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PharmaCielo says it has more than doubled revenue to $3.8 million in the first nine months of 2022.

PharmaCielo’s CEO claimed its business has made progress in several markets, including Germany, Israel, Brazil, Mexico, Poland, and now, the Czech Republic.

Extractions Solutions intends to use PharmaCielo's product to develop CBD derivatives to be produced in Spain and distributed across Europe.

The new law enables domestic production and marketing of non-psychoactive cannabis products, and further defines import and export rules.