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) is a global company headquartered in Canada, focused on ethical and sustainable processing and supplying pharmaceutical-grade medical cannabis products. The company's principal subsidiary is PharmaCielo Colombia Holdings S.A.S., located in Rionegro, Colombia. As a leading producer of dried flower and medicinal-grade cannabis extracts, PharmaCielo recently closed a successful private placement, showing steady progress in its operations. The company is dedicated to providing high-quality, reliable products to large channel distributors worldwide.
PharmaCielo (PCLOF) reported strong Q4 2024 financial results, achieving 143% year-over-year sales growth with total revenue of $3.54 million for the year. The company's Q4 net revenue reached $1.1 million, more than triple compared to the same period last year.
Key financial improvements include significant cost reductions: office and general expenses decreased by $591,000, salaries by $1,189,000, and marketing costs by $428,000. The company's Adjusted EBITDA improved by $1.1 million versus last year.
PharmaCielo announced plans to issue up to 5 million common shares to settle approximately $500,000 in debt owed to service providers, former employees, and directors. The company expects to achieve positive EBITDA and cash flow in 2025, with sales projected to accelerate in the latter half of the year.
PharmaCielo (TSXV: PCLO) (OTC: PCLOF), a Canadian company operating Colombia's premier cannabis cultivation and extraction facility, has announced two share issuances to settle outstanding obligations. The company has issued 2,000,000 common shares at $0.10 per share to settle $200,000 in debt owed to service providers. Additionally, 10,259,041 common shares were issued at $0.0953 per share to satisfy $977,689 in semi-annual interest payments due to holders of 11% secured debentures maturing in December 2024 and June 2026. Both share issuances are subject to a four-month hold period under Canadian securities laws.
PharmaCielo (TSXV: PCLO) (OTC: PCLOF) reported strong Q3 2024 financial results with 85% year-over-year sales growth. Revenue reached $1.3 million in Q3 and $2.4 million year-to-date. The company achieved positive gross profit of $372,000 in Q3, improved from a loss of $349,000 in Q3 2023. Adjusted EBITDA improved by $0.8 million, reflecting sales growth and cost reductions. The company successfully expanded into new international markets across Latin America, Europe, Africa, and Australia. Significant cost reductions were achieved in consulting fees ($179,000), office expenses ($508,000), and salaries ($891,000). The company expects to achieve profitability in 2025.
PharmaCielo (TSXV: PCLO) (OTC: PCLOF) has announced its intention to extend the expiry date of 9,007,200 warrants. Subject to TSX Venture Exchange approval, the warrants' expiry date will be extended from November 20, 2024 to November 20, 2025. The warrants maintain their exercise price of $0.65. PharmaCielo is a Canadian company that operates through its Colombian subsidiary, which specializes in cultivating and producing dried flower and medicinal-grade cannabis extracts.
PharmaCielo (TSXV: PCLO) (OTC Pink: PCLOF), a Canadian company with Colombian cannabis operations, has announced two significant corporate changes. Firstly, the company has appointed Davidson & Company LLP as its new independent registered auditor, effective October 7, 2024, replacing BDO Canada LLP. This change is expected to provide enhanced audit committee oversight due to Davidson's additional capabilities and regional experience in Colombia through its international affiliate Nexia International.
Secondly, PharmaCielo will change its financial year-end from December 31 to March 31. This adjustment aims to align the company's reporting cycle with its peers. As a result, PharmaCielo will file a transitional period report with audited financial statements covering a 15-month period from January 1, 2024, to March 31, 2025. The subsequent financial year will run from April 1, 2024, to March 31, 2025.
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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