PharmaCielo Announces RSU Grant
TORONTO, Canada (November 8, 2019) – PharmaCielo Ltd. (“PharmaCielo” or the “Company”) (TSXV:PCLO, OTC:PHCEF) today announced that on November 5, 2019 (the “Grant Date”) the board of directors approved and granted 25,000 restricted share units (“RSUs”) to Carlos Manuel Uribe, a director of the Company, which all vest on the Grant Date. Each RSU entitles the holder to receive one common share in the capital of the Company (each a “Common Share”) upon vesting.
The RSUs are governed by the RSU plan approved by the shareholders of the Company on May 23, 2019 (the “RSU Plan”). The number of Common Shares that may be reserved for issuance pursuant to the awards granted under the RSU Plan is 3,531,125. After this issuance of RSUs to Mr. Uribe, there are 1,158,000 RSUs issued and outstanding.
For further information:
David Gordon, Chief Corporate Officer
LodeRock Advisors Inc., PharmaCielo Investor Relations
International: Gal Wilder, Cohn & Wolfe
PharmaCielo Ltd. (TSXV:PCLO, OTC:PHCEF) is a global company, headquartered in Canada, with a focus on ethically and sustainably processing and supplying all natural, medicinal-grade cannabis oil extracts and related products to large channel distributors. PharmaCielo’s principal (and wholly owned) subsidiary is PharmaCielo Colombia Holdings S.A.S., headquartered at its nursery and propagation centre located in Rionegro, Colombia.
The boards of directors and executive teams of both PharmaCielo and PharmaCielo Colombia Holdings 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 will play 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.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
This press release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as “expects”, “is expected”, “intends”, “believes”, or variations of such words and phrases or state that certain actions, events or results “may” or “will” be taken, occur or be achieved. Forward-looking statements include statements with respect to the vesting of RSUs. Such forward-looking statements are based on assumptions, including compliance with the RSU Plan enabling the RSUs to vest. Forward-looking statements can be affected by known and unknown risks, uncertainties and other factors, including, but not limited to, the equity markets generally, risks associated with early stage companies, risks associated with the regulation of cannabis and cannabinoid derivatives, failure to obtain necessary TSXV approval, competition for PharmaCielo’s planned products, risks associated with operating in Colombia, and currency exchange risk. 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.