TORONTO and RIONEGRO,
Colombia, May 24, 2019 /CNW/ - PharmaCielo
Ltd. ("PharmaCielo" or the "Company")
(TSXV:PCLO), the Canadian parent of Colombia's premier cultivator and producer of
medicinal-grade cannabis oil, PharmaCielo Colombia Holdings S.A.S.,
is pleased to announce the results of the Company's annual general
and special meeting (the "AGM") held on May 23, 2019, in Toronto, Ontario.
|
Votes
For
|
Fix the number of
directors to be elected at six (6)
|
99.70%
|
Election of
Directors
|
Simon
Langelier
|
99.71%
|
David
Attard
|
99.71%
|
Douglas
Bache
|
99.71%
|
Henning von
Koss
|
99.71%
|
Matteo
Pellegrini
|
99.71%
|
Carlos Manuel
Uribe
|
99.99%
|
|
Appointment of MNP
LLP, Chartered Professional Accountants, as the Company's
auditors.
|
99.37%
|
Approve the amendment
of the stock option plan of the Company (the "Stock
Option Plan") to fix the number of Common Shares issuable upon
exercise of stock
options at 15,693,957 common shares of the Company ("Common
Shares").
|
93.90%
|
Approve the amendment
to the restricted share unit ("RSU") plan of the Company
(the "RSU Plan") to fix the number of Common Shares issuable
upon the vesting
of RSUs at 3,531,125 Common Shares.
|
99.68%
|
Approve the amendment
to the restricted share unit ("DSU") plan of the Company
(the "DSU Plan") to fix the number of Common Shares issuable
upon the vesting
of DSUs at 0 Common Shares.
|
99.68%
|
A total of 35,576,695 Common Shares were present in person or by
proxy at the AGM, which constituted a quorum of shareholders, and
represented 37.01% of the 96,125,419 issued and outstanding Common
Shares entitled to vote as of April 17,
2019, the record date for the AGM.
For more information on the matters approved by shareholders at
the AGM, please refer to the Company's Management Proxy Circular
that is available on SEDAR (www.sedar.com).
RSU Grant
The RSU's are governed by the RSU Plan. The RSU Plan was
approved by shareholders on May 23,
2019. The number of Common Shares that may be reserved for
issuance pursuant to awards granted under the RSU Plan is
3,531,125, and together with the number of Common Shares issuable
under the grant of Stock Options under the Stock Option Plan and
DSUs under the DSU Plan may be up to 19,225,082 Common Shares,
being 20% of the 96,125,419 issued and outstanding Common Shares as
at April 17, 2019, the record date
for the AGM.
On May 23, 2019 the Board granted
250,000 RSUs to Scott Laitinen, the
Chief Financial Officer of the Company that vest two years from the
date of grant. Each RSU entitles the holder to receive one
Common Share upon vesting. After this issuance of RSUs to Mr.
Laitinen, there are 1,258,000 RSUs issued and outstanding.
About PharmaCielo
PharmaCielo Ltd. (TSXV:PCLO) is a global company, headquartered
in Canada, with a focus on ethical
and sustainable processing and supplying of 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 SAS, 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 SAS 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.
SOURCE PharmaCielo Ltd.