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PharmaCielo Completes La Margarita Land Sale, Repays Banco Agrario Loan, Strengthens Balance Sheet, Completes Audit
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About this update from Pharmacielo Ltd.
[{"type":"text","content":"PharmaCielo Completes La Margarita Land Sale, Repays Banco Agrario Loan, Strengthens Balance Sheet, Completes Audit\n\n\n\n /NOT\n \n FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n \n\n\n\n All amounts expressed in Canadian dollars unless otherwise noted\n \n\n\n TORONTO and RIONEGRO, Colombia, Oct. 06, 2025 (GLOBE NEWSWIRE) -- PharmaCielo Ltd. (“PharmaCielo” or the “Company”) (TSXV: PCLO, OTC: PCLOF), 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 the closing of the sale of its La Margarita property in Carmen de Viboral, Antioquia, Colombia, to Flores El Capiro S.A. (“Flores El Capiro”), and the filing of its fifteen months ended March 31, 2025 audited financial statements.\n \n\n\n La Margarita Land Sale Transaction Highlights\n \n\n\n\n\n Transaction Details:\n \n The preliminary sale agreement was signed on June 5, 2025. PharmaCielo and Flores El Capiro are arm’s-length parties. No finder’s fees were paid in connection with the transaction.\n \n\n\n Gross Sale Price:\n \n COP $26,000,000,000 (approximately CAD $8.6 million).\n \n\n\n Loan Repayment:\n \n Proceeds were used to fully repay the outstanding Banco Agrario de Colombia loan (“Banco Agrario Loan”) , totalling COP $6,129,153,444 (CAD $2.1 million), including principal, interest, and legal costs. Importantly, accrued interest of approximately COP $900 million (approximately CAD $300,000) was successfully negotiated and forgiven.\n \n\n\n Proceeds Allocation:\n \n Following repayment of the Banco Agrario Loan and other outstanding commitments in Colombia, approximately $4.0 million of the proceeds are being transferred to Canada for partial payment of matured debentures and other mandatory corporate payments.\n \n\n\n Strategic Rationale\n \n The sale of La Margarita aligns with PharmaCielo's strategic initiative to optimize its asset portfolio and strengthen its financial position, allowing the Company to concentrate resources on core growth opportunities in priority markets.\n \n\n\n\n Marc Lustig,\n \n Chairman and CEO of PharmaCielo, commented, “This transaction is a positive step forward for PharmaCielo. By...