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PharmaCielo Announces Closing of Overnight Marketed Equity Offering for Gross Proceeds of $13.5 Million
PharmaCielo Announces Closing of Overnight Marketed Equity Offering for Gross Proceeds of...
About this update from Pharmacielo Ltd.
[{"type":"text","content":"\n \n \n \n PharmaCielo Announces Closing of Overnight Marketed Equity Offering for Gross Proceeds of $13.5 Million\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE\n \n UNITED STATES\n \n /\n \n \n \n \n \n All figures are in Canadian dollars ($) unless otherwise specified\n \n \n \n \n \n \n \n \n TORONTO\n \n and RIONEGRO,\n \n Colombia\n \n \n ,\n \n \n April 7, 2021\n \n \n /CNW/ - PharmaCielo Ltd. (\"PharmaCielo\" or the \"Company\") (TSXV: PCLO) (OTCQX: PCLOF), the Canadian parent of\n \n Colombia's\n \n premier cultivator and producer of medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S., is pleased to announce the closing of its previously announced overnight marketed offering (the \"Offering\") of common shares (the \"Common Shares\") from the treasury of the Company, for gross proceeds of\n \n $13,549,012\n \n , conducted through a syndicate of agents led by Cormark Securities Inc. and including Stifel GMP (together, the \"Agents\") inclusive of\n \n $50,000\n \n from a non-brokered portion of the Offering. The Company granted the Agents an option to purchase an additional 840,698 Common Shares of the Common Shares sold in the Offering (the \"Over-Allotment Option\"). A portion of the Over-Allotment Option has been exercised and is reflected as part of the gross proceeds as the Offering.\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Henning von Koss\n \n , CEO of PharmaCielo Ltd.\n \n \n \n , commented, \"The additional capital provided by the Offering puts PharmaCielo on solid footing to execute a focused strategic plan designed to leverage the Company's recently completed production facilities into results for shareholders. In the short-term, we are in the process of building a global sales organization through the addition of highly experienced technical business development professionals, with a mandate to close late-stage opportunities, grow our sales pipeli...