- David Attard and Board of Directors reach mutual agreement under which David will step down as Chief Executive Officer and PharmaCielo board member, effective December 1st, 2020.
- Henning von Koss, currently President and a member of PharmaCielo's Board of Directors, formerly with Bayer and 30-year career as senior executive with operations focus, has been appointed CEO and will continue as a director.
TORONTO, Nov. 30, 2020 /CNW/ - PharmaCielo Ltd. ("PharmaCielo" or the "Company") (TSXV: PCLO) (OTCQX: PCLOF) announced that David Attard will step down as CEO and PharmaCielo board member effective December 1st, 2020 at which time Henning von Koss, current President, will become CEO to guide the company in its next chapter of growth.
"We have every confidence that Henning is well prepared to lead PharmaCielo into the future whilst meeting internal and external expectations," said PharmaCielo board Chair Simon Langelier. "We thank David for his leadership and continuing support of the company."
"Over the past six months as President my focus has been on strengthening core elements related to the high quality of our assets while keeping a low cost structure for the competitiveness of our product. Optimism and confidence are the words that best describe how I feel about having the opportunity to lead our team at PharmaCielo," says Henning von Koss, the incoming CEO. "The cannabis sector offers an unparalleled business opportunity and I believe PharmaCielo is in a unique position to play a leading role in that evolution."
Prior to his appointment as President of PharmaCielo Ltd., Mr. von Koss's career spanned 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. He has dual Brazilian/German citizenship and is fluent in five languages, German, Portuguese, English, Spanish and Polish.
Regarding his departure, David Attard commented, "I'm proud of the role I've played in helping PharmaCielo establish itself as an international cannabis player. I look forward to continuing to provide advisory support as the company transitions from necessary infrastructure development to global commercial leadership."
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., based at its cultivation and processing complex 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 press release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as, "expects", "is expected", "intends", "believes", or variations of such words and phrases or state that certain actions, events or results "may" or "will" be taken, occur or be achieved. Forward-looking statements in this news release include, without limitation, statements with respect to: the role that PharmaCielo will play in the evolution of the cannabis industry; and PharmaCielo's stage of development as a company. The forward-looking statements in this news release are necessarily based on assumptions, including, without limitation, assumptions with respect to: PharmaCielo's ability to execute its business plan as currently contemplated; PharmaCielo's ability to maintain its distribution contracts in good standing; and PharmaCielo's ability to obtain and maintain all licenses and approvals required to produce cannabis products. 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, but not limited to: changes to PharmaCielo's development plans; risks related to obtaining and maintaining all necessary regulatory approvals; the inability to distribute products through sales channels as anticipated due to economic or operational circumstances; risks associated with operating in Colombia; risks associated with global economic instability relating to COVID-19; 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.
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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: Giselle Díaz Bermúdez, SPR Group, + 57 310-859-5468, [email protected]; Investor Inquiries: [email protected]
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