PharmaCielo Adds Experienced Senior Leader to Executive Team
Henning von Koss – a proven 30-year veteran of the global pharmaceutical, chemical and healthcare industries – named President to focus on scaling international operations
TORONTO, May 4, 2020 /CNW/ - PharmaCielo Ltd. ("PharmaCielo" or the "Company") (TSXV: PCLO, OTCQX: PCLOF), is pleased to announce the appointment of Mr. Henning von Koss to the new role of President, overseeing all day-to-day operations and project development with immediate effect. Mr. von Koss will remain on the board of directors of PharmaCielo.
Mr. von Koss's career spans over 30 years' international experience in various sectors and includes senior executive roles with global chemical /pharmaceutical giant Bayer, large health managed organizations as well as manufacturing and fashion retail companies. Mr. von Koss has spent his career managing operations primarily in Latin America and Europe, with experience in several countries, including Brazil, Colombia, Venezuela, Germany and Poland.
"On our Q4 conference call last week I mentioned that we were in the final stages of adding an experienced senior executive to the team, and I am very pleased to announce the appointment of Henning von Koss to the role of President, effective today," commented David Attard, CEO. "With a robust agenda ahead for 2020 we identified the need for a proven leader with deep experience in Latin America and Europe, specifically to ensure our processing and extraction capabilities come online in an efficient manner, to assist with our sales and product strategy particularly as we grow in Europe and to ensure we are ready to scale further in 2021. Henning is a known quantity, having made several key contributions to the Company's development as a member of the board of directors and as an individual I have heavily relied on since becoming CEO. I have been consistently impressed by his strategic contributions, influenced by extensive Latin American operational experience in the health care sector and product manufacturing and I know he will help us ensure that we are on track to deliver results this year, while preparing for further growth in 2021 and beyond."
Mr. von Koss stated, "I am grateful for the opportunity to join PharmaCielo's executive team and support David in this endeavour. Our tremendous agricultural cost advantage, coupled with our extraction and processing capabilities, position us as the ideal long-term supplier to the industry. Recently, in a challenging environment PharmaCielo successfully closed an important capital raise. Now our priorities are very clear, together with the executive team, we must accelerate the creation of a network of global B2B customers who will benefit from the quality of our products and potentially generate revenue for the Company, while quickly and efficiently accelerating our production output to match."
Mr. von Koss received a bachelor's degree in business administration from Pontificia Universidade Catolica in São Paulo, Brazil. He has dual Brazilian / German nationality and is fluent in five languages, German, Portuguese, English, Spanish and Polish.
In relation to his appointment as President, Mr. von Koss was granted 1,500,000 stock options ("Stock Options") each exercisable for one common share (Common Share") of the Company at an exercise price of $1.02, subject to the rules of the TSX Venture Exchange and the Company's Stock Option Plan. 500,000 of the Stock Options vest immediately and 1,000,000 will vest subject to the Company's achivement of certain milestones to be determined by the board of directors. The Common Shares underlying the Stock Options are subject to a four month hold period.
About PharmaCielo
PharmaCielo Ltd. (TSXV: PCLO, OTCQX: PCLOF) is a global company, headquartered in Toronto, Canada, focused on ethical and sustainable processing and supplying of all natural, medicinal-grade cannabis oil extracts and related products to global markets through large channel distributors. PharmaCielo's principal (and wholly owned) subsidiary is PharmaCielo Colombia Holdings S.A.S., headquartered at its nursery and propagation centre located in the leading agricultural region of Rionegro, Colombia.
The boards of directors and executive teams of both PharmaCielo and PharmaCielo Colombia Holdings 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 will 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.
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.
Forward Looking Statements:
Certain statements contained in this news release, such as those relating to expansion and acceleration of processing and extraction capacity, expected growth in sales in Europe, further growth and increased scalability in 2021, the Company's ability to create a network of global B2B customers, the Company's ability to become a long-term supplier in the industry, and the vesting of Sotck Options subject to the Company achieving certain milestones may contain "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including the ability to obtain all necessary governmental regulatory and TSXV approval related to the exportation of PharmaCielo's CBD products from Colombia, that the Company's financial condition and development plans do not change as a result of unforeseen events, the Company's ability to produce its cannabis products and generate revenue, the Company's ability to achieve its 2020 goals, the Company's ability to achieve milestones once established, enabling Stock Options to vest and management's ability to execute its business plan. Forward-looking information is 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 information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that the Company's financial condition and development plans change, failure to obtain necessary TSXV or applicable government regulatory approvals, the Company is unable to export or distribute commercial product to its sale channels due to economic or operational circumstances, risks associated with operating in Colombia, risks associated with global economic instability relating to COVID-19 and currency exchange risk, as well as the other risks and uncertainties applicable to cannabis producing companies and to the Company. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
SOURCE PharmaCielo Ltd.
David Gordon, Chief Corporate Officer, +1 416-864-6116, www.PharmaCielo.com; Media Relations: International: Gal Wilder, Cohn & Wolfe, +1 647-259-3261, [email protected]; Colombia: María Paula Peña Fdz., SPR GROUP S.A., PBX: 57-1 2877234, [email protected]; Investor Inquiries: [email protected]
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