Canadian Company PharmaCielo Ltd Could Be the First to Grow Legal Pot in Colombia

If illicit pot plants flourishing covertly in the Colombian countryside represent the marijuana industry’s past, then Canada’s commercial-scale medical licensing system represents its future.

PharmaCielo Ltd., a privately held medical marijuana producer with global ambitions, is hoping to capitalize on both those traditions.

The company, which has board members from U.S. big tobacco and big pharma, is headquartered in Canada — a decision made due to this country’s sophisticated medical cannabis regulations, friendly financial markets and growing base of accountants, lawyers and bankers with cannabis expertise.

But for production, it’s focused on Colombia, where it is hoping to become the first government-approved marijuana producer following the country’s decades-long battle against drug trafficking.

PharmaCielo set out to lobby the Colombian government to consider legalized medical marijuana shortly after the company was founded in 2014.

“Here’s an opportunity to transform, over the next decades, the image of Colombia — a country with...

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