Business
PharmaCielo Ltd. Announces $4,000,000 Bought Deal Public Offering
PharmaCielo Ltd. Announces $4,000,000 Bought Deal Public Offering Canada NewsWire ...
About this update from Pharmacielo Ltd.
[{"type":"text","content":"\n\n\n\nPharmaCielo Ltd. Announces $4,000,000 Bought Deal Public Offering\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, June 10, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/  \n TORONTO, June 10, 2020 /CNW/ - PharmaCielo Ltd. (TSXV: PCLO) (OTCQX: PCLOF) (the \"Company\" or \"PharmaCielo\") is pleased to announce that it has entered into an agreement with a syndicate of investment dealers led by Cormark Securities Inc. and Stifel GMP (the \"Lead Underwriters\" and, collectively, the \"Underwriters\") pursuant to which the Underwriters have agreed to purchase 5,555,600 common shares (the \"Common Shares\") from the treasury of the Company, at a price of $0.72 (\"the \"Offering Price\") per Common Share and offer them to the public by way of short form prospectus for total gross proceeds of approximately $4,000,000 (the \"Offering\").\nIn addition, the Company has granted the Underwriters an option (the \"Over-Allotment Option\") to purchase up to an additional 15.0% of the Common Shares of the Offering on the same terms exercisable at any time up to 30 days following the closing of the Offering, for market stabilization purposes and to cover over-allotments, if any.\nThe net proceeds of the Offering shall be used for working capital and general corporate purposes.\nClosing of the Offering is expected to occur on or about June 30, 2020 and is subject to regulatory approval including that of the TSX Venture Exchange.\nThe Common Shares to be issued under the Offering will be offered by way of a short form prospectus in each of British Columbia, Alberta, Ontario and Quebec, and may be offered in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws, and certain other jurisdictions outside of Canada and the United States.\nThis press release shall not constitute an offer to sell or the solicitat...