CARSON CITY, NV, Nov. 04, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Pharmagreen Biotech, Inc., (OTC PINKS: PHBI), a specialized tissue cultured starter plantlet production company, targeting the CBD Hemp and Cannabis Industries, is pleased to update its shareholders that it has submitted its application to up list to the OTCQB Venture Market. The company's management believes uplisting its common stock to the OTCQB will serve to improve the company's position in the public markets and substantially increase its visibility to a wider range of investors.
The OTCQB Venture Market is operated by OTC Markets Group Inc. and is designed for developing and entrepreneurial companies in the U.S. and abroad. To achieve and maintain an OTCQB listing, companies are required to be current in their financial reporting, among other requirements. With more compliance and quality standards, the OTCQB provides investors improved visibility to enhance trading decisions. Importantly, the OTCQB is recognized by the Securities and Exchange Commission as an "established public market" providing public information for analysis and value of securities. PHBI has been current with audited statements since 2018.
"Uplisting to the OTCQB, with it being an SEC-recognized established public market, would, in our view, provide greater visibility within the investment community, including institutional investors, and an increased opportunity for greater trading volumes and liquidity for our shareholders. Uplisting to the OTCQB is an important milestone in the Company’s history,” concluded Peter Wojcik.
The listing of PHBI's common stock on the OTCQB remains subject to the approval of the OTCQB and the satisfaction of applicable listing requirements. The company satisfies the published standards for uplisting to the OTCQB Venture Market.
Available statistics indicate that an uplisting from the OTC Pink to the OTCQB can be expected to yield (1) an increase of U.S. shareholders beginning in the first year following uplisting; (2) improved trading volumes and liquidity and (3) an improvement in share price performance. In addition, an uplisting to the OTCQB serves to increase a company's public profile and overall reputation, create better information flow about the company and deliver greater insight into who a company's shareholders are.
Please visit update.pharmagreen.ca for additional information on PHBI’s current business development.
About Pharmagreen Biotech, Inc.
Pharmagreen Biotech, Inc., is a publicly traded (OTC PINKS: PHBI) company. Pharmagreen Biotech Inc. is in the business of providing the highest quality starter plantlets utilizing a proprietary tissue culture process, "Chibafreen", to licensed cannabis cultivators and to CBD / CBG hemp farmers. It also provides other value-added services: plant species identification through DNA testing and certification; live storage of all plant strains using tissue culture and low temperature storage proprietary technology. Utilizing the best tissue cultured plantlets in its state of art greenhouse(s) for highest quality flower tops production. For further information on the company 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:
Current business development:
Update.pharmagreen.ca
Website: www.pharmagreen.ca
Tel: (702) 803 9404
Email: info@pharmagreen.ca
