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MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  Pharmagreen Biotech Inc.    PHBI

PHARMAGREEN BIOTECH INC.

(PHBI)
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Delayed Quote. Delayed OTC Bulletin Board - Other OTC - 10/30 03:59:29 pm
0.0178 USD   -24.58%
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Pharmagreen Biotech Provides Commentary on Cannabis Production in North America

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11/27/2018 | 12:30pm EDT

CARSON CITY, NV, Nov. 27, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Pharmagreen Biotech, Inc., (OTCM: PHBI) (“Company”) provided commentary on the burgeoning cannabis production market following its recent legalization October 17, 2018.  Pharmagreen CEO Peter Wojcik provided the following observations in conjunction with how the Company believes its Cannabis Biotech Complex, currently under construction in B.C., Canada, will help solve the infancy stage production issues facing the sector.

“Recently published news indicates that several leading producers of cannabis have experienced significant production issues, in particular mildew and mold, causing lost crop cycles and the inability to meet Health Canada production quality guidelines. We believe through our proprietary tissue culture process our resulting cannabis starter plantlets for sale to licensed producers, which are healthy, disease fee and pest free, will enable producers to yield high quality crops that meet all production guidelines and contribute positively to maintaining a healthy and regular supply to the public. Utilizing our starter plantlets will also enable growers to maximize their production space by eliminating the need for mothers and clone rooms, thereby driving potential revenue growth, increasing their flowering space and resulting revenue potential. We provide value added services and products to the licensed cannabis industry.”

Mr. Wojcik added, “We are also pleased to provide shareholders a scientific update on the Company’s all female plantlets for CBD isolate production as well as the consulting services to be performed at the planned Cannabis Biotech Complex. We will provide cultivation consulting services focused on the development of optimal nutrient feeding schedules for Pharmagreen’s proprietary strains, as well as that of our client’s strains, to greatly reduce the risk of potential nutrient lockup, stunting the plants’ growth and causing a reduction in plant size and yield. For growers seeking additional protection from potential loss of proprietary strains due to plant theft or plant death or for long term off-site genetics preservation in a lab environment, the Biotech Complex will offer the proprietary service of live tissue cultures storage utilizing Pharmagreen’s cold storage technology.

“The Company is also excited about its ‘CBD Dana’ strain, all female plantlets for CBD Isolate production. ‘CBD Dana’ hemp plants can yield close to 200 kg of CBD Isolate in one acre, as opposed to planting from hemp seed which yields approximately 7 KG of CBD Isolate per acre.  ‘CBD Dana’ strain is a hemp plant with 14% CBD and less than .3% THC, third party lab verified, which also allows for International shipping of plantlets without the restrictions currently in place for marijuana plants.  The world’s largest CBD market is in the United States and as emphasized by the FDA, CBD consumer products are to be derived from hemp plants, making our ‘CBD Dana’ strain, with female plants only, the optimal CBD farming model.”

Mr. Wojcik concluded, “Given the growth of the cannabis market and its inherent learning curve there is a clear need for a specialized company to supply the growers with the highest quality tissue cultured plantlets, and other beneficial services to consistently maximize each and every crop. We believe in conjunction with our strategic partner Alliance Growers Inc., (CSE: ACG) (OTCQB:ALGWF.QB), our shared vision and infrastructure will entrench us as a leader in the cannabis production sector while we remain focused on building long term shareholder value.”  

ABOUT PHARMAGREEN BIOTECH

WFS Pharmagreen Inc. is a wholly owned Canadian based subsidiary of Pharmagreen Biotech, Inc., a publicly traded (OTC PINKS: PHBI) company.  WFS Pharmagreen Inc. is a cannabis company positioning itself to become the largest producer of cannabis plantlets through a proprietary tissue culture process. Pharmagreen’s mission is to advance the technology of tissue culture science and to provide the highest quality 100% germ free, disease free and all genetically the same plantlets of cannabis and other flora while offering full spectrum DNA testing for plant identification, live genetics preservation using  low temperature storage for various cannabis and horticulture plants; extraction of botanical oils mainly CBD oil, and to deliver laboratory based services to the North American Cannabis and agriculture sectors.  For further information on the company progress on the construction of a 63,000 square foot “Cannabis Biotech Complex” please visit www.pharmagreen.ca

Safe Harbor Statement

This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. In particular, factors that could cause actual results to differ materially from those in forward looking statements include: our inability to obtain additional financing on acceptable terms; risk that our products and services will not gain widespread market acceptance; inability to compete with others who provide comparable products; the failure of our technology; the infringement of our technology with proprietary rights of third parties; inability to respond to consumer demands; inability to replace significant customers; seasonal nature of our business. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements. When used in this document, the words "believe," "expect," "anticipate," "estimate," "project," "plan," "should," "intend," "may," "will," "would," "potential," and similar expressions may be used to identify forward-looking statements. 

The OTC Markets or any other securities regulatory authority has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release that has been prepared by management. 


Contact Information:

www.pharmagreen.ca

Tel: (702) 803 9404

Email: info@pharmagreen.ca

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© GlobeNewswire 2018

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Financials (USD)
Sales 2019 - - -
Net income 2019 -0,77 M - -
Net Debt 2019 0,01 M - -
P/E ratio 2019 -193x
Yield 2019 -
Capitalization 1,89 M 1,89 M -
EV / Sales 2018 -
EV / Sales 2019 -
Nbr of Employees -
Free-Float 43,8%
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Managers
NameTitle
Peter Wojcik President, CEO, Secretary, Treasurer & Director
Fawzia Afreen Chief Operations Officer
Terry Kwan Chief Financial Officer & Director
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