TORONTO and RIONEGRO, Colombia, Nov. 22,
2022 /CNW/ - PharmaCielo Ltd.
("PharmaCielo" or the "Company") (TSXV: PCLO, OTCQX: PCLOF),
the Canadian parent of Colombia's
premier cultivator and producer of dried cannabis flower and
medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings
S.A.S. ("Holdings"), today announced that the TSX
Venture Exchange ("TSXV") has approved the extension of 9,007,200
warrants originally issued on November 20,
2020 (the "Warrants") under the TSX-Venture Symbol PCLO.WT.
In accordance with the TSXV's rules for warrant amendments set out
in section 3 of Policy 4.1 of the TSXV's Corporate Finance
Policies, amendments to warrants listed for trading are not
permitted. As such, the Warrants were delisted from trading at
market close on November 21, 2022,
and will be exercisable until November 20,
2024. Full details may be found below.
Number of Warrants: 9,007,200 (today), 10,000,000
(originally issued)
Original Expiry Date of Warrants: November 20,
2022
New Expiry Date of Warrants: November 20, 2024
Exercise Price of Warrants: $0.65
About PharmaCielo
PharmaCielo Ltd. (TSXV: PCLO, OTCQX: PCLOF) is a global
company, headquartered in Canada,
with a focus on ethical and sustainable cultivating, processing,
and supply of all natural, pharmaceutical-grade medical dried
cannabis flower and cannabis products to large channel
distributors. PharmaCielo's principal (and wholly owned) subsidiary
is PharmaCielo Colombia Holdings S.A.S., headquartered at its
cultivation and processing center located in Rionegro, Colombia.
The board of directors and executive team of PharmaCielo
are comprised of a diversely talented group of international
business executives and specialists with relevant and varied
expertise. PharmaCielo recognized the significant role that
Colombia's ideal location plays in
building a sustainable business in the medical cannabis industry,
and the Company, together with its directors and executives, is
executing on a business plan focused on supplying the international
marketplace.
Forward-Looking Statements
This news release contains forward-looking statements.
Forward-looking statements can be identified by the use of words
such as "expects", "is expected", "intends", "anticipates",
"believes", or variations of such words and phrases or state that
certain actions, events or results "may" or "will" be taken, occur
or be completed or achieved.
Forward-looking statements can be affected by known and
unknown risks, uncertainties and other factors, including changes
to PharmaCielo's development plans, the failure to obtain and
maintain all necessary regulatory approvals relating to the export
of cannabinoid products and the import of these products into other
countries, TSX Venture Exchange approval, the inability to export
or distribute commercial products through sales channels as
anticipated due to economic or operational circumstances, risks
associated with operating in Colombia, fluctuation of the market price for
the Company's products, risks associated with global economic
instability relating to COVID-19 or other developments, risks
related to retention of key Company personnel, currency exchange
risk, competition in PharmaCielo's market and other risks discussed
or referred to under the heading "Risk Factors" in PharmaCielo's
Annual Information Form for the financial year ended December 31, 2019, which is available at
www.sedar.com. Accordingly, readers should not place
undue reliance on forward-looking statements. Except as required by
law, PharmaCielo undertakes no obligation to publicly update any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
SOURCE PharmaCielo Ltd.