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PPU in Colombia counsels on PharmaCielo placement

  • News
  • 5 May 2020
  • 273
  • 2 minutes read

Philippi Prietocarrizosa Ferrero DU & Uría (PPU) in Colombia has advised on a private placement by Canadian cannabis product producer PharmaCielo.

Hernando Padilla of PPUThe placement consisted of 12,428,002 special warrants of the company at $0.65 per special warrant for aggregate gross proceeds of approximately $8 million.

The offering was conducted by a syndicate of agents led by Cormark Securities, Stifel GMP and Echelon Wealth Partners, and which were advised by PPU’s team, led by Hernando Padilla (pictured), with Ana Estrada, Gerardo Flórez, Santiago Fuquen and Diego Quintero 

PharmaCielo focuses on the ethical and sustainable processing and supplying of all natural, medicinal-grade cannabis oil extracts and related products.

PharmaCielo’s principal subsidiary is PharmaCielo Colombia, headquartered at its nursery and propagation centre located in Rionegro, Colombia.

adam.critchley@iberianlegalgroup.com

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