Pharmagreen Biotech Inc Stock Price, News & Analysis

Pharmagreen Biotech, Inc. (OTC PINKS: PHBI) announced a strategic update from CEO Peter Wojcik, emphasizing the transition towards revenue generation from their proprietary tissue culture process, Chibafreen. This process aims to scale cannabis cultivation while ensuring genetic purity and quality. Pharmagreen is constructing a 12,000 sq ft greenhouse in Northern California, projected to generate nearly $10 million in annual cash flow and $30 million in gross revenues when fully operational. The company plans to begin revenue generation in 2022 and will issue detailed updates over the next few weeks.

Pharmagreen Biotech (OTC PINKS: PHBI) is advancing into the California cannabis market, estimated at over $6 billion annually, by developing tissue culture protocols for top cannabis strains. This strategic move aims to expedite production of starter plantlets and enhance product quality through vertical integration. Pharmagreen plans to obtain a nursery license to cultivate unique strains and control the supply chain, thus targeting specific customer profiles. The company emphasizes its focus on genetics to create proprietary strains for both in-house production and third-party growers.

Pharmagreen Biotech, Inc. (OTC PINKS: PHBI) has submitted its application to uplist to the OTCQB Venture Market. The management believes this uplisting will enhance the company's visibility and opportunity for increased trading volumes and liquidity among investors. The OTCQB is recognized as an established public market by the SEC, requiring companies to maintain financial reporting standards. The uplisting is expected to attract more U.S. shareholders and improve share price performance. Approval from OTCQB is pending.

Pharmagreen Biotech, Inc. (OTC PINKS: PHBI) announced its Regulation A offering received SEC qualification on September 24, 2021. The funds will support the acquisition of a California-based licensed cannabis company and the construction of a greenhouse on 12 acres. The acquisition aims to enable the company to apply for a cannabis nursery license for its Tissue Culture Starter Plantlet production. The company also plans to up-list to OTC QB, ensuring compliance with listing requirements. CEO Wojcik expressed optimism about rapid business development from this fundraising move.

Pharmagreen Biotech, Inc. (PHBI) announced a significant milestone with the signing of a Memorandum of Understanding to acquire assets, including a cannabis cultivation license and property in Northern California, for $2.4 million. The acquisition aims to develop a state-of-the-art greenhouse of approximately 12,000 sq ft and increase annual revenues from $500,000 to over $10 million through advanced cultivation technologies. Pharmagreen plans to initiate a nursery license application for starter plantlets and potentially expand its land holdings by 120 acres for further growth.

Pharmagreen Biotech, Inc. (OTC PINKS: PHBI) announced significant advancements in its business strategy. The company has cleaned up its balance sheet and is pursuing financing for future developments. Key plans include the acquisition of properties for a proprietary tissue culture starter plantlet production facility and an extraction facility for cannabis oils. These initiatives aim to generate new revenue streams and ensure genetic preservation of plant species. Pharmagreen also aims for an up listing to OTC QB status, enhancing its market presence in the cannabis sector.

Pharmagreen Biotech (OTC PINKS: PHBI) has extended its letter of intent with Advanced Bio-oil Technologies Ltd. (ABOT) until June 30, 2021. This extension allows Pharmagreen to explore numerous acquisition opportunities for tissue culture starter plantlet production and cannabinoid oil extraction. Pharmagreen is collaborating with local hemp farmers to produce crude cannabinoid oils, which will be developed with ABOT. CEO Peter Wojcik emphasized ongoing financing plans for acquisitions and biotech development, looking forward to providing updates as progress continues.

Pharmagreen Biotech, Inc. (OTC PINKS: PHBI) announced a settlement with a convertible note lender, ceasing future conversions and effectively removing over $600,000 in convertible debts from its balance sheet. The settlement was submitted for dismissal in the SDNY courts. Only two convertible notes remain, which will be repaid as loans. This achievement allows the company to focus on project funding and bolster shareholder value, as CEO Peter Wojcik highlighted increased interest from mid-tier firms for their growth initiatives in the hemp industry.

Pharmagreen Biotech, Inc. (OTC PINKS: PHBI) has signed a Letter of Intent with Advanced Bio-Oil Technologies Ltd. (ABOT) to supply hemp-derived CBD oils from organically grown hemp biomass. The agreement aims to complete a definitive arrangement by April 15, 2021. ABOT plans to raise up to $3 million for product development and establishment of a processing facility in Nevada, with $1.5 million allocated to each goal. Both companies seek to expand their relationship beyond the supply agreement, leveraging Pharmagreen's expertise in tissue culture and cultivation techniques.