CARSON CITY, NV, April 28, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Pharmagreen Biotech, Inc., (OTC PINKS: PHBI), is pleased to update its shareholders on the company’s developments and progress. With the balance sheet cleaned up, recent company filing, PHBI intends to move forward with financing for further business developments.
Pharmagreen’s management is currently considering a number of options for initial asset acquisition, as stated on April 19, 2021 news release. The company identified numerous properties for potential acquisition in the U.S. The extent of the initial asset development will depend on the asset and its present infrastructure. The company plans to acquire the said asset, further develop it and build additional revenue producing models.
Pharmagreen plans to build its proprietary designed tissue culture starter plantlet production facility. The initial phase is to develop the lab space for the initiation stage and duplication stage to create the necessary stock of plant material for continued sales. The sales of fully acclimatized plantlets will be available after twelve months from beginning of construction. Additional development will include lab space for live storage of plant tissue cultures. This proprietary live tissue culture storage technology will also provide additional revenue model and most importantly provide a service for preservation of any plant species indefinitely without the risk of genetic drift or plant species extinction. Part of this infrastructure development includes the construction of extraction facility for the production of hemp derived raw cannabis oils, that are further optimized for THC – free and/or winterized, a process that separates fats and waxes from plant oil extract. This extraction lab and its equipment will be scalable as to allow for further process such as distillations, CBD isolate production and Delta 8. Final CBD and other Cannabinoids’ product manufacturing will be implemented after the lab expansion phase. This infrastructure build is referred to as, “Biotech Complex.”
About Biotech Complex
Pharmagreen’s proprietary design and engineering of the tissue culture starter plantlet production facility has a number of important aspects, such as, any plant species can be produced, genetic preservation via live plant tissue storage technology, green and energy saving construction, and utilizing latest IoT (Internet of Things) technologies. Automation and IoT will provide the level of detail and control required to make the final product predictable, consistent and more suitable for incorporation into medicine. The extraction system will be of latest design in efficiency and extraction optimization. The building design and equipment will be in compliance for GMP certification. Pharmagreen’s CBD and other cannabinoid oils, and products produced under cGMP designation will be eligible for export and sale in other global markets.
Beyond Cannabis
Pharmagreen’s future plans are to build the Biotech Complex in areas of need where global agriculture demands the supply of best starter plantlets genetics, whether it be for medical, nutritional or commercial value, plant preservation and botanical oils extraction.
Up listing to the OTC QB
Pharmagreen plans to submit its application to the OTC Markets for review, consideration for up listing its trading status to that of OTC QB listing from its current Pink Sheet status. We anticipate to be submitting the request in the near future.
About Pharmagreen Biotech Inc.
Pharmagreen Biotech, Inc., is a publicly traded (OTC PINKS: PHBI) company. Pharmagreen is a company focused on the CBD hemp industry for the production and supply of starter plantlets through a proprietary tissue culture process with the opportunity to become one of the largest players globally. 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 to CBD hemp farmers and other flora while offering full spectrum DNA testing for plant identification, live genetics preservation using tissue cultures in low temperature storage for all plant species; 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 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:
Tel: (702) 803 9404
Email: info@pharmagreen.ca