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PharmaCielo Ltd (OTCMKTS: PCLOF) Completes the Closure of Initial Tranche of Non-Brokered Private Placement of Debenture Units

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PharmaCielo Ltd. (OTCMKTS: PCLOF) recently announced the closure of its non-brokered private placement’s initial tranches. The Canadian company is the parent of PharmaCielo Columbia Holdings, the highest premium producer of medical-grade cannabis extracts. 

The private placement consisted of approximately 5,000 debenture units issued at $1,000 per unit. The total amount for all units was valued at $5,000,000, which made up part of the company’s revenue. 

Details of the closure

The closure of the initial tranches consisted of a principal amount of $4,000,000 of the units as of December 31, 2021. In addition, the company’s members participated in the initial tranche of financing; thus, the company anticipates shutting down an additional $10,000,000 principal amount of units. 

The company anticipated to shut down the additional units on or before January 14, 2022, and utilize the proceeds to build out its international psychoactive dry flower sales program. 

The units comprised a principal amount of $1,000 plus 11% of secured debentures and 250 non-transferable custom share purchase warrants. An owner of a unit was entitled to purchase one of the company’s common shares at $1.44 per share. The common shares acquired would remain effective until December 24, 2024, and were subject to any customary adjustments. 

The company would pay the debentures’ interest at its discretion. However, its decision was subject to the approval of the TSX Venture Exchange. In addition, the Holdings reserved the right to redeem any or all of the debentures at any time following its percentages of face value. 

How PharmaCielo operates 

PharmaCielo Ltd. is based in Canada and focuses on ethical and durable processing and supplying natural and medicinal cannabis oil extracts. Its principal subsidiary PharmaCielo Colombia Holdings is located in Rionegro, Colombia, its processing center. 

The company’s board of directors and the executive consists of a diversely talented group of international business executives and specialists with required and vital expertise. In addition, PharmaCielo acknowledged the remarkable role that its subsidiary’s location plays in creating a sustainable organization in the medical cannabis industry. 

The company and its directors and executives execute business plans that focus on distributing products to the international market. 

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