PharmaCielo Ltd. announced a non-brokered private placement of 9,090,909 units at an issue price of CAD 0.22 per unit for the gross proceeds of CAD 1,999,999.98 on April 10, 2024. Each Unit will be comprised of one common share and one Common Share purchase warrant Each Warrant entitles the holder thereof to purchase one Common Share at a price of CAD 0.30 for a period of 24 months. Closing of the Offering may take place in one or more tranches, provided that the final tranche closing will occur no later than May 25, 2024, being 45 days following the date hereof.

Closing of the Offering is subject to regulatory approval including that of the TSX Venture Exchange. The Company has the option to increase the size of the Offering to 4,545,455 Units or CAD 3,000,000. Certain insiders of company and existing investors of Siam Ventures plan to participate in the Offering.