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PharmaCielo Announces Creso Pharma's Receipt of Australian Court Approval to Convene Meeting of Shareholders
PharmaCielo Announces Creso Pharma's Receipt of Australian Court Approval to Convene Meeti...
About this update from Pharmacielo Ltd.
[{"type":"text","content":"\n\n\n\nPharmaCielo Announces Creso Pharma's Receipt of Australian Court Approval to Convene Meeting of Shareholders\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\nCanada NewsWire\nTORONTO, Oct. 2, 2019\n\n\n\nPharmaCielo's acquisition of Creso Pharma will establish a global medicinal cannabis company, positioned to rapidly develop new markets and grow sales in the expanded footprint served by the combined company.\n TORONTO, Oct. 2, 2019 /CNW/ - PharmaCielo Ltd. (\"PharmaCielo\" or the \"Company\") (TSXV:PCLO), is pleased to announce key developments in respect of its friendly acquisition of Australian Securities Exchange (\"ASX\") listed Creso Pharma Limited (\"Creso Pharma\") originally announced on June 6, 2019. Creso Pharma has informed the Company that it has received approval from the Supreme Court of Western Australia (the \"Court\") to convene meetings of its shareholders and listed optionholders (the \"Meetings\"), and if thought fit, to approve the Schemes of Arrangement whereby PharmaCielo would acquire all of the issued and outstanding shares and listed options of Creso Pharma (the \"Schemes of Arrangement\"). The Meetings will be held on November 11, 2019, beginning at 10:00am (Perth time).\n\n \n \n\n \nThe board of directors of Creso Pharma continues to unanimously recommend that Creso Pharma Shareholders and the Creso Pharma Optionholders vote in favour of the proposed Schemes of Arrangement, in the absence of a superior proposal for Creso Pharma.\nDavid Attard, CEO of PharmaCielo commented, \"PharmaCielo's acquisition of Creso Pharma, creates a combined company that has operational excellence across the value chain. The quality and scale of PharmaCielo's cultivation and extraction compliments Creso Pharma's product development and extensive developed global sales channels. With the Creso Pharma acquisition and our recently announced agreement to export CBD into the United States, 2020 is going to be an exciting year for PharmaCielo shareholders.\"\nPharmaCielo expects that the combined company will be w...