PharmaCielo receives ca $2.3 mn in non-dilutivefunding from Colombian state-owned Banco Agrario

PharmaCielo Colombia, cultivator and producer of medicinal-grade cannabis extracts, has received a $2.3 million loan, with term and revolving components from Banco Agrario de Colombia S.A. Banco Agrario is a Colombian state-owned entity focused on providing funding to support specific sectors and projects across the country, with one of its primary focuses being the agro-industrial sector. The Loan has a term of 84 months and will bear interest at a rate of 10.14% per annum, subject to a capital amortization grace period of up to 24-months. The Loan is secured against part of the Company’s La Margarita property, which comprises less than 25% of the Company’s total assets.

Source: Newswire