Canada-based PharmaCielo Ltd (OTC: PHCEF), one of the largest cannabis companies operating in Colombia, announced this week it's teaming up with Uruguay-based Laboratorios Adler to supply the latter with CBD isolate and oil extracts for veterinary use.
This is PharmaCielo’s first foray into the growing CBD-based animal treatment market, and gives the company a foothold in several Latin American countries including Uruguay, Paraguay, Bolivia and Southern Brazil.
As part of the sales agreement, PharmaCielo will also provide Adler with finished veterinarian products from Swiss-based Creso Pharma Ltd (OTC:COPHF), a company that develops, produces and distributes cannabis-based therapeutic products for humans and animals.
PharmaCielo recently announced plans to acquire Creso with the deal, pending shareholders’ vote, planned to close later in the fall.
“The agreement with Adler is a unique opportunity to expand PharmaCielo’s footprint in the Latin American market and specifically within the burgeoning CBD-based animal health treatment,” PharmaCielo CEO David Attard, told Benzinga. “This is a relatively untapped market that bears great growth and a healthy profit margin potential for early movers.”
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Photo by Javier Hasse.
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