GOLDEN, Colo., April 19, 2023 (GLOBE NEWSWIRE) -- Panacea Life Sciences Holdings, Inc. (OTCQB: PLSH) (“Panacea” or the “Company”), a Colorado-based manufacturing, research, and product development company in the natural health and wellness industry, announced today the execution of a distribution agreement with C.A.G. Global to expand its line of “seed-to-sale” CBD products into Guyana, South America.
Why Guyana?
Guyana is considered an emerging growth country poised for extensive growth due to its recent oil reserve discovery (GeoVane 2020). This discovery has and will continue to provide an economic boom to the previously disregarded country in South America, dwarfing their 2019 $5 billion GDP with the ability to produce an estimated 25 billion barrels of oil and natural gas by the end of the decade.
The timing for Panacea Life’s CBD brand launch in Guyana is ideal. According to C.A.G. Global Founder, Cort Gomes, “the CBD market is a new and exciting market which plays in directly with the government's vision for a greener Guyana. Our people will welcome a healthier path to wellness, and, for this reason, the CBD market will become one of the most booming markets in Guyana over the next coming years”.
Panacea will launch its full line of CBD topical and ingestible products in May 2023 through C.A.G. Global. In the country’s capital of Georgetown there are 15 large pharmacies and numerous convenience stores eager to provide Panacea products to its 300,000 citizens. As Panacea expands its reach globally, the Company intends to develop relationships with countries like Guyana that are embracing hemp and unlocking the true potential of cannabinoid research for medicinal use rather than just recreational use.
“We have seen early indications of a very strong market in South America, and we are excited to have C.A.G. Global join the Panacea team,” states Nick Cavarra, President of Panacea Life.
Because Panacea develops and manufactures all its CBD products in-house, the Company can provide an array of CBD products priced in accordance with the socioeconomics of Guyana to provide its citizens with an all-natural remedy for relief of common ailments like pain, sleep deprivation and anxiety.
Cavarra notes, “Our focus for 2023 is to pursue master distribution partners and introduce the Panacea Life assortment of CBD products to the world in order to help improve quality of life with natural, plant-based products.”
About Panacea Life Sciences Holdings, Inc.
Panacea Life Sciences Holdings, Inc. (PLSH) is a holding company structured to support the life sciences and health and wellness industries. Established in 2017, PLSH is a woman-owned and woman-led company. Its subsidiary, Panacea Life Sciences, Inc. (PLS) is dedicated to manufacturing, researching, and producing the highest-quality hemp-derived cannabinoid, functional mushroom, Kratom, and nutraceutical products for consumers and pets in the U.S.A. and globally. Panacea operates out of its 51,000 square foot, state-of-the-art, cGMP facility in Golden Colorado, focusing on natural plant-based extraction, manufacturing, research, testing and fulfillment services. Panacea operates in every segment of the manufacturing value chain from cultivation to finished goods and ensures its products with stringent GMP standards and testing protocols employed at every stage of the supply chain. Panacea also offers the purest natural remedies within its branded product lines for every aspect of life: PANA Health™, PANA Beauty®, PANA Sport™, PANA Pet®, PANA Pure® and PANA Life™. For more information, please visit www.panacealife.com.
About C.A.G GLOBAL.
Growing up in Georgetown, Guyana as the son of successful entrepreneurs and attorney-at-law, Cort Gomes always understood the value of hard work. Cort Gomes is currently a rising entrepreneur himself as the Owner/Operator of C.A.G. GLOBAL, a consulting and investing business founded in Georgetown with investments in real estate, mining and now distribution. His ability to make his clients feel at ease as well as his ability to think outside the box has earned him a stellar reputation among his clients. In just the last year, C.A.G. GLOBAL has managed twenty million Guyanese dollars in transactions. He attributes his success and continued growth to his strategic alliances, who appreciate his commitment to service. Gomes has enjoyed being a resident of Georgetown for the last three years after his remigration from the U.S. When he is not busy building his business, he enjoys working out, being in nature and spending time with his family.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, risks arising from supply chain disruptions or our ability to obtain raw materials as well as similar problems with our vendors, our ability to fulfill purchase orders on a timely manner, our ability to fully collect money for our purchase orders, the risk of customers returning our products, impact of the pandemic including new variants on our workforce, as well as those risks and uncertainties described by us in our annual report on Form 10-K for the fiscal year ended December 31, 2022 under the heading "Risk Factors". Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as may be required by law.
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