PharmaCielo Ltd.’s Acquisition of 100% stake in Ubiquo Telemedicina S.A.S.

DLA Piper Martinez Beltran and McMillan advised on the transaction

PharmaCielo Ltd. acquired the 100% of the subscribed and outstanding shares of Ubiquo Telemedicina S.A.S., a leading provider of telemedicine services in Colombia.

The aggregate purchase price for the acquisition consisted of 156,058 common shares of PharmaCielo Ltd. and CDN$880,000 in cash.

Upon closing of the transaction, an aggregate of 132,649 common shares of PharmaCielo Ltd. were issued and CDN$750,000 were paid to former Ubiquo Telemedicina S.A.S. shareholders in cash. The remaining shares and cash will be held back for a period of six months for any adjustments to the purchase price that may be required.

PharmaCielo Ltd. operates as a pharmaceutical company. The Company, led by Praveen Kumar Varshney and Debbie Lew, focuses on processing and supplying all natural medicinal-grade cannabis oil extracts and related products to large channel distributors.

DLA Piper Martinez Beltran advised PharmaCielo Ltd. with a team including Camilo Martínez (Picture), Sebastián Celis and Luisa Echeverri.

Involved fees earner: Sebastian Celis Rodriguez – DLA Piper Martínez Beltrán; Luisa María Echeverri – DLA Piper Martínez Beltrán; Camilo Martinez Beltran – DLA Piper Martínez Beltrán;

Law Firms: DLA Piper Martínez Beltrán;

Clients: PharmaCielo Ltd;

Author: Ambrogio Visconti.