VANCOUVER, British Columbia, April 19, 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 that, further to its press release dated April 10, 2024 (the “April 10 Release”), the Company has closed its previously announced non-brokered private placement offering (the “Offering”) effective today (the “Closing Date”) through the issuance of 4,166,665 Units for gross proceed of $750,000. Capitalized terms not otherwise defined herein have the meanings attributed to them in the April 10 Release.

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PharmAla Closes Private Placement and Concurrent Debt Settlement