Fincanna Capital Corp (OTCMKTS: FNNZF) Portfolio Company – The Galley Establishes Trident Distribution: Pharmacielo Ltd (OTCMKTS: PCLOF) Reports Of $2.654 Million In Revenues In 2020
Fincanna Capital Corp (OTCMKTS: FNNZF) portfolio company QVI Inc established Trident Distribution in California. Sonoma County, California based QVI Inc is conducting business as The Galley.
One-stop shop solution
Trident Distribution is a full-service CD (cannabis distribution) company. It will distribute licensed cannabis brands in the San Francisco Bay Area. The company will also extend sales support for brands at the dispensary level. It plays an essential role in connecting the brands to the customers through these two services. Trident extends The Galley production business as a one-stop-shop solution for out of state and domestic brands.
The Galley will accrue significant revenues from these services. It operates Trident as an independent profit centre serving The Galley customers, who are generated from its more than 35 brands, and other licensed brands in California. Trident recruited two experienced marketing and sales executives in the cannabis space to support its operations.
Pharmacielo Ltd (OTCMKTS: PCLOF) Posts $2.654 Million In 2020 Revenues.
Pharmacielo Ltd (OTCMKTS: PCLOF) reports robust growth of 237.5% YoY to $2.654 million in revenues 2020. Its cash equivalents and cash balance dropped by $4.8 million YoY to $8.9 million in 2020.
The company raised $13.5 million through a marketing equity offering on April 7, 2021. Pharmacielo’s CEO, Henning von Koss, said 2020 is a challenging year for the entire world. Therefore, Pharmacielo experienced significant challenges in conducting business operations. However, the company accomplished several milestones in its operations mainly in H2 2020.
Pharmacielo is continuing the same momentum in 2021 to promote growth. Henning streamlined its operations since joining the company in December 2020. He also strengthened the organizational structure on the sales side and completed PEC (Processing and Extraction Centre).
PEC helps the company with downstream and upstream technologies to provide various products like value-added CBD with higher THC content and THC free options. Pharmacielo focuses on economical products in its recently entered markets like the Brazilian, Swiss, and UK markets.
Pharmacielo plans to develop a sales organization to focus on global opportunities by inducting Marcelo Durante. He will head the global business development and sales. The demand for cannabinoids worldwide is growing at a fast pace.
Marcelo will contribute more than 20 years of worldwide experience in establishing a sales organization in the food extracts, nutraceutical, pharmaceutical, and fragrance industries.