Pharmagreen Prepares for Entry Into the Multi-Billion Dollar California Cannabis Industry
Carson City, Nevada--(Newsfile Corp. - November 11, 2021) - Pharmagreen Biotech, Inc., (OTC Pink: PHBI), is pleased to announce that in advance of its entry into the multi-billion dollar California cannabis industry and the development of its Tissue Culture Centre, the company has engaged its research and development corporate partner to commence developing tissue culture protocol for each of the top Cannabis Strains sold and grown in California. This cannabis market is estimated to be over $6 Billion annually. The cannabis strains targeted for protocol development (scientific process for plant reproduction where each strain has its own protocol) are some of the top strains currently being grown in California by cultivators. California market is very unique with well established, highly experienced breeders for top Cannabis strains. Their strains are never lacking in potency, flavor, or aesthetics.
Each strain development can take months to complete. Pharmagreen's commencing the research on the development of the tissue culture protocols will provide a much faster time to full scale production of starter plantlets. Pharmagreen adopting a vertically integrated business model, by getting a nursery license once the California acquisition is completed, the Golden State represents a significant opportunity. Few cannabis companies have recognized the importance of the cannabis nursery for providing a long-term path to increased market share statewide. Pharmagreen is looking to carve out a competitive advantage; the cannabis nursery license offers the ability to design and cultivate unique strains capable of differentiating ourselves from the competition. A nursery license in California also allows the holder to sell those starter plants and seeds to another state cannabis license holder, including other nurseries, cultivators and processors.
Controlling the entire supply chain from plantlet (tissue cultured starter plantlets) to sale (state of the art greenhouse grade A flower tops) gives Pharmagreen a high level of control over product quality. In this way, vertical integration enables us to target specific customer profiles, generating a higher rate of return with each strain and product design. Pharmagreen has a strong focus on genetics which also puts us in a better position to develop new proprietary strains and supply tissue cultured starter plantlets to third-party growers.
Dr. Fawzia Afreen (Ph. D. in Botany), head of research and development of the research partner company, comments, "The ongoing successful development of the Initiation protocol and Multiplication protocols for our varieties of Cannabis strains and other high valued plant species, is another major benefit for Pharmagreen for future mass production of the disease-free, healthy, all genetically the same, tissue cultured starting material for mass scale production, at Pharmagreen's tissue culture starter plantlet production facilities."
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 Pink: 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/102991