This Latin American Cannabis Co. Plans To Expand In Thailand Amid Significant Shifts In Weed Regulation Landscape
Portfolio Pulse from Jelena Martinovic
PharmaCielo Ltd. (OTCQX:PCLOF) announced its intention to acquire Siam Ventures Corporation, aiming to expand its cannabis operations into Thailand amidst regulatory changes. The deal involves issuing PharmaCielo shares worth CA$3 million ($2.2 million) to Siam Ventures' shareholders. This acquisition is seen as a strategic move to access large Asian markets as they open to cannabinoids. Concurrently, PharmaCielo is undertaking a non-brokered private placement of units to raise CA$2 million, potentially increasing to CA$3 million, to support its expansion and operational needs.
April 10, 2024 | 2:49 pm
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PharmaCielo's strategic acquisition of Siam Ventures and concurrent private placement of units highlight its expansion efforts in Asia and operational funding needs.
The acquisition of Siam Ventures positions PharmaCielo to capitalize on the opening of large Asian markets to cannabinoids, potentially boosting its revenue and market share. The private placement of units indicates a proactive approach to financing its expansion and operational needs, which could reassure investors of its growth potential and financial planning.
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