TORONTO, Nov. 8, 2019 /CNW/ - 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.
About PharmaCielo
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.
Forward-Looking Statements
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.
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.
SOURCE PharmaCielo Ltd.