Pharmacielo (TSE:PCLO) has released an update.
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PharmaCielo, a leading cultivator and producer of cannabis extracts, has signed a Letter of Intent to acquire Siam Ventures, aiming to tap into the Asian markets. The $3 million deal will be paid in shares, with Siam Ventures’ CEO joining PharmaCielo’s board upon closing. Additionally, PharmaCielo is raising $2 million through a private placement to fund working capital, international expansion, and meet product demand.
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