PharmaCielo Announces Election of Directors - Welcomes Bill Petron, a Global Operations and Cannabis Veteran, as Chairman of the Board

• Most recently, Mr. Petron co-founded Alternative Medical Enterprises LLC, and co-led the company through its December 2020 merger with Verano Holdings LLC.

TORONTO and RIONEGRO, Colombia, June 10, 2021 /CNW/ - PharmaCielo Ltd. ("PharmaCielo" or the "Company") (TSXV: PCLO) (OTCQX: PCLOF), the Canadian parent of Colombia's premier cultivator and producer of medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S., today announced that all of the nominees listed in the Management Information Circular dated May 11, 2021, were elected as directors of the Company, as a result of a vote conducted at PharmaCielo's Annual General and Special Meeting, held on June 10, 2021 (the "Meeting"). The results of the vote are set out at the bottom of this news release.

Henning von Koss, CEO of PharmaCielo commented, "I would like to formally welcome Bill to PharmaCielo's board of directors. Over the last several months, PharmaCielo has completed one of the largest cultivation and extraction footprints in the world, developed a broad portfolio of high-quality products to market, and begun to grow its global sales pipeline. Bill brings a successful track record of scaling global manufacturing, logistics and medical cannabis operations that will add valuable insight and direction as we continue to scale the Company. With several recent additions both within senior management and at the board level, we now have the right team in place to execute on and support the growth we see ahead."

For a more detailed description of Mr. Petron's background and experience, please see PharmaCielo's news release published May 13, 2021, titled: PharmaCielo Announces Bill Petron, a Global Operations and Cannabis Veteran, to Stand for Election as a Nominee for Chairman of the Board.

Results of Vote

All other matters voted on at the Meeting were passed. Full results of the vote will be 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 processing and supplying of all natural, medicinal-grade cannabis oil extracts and related 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 centre 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 and climate play 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 press 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 with respect to: the insight and direction that will be provided to the Company by Mr. Petron's experience; that the Company will continue to scale and grow; and that the management and board of the Company will be able to execute and support the growth of the company. The forward-looking statements in this news release are necessarily based on assumptions, including assumptions with respect to: the TSXV approving Mr. Petron's election to the Board, PharmaCielo's ability to execute its business plan as currently contemplated, PharmaCielo's ability to obtain necessary regulatory approvals for the export of its products from Colombia and import of its products into other countries, sufficient demand for the Company's products, that any changes to cannabis legislation (including but not limited to Colombian and U.S. cannabis legislation) will not negatively impact the Company's business, that the Company will be able to locate and retain necessary personnel to achieve its business goals, PharmaCielo's ability to maintain its distribution contracts in good standing; the accuracy of PharmaCielo's projections regarding the market for cannabinoid products, and other assumptions that relate to the ability of the Company to scale or grow. Though management believes that its assumptions are reasonable in the circumstances, the actual results, performance or achievements of PharmaCielo's business may be materially different from any future results, performance or achievements expressed or implied by any forward-looking statements herein. 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, TSXV 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, 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 TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release. 

SOURCE PharmaCielo Ltd.