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PharmaCielo Receives Approximately CDN$3.0 Million in Non-Dilutive Funding from Colombian State-Owned Banco Agrario
PharmaCielo Receives Approximately CDN$3.0 Million in Non-Dilutive Funding from Colombian...
About this update from Pharmacielo Ltd.
[{"type":"text","content":"\n \n \n \n PharmaCielo Receives Approximately CDN$3.0 Million in Non-Dilutive Funding from Colombian State-Owned Banco Agrario\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.prnsbbs{\nBORDER-BOTTOM:black 1pt solid\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnbcc{\nBORDER-TOP:0pt solid; BORDER-RIGHT:0pt solid; BORDER-COLLAPSE: COLLAPSE; BORDER-BOTTOM:0pt solid; BORDER-LEFT:0pt solid\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prnvat{\nVERTICAL-ALIGN: TOP\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n \n \n \n \n \n \n Loan of COP$8.5 billion (approximately\n \n CDN$3.0 million\n \n \n 1\n \n ) has an 84-month term, 10.14% coupon and revolving component with no equity dilution\n \n \n This loan together with the proceeds of the recent CDN$10mm equity financing put the company in a well-capitalized position to execute on its growing sales pipeline.\n \n \n \n \n \n \n TORONTO\n \n and RIONEGRO,\n \n Colombia\n \n ,\n \n Dec. 7, 2020\n \n /CNW/ - PharmaCielo Ltd. (\"\n \n PharmaCielo\n \n \" or the \"\n \n Company\n \n \") (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. (\"PharmaCielo Colombia\"), today announced that PharmaCielo Colombia has received a COP$8.5 billion (approximately\n \n CDN$3.0 million\n \n ) loan (the \"Loan\"), with term and revolving components from Banco Agrario de Colombia S.A. (\"Banco Agrario\"). Banco Agrario is a Colombian state-owned entity focused on providing funding to support specific sectors and projects across the country, with one of its primary focuses being the agro-industrial sector.\n \n \n \n \n \n \n \n \n \n \"We are proud to have this banking relationship with Banco Agrario. To our knowledge this loan is the first case of a more traditional form of non-dilutive funding being provided to an operator in the Colombian cannabis industry. It is based on favourable terms and i...