Pharmagreen Harnesses the Revenue Potential of Proprietary Cannabis Tissue Culture Technology Asset

Carson City, Nevada, December 02, 2021 (GLOBE NEWSWIRE) – Pharmagreen Biotech, Inc., (OTC Pink: PHBI), today released a leadership update from CEO Peter Wojcik. The update is the first in a series of stories describing the company’s strategy as it begins to convert the revenue potential of its proprietary intellectual property into realized revenue. The update is included in its entirety below:

Strategic update from CEO Peter Wojcik

Pharmagreen has reached an exciting transitional stage where our proven intellectual property asset will now be leveraged to begin generating and growing revenue.

Pharmagreen has a proprietary tissue culture process that can be applied to the cannabis industry to increase the scalability of industrial cultivation operations while maintaining genetic purity and improving quality production.

Pharmagreen can produce starter seedlings for the CBD hemp and cannabis industries through the application of a proprietary in vitro plant tissue culture process called “Chibafreen”. This proprietary process will produce seedlings that are genetically identical, free from pests and diseases with consistent and certifiable constitutive properties.

Today, Pharmagreen is building an operation around its proprietary Chibafreen process to monetize the value of the asset.

To prepare for this transition, in May 2019, Pharmagreen went public through a reverse merger. No reverse split has been executed as part of the reverse merger and there are currently no plans for a reverse split.

Management has now launched an OTCQB application as part of its overall multi-faceted strategy to transform the potential value of recurring revenue from its Chibafreen asset into recurring realized revenue.

The centerpiece of our transition strategy is a state-of-the-art 12,000 square foot Internet of Things (IoT) enabled greenhouse on 12 acres in northern California that has the potential to house an operation that, at full capacity, can produce nearly $ 10 million in unleveraged free cash flow. annually. Additionally, Pharmagreen’s plans for a tissue culture starter plant production facility, at the same site in California, will generate approximately $ 30 million in gross revenue operating at full capacity.

We plan to start generating revenue next year in 2022 and rapidly expand the revenue potential of these early installations over the next five years. We also plan to add additional revenue streams built around Chibafreen’s assets in locations yet to be determined.

Over the next few weeks, the company will today issue a series of letters to shareholders building on it to articulate in clear and simple terms the details of each key aspect of the overall strategy to transform Chibafreen’s assets. into a source of recurring income.

Look for the next episode which will be released next week.

Please visit update.pharmagreen.ca for more information on the current business development of PHBI.

About Pharmagreen Biotech Inc.

Pharmagreen Biotech, Inc., is a publicly traded company (OTC Pink: PHBI). Pharmagreen Biotech Inc. is engaged in providing the highest quality starter seedlings using a proprietary tissue culture process, “Chibafreen”, to licensed cannabis growers and CBD / CBG hemp growers. It also provides other value-added services: identification of plant species through DNA testing and certification; live storage of all plant strains using tissue culture and proprietary low temperature storage technology. Using the finest tissue culture seedlings in its state-of-the-art greenhouses for the production of the highest quality flowering tops. For more information about the company, please visit www.pharmagreen.ca and for current business developments, please visit update.pharmagreen.ca

Safe Harbor Declaration

This press release contains forward-looking statements. These forward-looking statements are subject to a number of risks, assumptions and uncertainties which could cause the actual results of the Company to differ materially from those projected in these forward-looking statements. In particular, factors that could cause actual results to differ materially from forward-looking statements include: our inability to obtain additional financing on acceptable terms; the risk that our products and services will not be widely accepted by the market; the inability to compete with others who provide comparable products; the failure of our technology; infringement of our technology with the proprietary rights of third parties; inability to meet consumer demands; the inability to replace major customers; seasonality of our activity. Forward-looking statements speak only as of the date of their publication and are not guarantees of future performance. We assume no obligation to publicly update or revise any forward-looking statements. When used in this document, the words “believe”, “expect”, “anticipate”, “estimate”, “plan”, “plan”, “should”, “intend”, ” power, “” “,” “potential” and similar expressions may be used to identify forward-looking statements.

OTC Markets or any other securities regulatory authority has not reviewed and accepts no responsibility for the adequacy or accuracy of this press release which has been prepared by management.

Contact details:

update.pharmagreen.ca

Phone. : (702) 803 9404
E-mail: [email protected]


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