Business
PharmaCielo Announces Upsizing of Private Placement Offering
PharmaCielo Announces Upsizing of Private Placement Offering Canada NewsWire ...
About this update from Pharmacielo Ltd.
[{"type":"text","content":"\n \n \n \n PharmaCielo Announces Upsizing of Private Placement Offering\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 TORONTO, Nov. 3, 2020\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n TORONTO\n \n ,\n \n Nov. 3, 2020\n \n /CNW/ - PharmaCielo Ltd. (\"\n \n PharmaCielo\n \n \" or the \"\n \n Company\n \n \") (TSXV: PCLO) (OTCQX: PCLOF) is pleased to announce that, due to high demand, it has increased the size of its previously announced private placement offering from\n \n $5.0 million\n \n to\n \n $10.0 million\n \n (the \"\n \n Upsized Offering\n \n \"). Pursuant to the Upsized Offering, the Company will issue 20,000,000 units (\"\n \n Units\n \n \") of the Company at a price of\n \n $0.50\n \n per Unit.\n \n \n \n \n \n \n \n \n \n Each Unit will be comprised of (i) one common share (a \"\n \n Common Share\n \n \") of the Company; and (ii) one half of one Common Share purchase warrant (each whole warrant, a \"\n \n Warrant\n \n \") of the Company. Each Warrant entitles the holder thereof to purchase one Common Share (a \"\n \n Warrant Share\n \n \") at a price of\n \n $0.65\n \n for a period of 24 months.\n \n \n \"The immediate market demand for this issue has been very positive and is a clear statement of confidence in the continued progress of PharmaCielo,\" said\n \n David Attard\n \n , CEO.\n \n \n Closing of the Upsized Offering is expected to occur on or about\n \n November 20, 2020\n \n (the \"\n \n Closing Date\n \n \"). Closing of the Upsized Offering is subject to regulatory approval including that of the TSX Venture Exchange (the \"\n \n TSXV\n \n \").\n \n \n The Units will be offered by way of private placement in\n \n Ontario\n \n and such other provinces and territories of\n \n Canada\n \n and may be offered in\n \n the United States\n \n on a private placement basis pursuant to an exemption from the registration requirements of the United States Securi...