PharmaCielo Mexico Salutes Mexican Senate for Advancing Cannabis Legalization

Published: November 20, 2020

PharmaCielo Mexico Salutes Mexican Senate for Advancing Cannabis Legalization

PharmaCielo Ltd. and MINO Labs S.A. de C.V., the founders of PharmaCielo S.A. de C.V. (PharmaCielo Mexico), congratulate Mexican Senate members for advancing the much-needed cannabis legislation and subsequent reform by voting to move forward the legalization bill, which includes provision for import of medicinal extracts and products.

David Attard, CEO of PharmaCielo Ltd., said, “The recent vote is an important development and positive momentum toward bringing cannabis reform to the finish line by the mid-December deadline. The partnership we established with MINO Labs last year as PharmaCielo Mexico is a precursor to what we expect will become an important and vibrant market for cannabis-derived health and wellness products, for which we aim to become a primary supplier of high-quality medicinal-grade oils and isolates.”

Manuel Cosme Odabachian, CEO of MINO Labs, stated, “Mexican lawmakers made it loud and clear today that adult cannabis usage should be legalized. The Senators’ votes in favor of the new bill are a huge step forward and a development welcomed by both end-users and industry participants. For the past 20 years, MINO Labs has been a leading specialty supplier and distributor of pharma-grade products in Mexico. Together with PharmaCielo we have built a great infrastructure to provide the Mexican market with top-notch cannabis extract product offerings – and we are ready to deliver!”

PharmaCielo and MINO Labs founded PharmaCielo Mexico last year as a joint venture. The purpose of the joint venture is to bring PharmaCielo’s high-quality cannabis extracts and derivative products from its Colombian cultivation and processing centre to the Mexican market by leveraging MINO Labs’ extensive experience and broad presence in the country’s pharma distribution space. Upon completion of the legislative process, PharmaCielo Mexico will commence the sale and distribution of medicinal cannabis products, including those for wellness and lifestyle segments, in Mexico.