Welcome to our dedicated page for Pharmacielo news (Ticker: PCLOF), a resource for investors and traders seeking the latest updates and insights on Pharmacielo stock.
PharmaCielo Ltd. (PCLOF) reports developments as a Canada-headquartered cannabis products company whose wholly owned subsidiary, PharmaCielo Colombia Holdings S.A.S., cultivates and processes medical cannabis flower and cannabis extracts in Rionegro, Colombia. Its updates center on dried flower and medicinal-grade extract production for natural pharmaceutical and consumer-products channels, international customer and export activity, revenue trends, gross margin, adjusted EBITDA, and cost controls.
Company news also covers capital-structure actions, including secured debentures, warrants, shares issued for interest or debt settlement, TSX Venture Exchange approvals, annual meeting matters, and corporate reporting status affecting trading of its shares.
PharmaCielo (TSXV: PCLO) (OTC Pink: PCLOF) announced financial results for Q2 2024 ended June 30. Key highlights include:
- Revenue increased to $784,000, up from $240,000 in Q1 2024 and $160,000 in Q2 2023
- Adjusted EBITDA loss improved to $592,000, compared to $1,264,000 in Q1 2024 and $2,119,000 in Q2 2023
- Net loss was $2,575,000 or $0.015 per share
- Year-to-date total SG&A expenses reduced by over 38% compared to the same period last year
The company aims to capitalize on global cannabis market opportunities, focusing on high-margin products and cost reduction strategies. PharmaCielo also plans to issue 5,979,496 common shares at $0.1579 per share to satisfy $944,165 in semi-annual interest payments on secured debentures.
PharmaCielo (TSXV: PCLO) (OTC Pink: PCLOF) provided an update on its reinstatement for trading on TSX Venture Exchange. Key points include:
1. The Ontario Securities Commission revoked its failure to file cease trade order on July 3, 2024.
2. The company expects TSXV to allow reinstatement for trading imminently.
3. PharmaCielo reduced its cash burn rate to approximately C$250,000 per month as of June 30, 2024.
4. The company closed a non-brokered private placement, raising $5,000,000.
5. PharmaCielo is planning another private placement of up to $3,000,000.
6. The company extended its LOI to acquire Siam Ventures until September 9, 2024.
7. PharmaCielo is in negotiations with Banco Agrario regarding loan repayment terms.
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