PharmaCielo Ltd (OTCMKTS: PCLOF) has released its Q2 2021 financial results and announced its Chairman Bill Petron as CEO of PharmaCielo. Following the appointment, Henning Von Koss has resigned as CEO of the company and director.
Henning von Koss stepped down.
Outgoing CEO Henning von Koss said, “While PharmaCielo is still in the early days of its commercial growth, since assuming the President role in early 2020 and as the CEO since December 2020, I have worked with our team to ensure the foundation required to support the Company’s success as a global provider of cannabinoid products and APIs was complete. As I pass the CEO role to Bill, I would like to thank the global PharmaCielo team for all their work over the past several months, as well as the rest of our board and shareholders.”
Over the past six months, the company has been focusing on diversifying and growing its customer base despite being in the early stages of commercial revenue growth. The company has so far diversified its client mix by value chain and position. In Q2, the company sold its product in 11 nations relative to only two last year.
Net sales dropped in Q2 2021
Net sales during the quarter were $1.121 million compared to $1.746 million in 2020. Net loss was $13.766 million or $0.1 per share compared to $14.038 million or $0.14. at the end of the quarter, the company had $11 million in cash and equivalents, and it closed an equity offering through a prospectus for $13.5 million in gross proceeds.
Petron said, “The global cannabis supply chain is growing and maturing rapidly and PharmaCielo’s targeted role within that supply chain is unique and of increasing importance. I look forward to realizing the massive potential I see to leverage PharmaCielo’s footprint in Colombia both to create a global leader that the country can be proud of.”
PharmaCielo Ltd (OTCMKTS: PCLOF) Release Q2 2021 Financial Results and Appoint New CEO
Post Views: 2 PharmaCielo Ltd (OTCMKTS: PCLOF) has released its Q2 2021 financial results and announced its Chairman Bill Petron...
AusCann Group Holdings Ltd (OTCMTS: ACNNF) Announces Loss of $8.64 Million in FY2021
Post Views: 4 AusCann Group Holdings Ltd (OTCMTS: ACNNF) has announced its audited financial results for fiscal 2021 ending June...
Emerald Health Therapeutics Inc. (OTCMKTS: EMHTF) Reports 23% YoY Revenue Increase in Q2 2021
Post Views: 5 Emerald Health Therapeutics Inc. (OTCMKTS: EMHTF) has announced its Q2 2021 and 1H 2021 financial results and...
Rubicon Organics Inc (OTCMKTS: ROMJF) Records Net Revenue of $4.6 Million in the Second Quarter of 2021
Post Views: 7 Rubicon Organics Inc (OTCMKTS: ROMJF) is a licensed organic cannabis producer that concentrates on the selling and cultivating...
Planet 13 Holdings Inc (OTCMKTS: PLNHF) Reported Revenues of $32.8 Million in the Second Quarter of 2021
Post Views: 28 Planet 13 Holdings Inc (OTCMKTS: PLNHF) is a top vertically integrated cannabis corporation that recently announced its second-quarter...
Indiva Ltd (OTCMKTS: NDAF) Records a Gross Revenue of $9.87 Million in the Second Quarter of 2021
Post Views: 3 Indiva Ltd (OTCMKTS: NDAF), one of Canada’s leading cannabis edibles producers, recently announced its operating and financial results...