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PharmaCielo Cannabis Co. Narrows Net Loss By 31% YoY In Q1, CEO Says Cost Reduction Efforts Showing Results

PharmaCielo Ltd. (TSXV:PCLO) (OTC:PCLOF) announced its financial results on Thursday for the fourth quarter and year ended December 31, 2023, as well as for the first quarter ended March 31, 2024. The Canadian parent of Colombia’s cultivator and producer of dried flower and medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S., also said that effective as of July 3, 2024, its principal regulator, the Ontario Securities Commission has revoked its failure to file a cease trade order that was issued on May 7, 2024, due to the delay in filing its audited annual consolidated financial statements for the year ended December 31, 2023. “Our team has been unwavering in their efforts to drastically reduce costs and optimize operations while expanding our sales reach," said Marc Lustig, chairman and CEO of PharmaCielo. "The global landscape for cannabinoid-based drugs and therapeutics is expanding, ...