VANCOUVER, British Columbia, April 10, 2024 (GLOBE NEWSWIRE) -- PharmAla Biotech Holdings Inc. (“PharmAla” or the “Company”) (CSE: MDMA) (OTC: MDXXF), a biotechnology company focused on the research, development, and manufacturing of LaNeo™ MDMA and novel derivatives of MDMA (MDXX class molecules), is pleased to announce its intention to complete a non-brokered private placement offering of units of the Company (each, a “Unit”) at a price of $0.18 per Unit for aggregate gross proceeds of up to $750,000 (the “Offering”). It is anticipated that the Offering will be funded solely by a small group of long-term shareholders, known to the Company, who have expressed commitments.

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PharmAla Announces Private Placement and Concurrent Debt Settlement