Business
PharmaCielo Announces $15.0 Million Non-Brokered Private Placement of Debenture Units
PharmaCielo Announces $15.0 Million Non-Brokered Private Placement of Debenture Units ...
About this update from Pharmacielo Ltd.
[{"type":"text","content":"\n \n \n \n PharmaCielo Announces $15.0 Million Non-Brokered Private Placement of Debenture Units\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 All amounts expressed in Canadian dollars unless otherwise noted\n \n \n \n TORONTO\n \n and RIONEGRO,\n \n Colombia\n \n ,\n \n Dec. 22, 2021\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. (\"Holdings\"), today announced that it has plans to issue up to 15,000 debenture units (each a \"Unit\") in a non-brokered private placement (the \"Offering\"). The Units will be issued at a price of\n \n $1,000\n \n per Unit for aggregate gross proceeds of up to\n \n $15,000,000\n \n . Insiders, including directors and management, plan to participate in the Offering.\n \n \n \n \n \n \n \n \n \n The Company expects to issue the Units on or about\n \n December 30, 2021\n \n , in one or more closings, subject to the approval of the TSX Venture Exchange.\n \n \n The Company intends to use the proceeds from the sale of the Units for operations, working capital and the build-out of its international psychoactive dry flower sales program.\n \n \n \n Debenture Units\n \n \n \n Each will Unit consist of\n \n $1,000\n \n principal amount of 11% secured debentures (\"Debentures\") and 250 non-transferable common share purchase warrants (\"Debenture Warrants\"). Each Debenture Warrant will entitle the holder for a period of 36 months from the initial closing date to acquire one common share of the Company (each a \"Common Share\") at an exercise price equal to a 50% premium over the market price of the Common Shares at the time of the initial closing. The Debentures will bear interest at a rate of 11.0% per annum, will mature 36 months from the date of initial closing date, and will be guaranteed by Holdings. Holdings' guarantee of the Debentures will be secured by mortgages ...