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PharmaCielo Provides Update on Non-Brokered Private Placement of Debenture Units
PharmaCielo Provides Update on Non-Brokered Private Placement of Debenture Units ...
About this update from Pharmacielo Ltd.
[{"type":"text","content":"\n \n \n \n PharmaCielo Provides Update on Non-Brokered Private Placement of Debenture Units\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n and RIONEGRO,\n \n Colombia\n \n \n ,\n \n \n May 11, 2022\n \n \n /CNW/ - PharmaCielo Ltd. (\"PharmaCielo\" or the \"Company\") (TSXV: PCLO) (OTCQX: PCLOF), the Canadian parent of\n \n Colombia's\n \n premier cultivator and producer of medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S. (\"Holdings\"), announces today that, further to its previously announced non-brokered private placement of debenture units (\"Units\"), it is engaged in ongoing discussions with specific parties and expects to issue up to an additional\n \n $3,500,000\n \n principal amount of Units in the coming weeks, in one or more closings, subject to the approval of the TSX Venture Exchange. Since its announcement of the offering, the Company has issued\n \n $6,500,000\n \n principal amount of Units.\n \n \n As disclosed in the Company's news release dated\n \n December 22, 2021\n \n , the Company intends to use the proceeds from the sale of the Units for operations, working capital and the build-out of its international psychoactive dried flower sales program. Since\n \n February 2022\n \n , PharmaCielo has announced: a\n \n sales agreement with Greenstein Germany GmbH\n \n , an independent pharmaceutical wholesaler specializing in the distribution of cannabis-based phytopharmaceuticals in\n \n Germany\n \n , to commercialize THC final products through NOWEDA e.G., a pharmaceutical wholesaler to all pharmacies in\n \n Germany\n \n ; and\n \n an agreement with Soteria Holdings Limited\n \n to license, import and wholesale its medical cannabis flower and extracts in the Polish market.\n \n \n Each Unit consists of\n \n $1,000\n \n principal amount of 11% secured debentures (\"Debentures\") and 250 non-transferable common share purchase warrants (\"Debenture Warrants\"). Each Debenture Warrant entitles the holder to acquire one common share of the Company (each a \"Common Share\") at...