Cannara team, following many months of extensive research and development to bring these products to life.”

Cannara reaches new Canadians through expansion to Ontario and Saskatchewan

Building on its success in the Quebec market, Cannara has expanded to Ontario and Saskatchewan, extending its reach to a new segment of consumers and marking a significant milestone in the Company’s mission to become a leading Canadian cannabis producer. Dried flower and pre-roll products from Cannara’s existing Tribal and Nugz lines are currently available at cannabis retailers across Saskatchewan, with the existing Tribal, Orchid CBD and Nugz product lines expected to launch in Ontario starting mid-September 2021.

About Cannara Biotech Inc.

Cannara Biotech Inc. (TSXV: LOVE) (OTCQB: LOVFF) (FRA: 8CB) is a vertically integrated producer of premium-grade cannabis and cannabis-derivative products for the Quebec and Canadian markets. Cannara owns two mega Quebec-based facilities spanning over 1,650,000 sq. ft., providing the Company with 125,000kg of potential annualized cultivation output. Leveraging Quebec’s low electricity costs, Cannara’s facilities produce craft cultivated premium-grade cannabis products at an affordable price. For more information, please visit cannara.ca.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding “Forward-Looking” Information

This information release contains certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company’s current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Cannara Biotech Inc.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.