Business
PharmaCielo Ltd. Expands Board Depth and Expertise with Appointment of Marc Lustig as Lead Director and Strengthens Capital Position with Private Placement Offering
PharmaCielo Ltd. Expands Board Depth and Expertise with Appointment of Marc Lustig as Lea...
About this update from Pharmacielo Ltd.
[{"type":"text","content":"\n \n \n \n PharmaCielo Ltd. Expands Board Depth and Expertise with Appointment of Marc Lustig as Lead Director and Strengthens Capital Position with 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. 2, 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. 2, 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\n \n Marc Lustig\n \n , the highly successful cannabis industry leader with expertise in both capital markets and health sciences, has agreed to join the Company's board of directors (the \"\n \n Board\n \n \") as Lead Director, subject to gross proceeds of\n \n $5.0 million\n \n being raised under the Offering (as defined below).\n \n \n \n \n \n \n \n \n \n \"Mr. Lustig will bring a unique compilation of successful experiences in the global cannabis industry spanning across\n \n North America\n \n ,\n \n Europe\n \n and\n \n Israel\n \n that substantially expand the capacity of the Board to work with management in the growth of PharmaCielo,\" said\n \n Simon Langelier\n \n , Chairman of the Board.  \"Acting as Lead Director will allow Mr. Lustig to apply his seasoned knowledge in a direct manner in support of the overall corporate and shareholder agenda.\"\n \n \n Mr. Lustig remains the Chairman of IM Cannabis Corp. and Trichome Financial Corp. and a director of Cresco Labs Inc.\n \n \n Subject to all necessary regulatory approvals, the Company is also undertaking a private placement of units of the Company (\"\n \n Units\n \n \") at a price of\n \n $0.50\n \n per Unit (the \"\n \n Offering Price\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...