AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of PharmaCielo Ltd. (PCLOF) on Behalf of Investors

March 3, 2020 GMT

BENSALEM, Pa.--(BUSINESS WIRE)--Mar 3, 2020--

Law Offices of Howard G. Smith announces an investigation on behalf PharmaCielo Ltd. (“PharmaCielo” or “the Company”) (OTC: PCLOF ) investors concerning the Company and its officers’ possible violations of federal securities laws.

On March 2, 2020, Hindenburg Research published a report, alleging, among other things, that PharmaCielo’s “key operating property in Rionegro, Colombia” was sold “at a massive markup, allowing insiders to enrich themselves by an estimated $5.35 million.” The report also claims the Company’s purported greenhouse facilities on newly-purchased land is “nothing more than an empty field covered in weeds.”

On this news, the Company’s share price fell $0.4579 per share, or over 32%, to close at $0.9621 per share on March 2, 2020, thereby injuring investors.

If you purchased PharmaCielo securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200303005938/en/

CONTACT: Law Offices of Howard G. Smith

Howard G. Smith, Esquire

215-638-4847

888-638-4847

howardsmith@howardsmithlaw.com

www.howardsmithlaw.com

KEYWORD: PENNSYLVANIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Law Offices of Howard G. Smith

Copyright Business Wire 2020.

PUB: 03/03/2020 02:50 PM/DISC: 03/03/2020 02:50 PM

http://www.businesswire.com/news/home/20200303005938/en