PharmaCielo Announces Appointment of Caroline Lenardon for Expansion of Retail Investor Relations Capacity

TORONTO, Dec. 18, 2020 /CNW/ - PharmaCielo Ltd. ("PharmaCielo" or the "Company") PCLO, the Canadian parent of Colombia's premier cultivator and producer of medicinal-grade cannabis oil, PharmaCielo Colombia Holdings S.A.S. today announced that the company has expanded investor relations support capacity with the appointment of Caroline Lenardon to provide investor relations services to the Company with a focus on retail investment.  The institutional investor market will continue to be supported by the existing contractor.

In consideration of the services to be provided by Ms. Lenardon, monthly fees will be incurred and the board of directors of the Company approved the grant to Ms. Lenardon of 100,000 stock options ("Stock Options") exercisable for common shares of the Company at a price of $2.18 for a period of three years from the grant date. The Stock Options vest one fourth immediately, one fourth at four months, one fourth at eight months and one fourth at twelve months, from the grant date, respectively.

About PharmaCielo

PharmaCielo Ltd. PCLOPCLOF 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.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE PharmaCielo Ltd.