Business
PharmaCielo Announces the Issuance of Interest Shares
All figures in Canadian dollars ($) unless otherwise specifiedToronto, Ontario and Rionegro, Colombia--(Newsfile Corp. - March 17, 2026) - PharmaCielo Ltd. (TSXV: PCLO) (OTC Pink: PCLOF) ("PharmaCielo" or the "Company"), the Canadian parent of Colombia's premier cultivator and producer of dried flower and medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S., today announced that, as approved by the TSX Venture Exchange (the "TSXV"), it is issuing 12,153,937 common shares of...
About this update from Pharmacielo Ltd.
[{"type":"text","content":"All figures in Canadian dollars ($) unless otherwise specified","length":62,"tagName":"p","attribs":{}},{"type":"text","content":"Toronto, Ontario and Rionegro, Colombia--(Newsfile Corp. - March 17, 2026) - PharmaCielo Ltd. (TSXV: PCLO) (OTC Pink: PCLOF) ("PharmaCielo" or the "Company"), the Canadian parent of Colombia's premier cultivator and producer of dried flower and medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S., today announced that, as approved by the TSX Venture Exchange (the "TSXV"), it is issuing 12,153,937 common shares of PharmaCielo ("Interest Shares"), at an effective price of $0.08 per Interest Share, in satisfaction of an aggregate of $972,317.12 of semi-annual interest payable to holders of the Company's 11% secured debentures (the "Debentures") (the "Shares for Debt Transaction").","length":783,"tagName":"p"},{"type":"text","content":"The effective price of the Interest Shares was determined by dividing the cash interest otherwise payable by the number of shares issuable under each Debenture, in accordance with the terms of the Debentures and TSXV Policy 4.3, section 3.3. The Interest Shares are subject to the balance, if any, of the 4-month statutory hold period.","length":335,"tagName":"p"},{"type":"text","content":"The issuance of Interest Shares to L5 Capital Inc., Marc Lustig, William Petron and Ian Atacan constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the transaction does not exceed 25% of the Company's market capitalization.","length":577,"tagName":"p"},{"type":"text","content":"Annual General and Special MeetingThe Company's next Annual General Meeting ("AGM") will be held on April 2, 2026, at 11:00 a.m. Eastern Time at 82 Richmond Street East, Toronto, Ontario, M5C 1P1. Shareholders will be asked to elect directors, appoint auditors, and consider other customary business. Shareholders may also participate in the meeting online or by ...