30 April, 2020 Colombia

PharmaCielo Ltd.’s $8 Million Private Placement

PPU

PharmaCielo Ltd. (TSXV: PCLO, OTCQX: PCLOF) has closed its previously announced “best efforts” private placement financing of 12,428,002 special warrants of the Company at $0.65 per Special Warrant for aggregate gross proceeds of approximately $8 million.

The Offering was conducted by a syndicate of agents led by Cormark Securities Inc., Stifel GMP and Echelon Wealth Partners Inc..

PharmaCielo Ltd. (TSXV: PCLO, OTCQX: PCLOF) is a global company, headquartered in Canada, with a focus on ethical and sustainable processing and supplying of all natural, medicinal-grade cannabis oil extracts and related products to large channel distributors. PharmaCielo’s principal subsidiary is PharmaCielo Colombia Holdings S.A.S., headquartered at its nursery and propagation centre located in Rionegro, Colombia.

Philippi Prietocarrizosa Ferrero DU & Uría advised the agents.

Involved fees earner: Hernando Padilla, Ana Estrada, Gerardo Flórez, Santiago Fuquen, Diego Quintero

Law Firms: Philippi Prietocarrizosa Ferrero DU & Uría 

Clients: Cormark Securities Inc.; Echelon Wealth Partners Inc.; Stifel Financial Corp.

Source: Global Legal Chronicle

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