Pharmagreen Biotech, Inc. (OTC Pink: PHBI)

 

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Pharmagreen Biotech, Inc. (OTC Pink: PHBI)
The Future of Cannabis
 

        Website: www.pharmagreen.ca
    

Pharmagreen Biotech, Inc. (OTC Pink: PHBI)
plans to provide the highest quality starter cannabis plantlets through its proprietary tissue culture process, "Chibafreen", to licensed Cannabis growers and to CBD hemp farmers with its proprietary hemp strain “CBD Dana” for high CBD hemp farming. It also provides other value added services: plant species identification through DNA testing and certification; live storage of strains using tissue culture low temperature storage proprietary technology, and R&D for the development of optimal cultivation schedules for its cannabis strains.

PHBI is currently in the application process for the Access to Cannabis for Medical Purposes Regulations (ACMPR) with Health Canada for its Cannabis Botany Center in Deroche, B.C. The Company has applied to Health Canada for a license to produce and sell tissue culture plantlets and cannabis oil. May 28, 2019 PHBI announced its Canadian subsidiary, WFS Pharmagreen Inc., received notification that Health Canada had no critical concerns with its application, which confirmed all of the required information submitted had been accepted by Health Canada. Once PHBI raises sufficient capital to complete the construction of their Cannabis Biotech Complex, Health Canada will conduct its final inspection before granting the license. PHBI recently updated its development plan to include a high-tech, year-round greenhouse to ensure 99.99% success rate of the starter plantlets for transport and transplant with its acclimatization techniques. This greenhouse could potentially be up to an acre in size.

In an effort to meet its capital needs, PHBI recently filed an S-1 to raise US$40 million. On July 18, 2019 PHBI announced the Securities and Exchange Commission had declared its S-1 effective. PHBI's form S-1 (file 333-230413) calls for the sale from treasury of up to 20,000,000 shares of the Company's Class A common stock at an issue price of $2 per share, and the resale of 4,051,725 shares of common stock from selling stockholders.

“CBD Dana”

“CBD Dana” is PHBI’s proprietary seedling strain. “CBD Dana” produces hemp that yields 14% CBD content compared to the industry's average CBD content of only 1%. Hemp farmers are demanding thousands of acres of the company's "“CBD Dana”" seedlings. “CBD Dana” females yield about 196 Kilograms (432 pounds) of CBD isolate per acre, while industrial hemp only yields approximately 7 Kilograms (15 pounds) of CBD isolate per acre. PHBI’s method and process of farming high CBD biomass (unpollinated all female flower tops) from tissue cultured starter plantlets with researched cultivation schedules makes it a very lucrative and efficient model of farming the biomass to produce highest quality CBD extracts for human and animal formulations. PHBI management estimates it has at least $200 million in orders for its seedlings at this time.

On Oct. 04, 2019, PHBI announced its Canadian subsidiary, WFS Pharmagreen Inc., signed a Letter of Intent with Carpere Inc. for the supply of “CBD Dana” hemp starter plantlets for the 2020 farming season and beyond. Under the terms of the agreement, PHBI will supply Carpere female high CBD hemp starter plantlets to produce the high CBD flower tops, as well as CBD whole hemp oils and isolate. Carpere owns and manages farmland, on behalf of farmers, in excess of 100,000 acres throughout Canada. PHBI plans to supply up to 250,000 “CBD Dana” starter plantlets for the 2020 outdoor hemp growing season in Canada while continuing to develop its 63,000 square foot Cannabis Biotech Complex. Once PHBI's Cannabis Biotech Complex is complete, the Company will be able to produce up to one million tissue cultured starter plantlets per month.

Final Approval

The third stage in the application approval process for the Access to Cannabis for Medical Purposes Regulations (ACMPR) with Health Canada is Confirmation of Readiness. In this final stage, confirmation is provided to the applicant that the application substantively meets the requirements and asks for confirmation that the site is ready for licensing or inspection. This stage will be dependent on the timing of completing the development of its site in Deroche, British Columbia Canada.

PHNI is currently completing its engineering stage and has begun site development work for the building process of its 63,000 square foot biotech complex. 1155907 B.C. Ltd., a wholly owned subsidiary of WFS Pharmagreen Inc., which is a wholly owned subsidiary of Pharmagreen Biotech Inc., has a registered covenant with the land titles office in British Columbia, Canada, with the right to use the land and with the right to purchase the land in the next five years on a cost plus expenses basis from the owner of the property.



OTCQB Symbol: PHBI

Current Price: $1.00

Shares Outstanding: 75.6 million

Market Cap: $75.6 million
52 Week Trading Range:

52-Week Low: $0.65

52-WeekHigh: $3.60

Corporate Offices:
2987 Blackbear Court
Coquitlam, BC V4E 3A2
Canada

Website: www.pharmagreen.ca
Phone: (702) 803-9404
Email: pwojcik@telus.net


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