PharmaCielo Ltd. announced that it has received a purchase order for CBD Isolate as an API from a large Brazilian pharmaceutical company. The Customer is in the final stages of testing PharmaCielo's API in order to register PharmaCielo as its supplier. The Company anticipates that testing will be complete in Third Quarter of 2023, with commercial shipments to begin in by Fourth Quarter 2023.

PharmaCielo also announced that subject to regulatory approval, it has engaged the services of Independent Trading Group to provide market-making services in accordance with TSX Venture Exchange policies. ITG will receive compensation of CAD 7,000 per month for an initial term of three months, and will continue on a month-to-month basis thereafter unless terminated by either party. There are no performance factors contained in the agreement and ITG will not receive shares or options as compensation.

ITG and the Company are unrelated and unaffiliated entities and at the time of the agreement, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the Company.