Pharmagreen Biotech Inc. (OTCPK:PHBI) entered into memorandum of understanding to acquire Long Valley Farms LLC for $2.4 million on July 25, 2021. As part of consideration, Pharmagreen Biotech will pay a total purchase price of $2.4 million in cash and shares. The first tranche of funds Pharamagreen provided in December, 2021 was used for the renewal of the Cannabis cultivation license with the California authorities, securing its spot under the legacy cultivation licensing scheme.

Ethan Styles as he continues his role as the Chief Executive Officer of Long Valley Farms now and post-acquisition.