— Pharmagreen Biotech, Inc. (PHBI), a company specializing in the development of high quality tissue cultured starter plantlets for the cannabis and hemp industry, is pleased to provide a scientific development update. Since December 2019 the company’s strategic research and development partner, Botanical Research In Motion Inc. (B.R.I.M.), has continued very successful growing trials with “CBD Dana” hemp strain, and, on March 19, 2020, submitted its data for strain registration to be listed on the List of Approved Cultivars (LOAC) in the European Union. Additionally, it is anticipated that the “CBD Dana” hemp strain will be submitted to Health Canada prior to end of, 2020 for listing on the Canadian list of approved cultivar (LOAC) status.
Once listed, the significance of receiving the LOAC registration status for “CBD Dana” in Canada and the European Union will allow Pharmagreen to expand its sales of plantlets and its derived Cannabinoids oils to the largest CBD market in the world – the European Union.
Additional ongoing research by B.R.I.M. for Pharmagreen’s starter plantlets tissue culture production facility is anticipated to support further sales expansion as the Company’s tissue culture biotech complex will be built to produce any plant species on the planet. The research currently being conducted is the development of tissue culture protocols for plant species that have proven significant medical value but are facing extinction. Not only should Pharmagreen be able to produce the endangered plant species, we believe that we will also be able to store the live plant species indefinitely with proprietary cold storage technology using tissue cultures.
While Pharmagreen’s management has been busy working on securing non-dilutive financing options via its bond listing in Europe, the Company’s research and development has been very successful and continues to show promise as it fits with Pharmagreen’s ideology of being a recession proof facility as we aim to produce tissue cultured plantlets of any plant species.
B.R.I.M.’s research and development objective for Pharmagreen’s Cannabis Biotech Complex is to help protect and advance agriculture by providing proprietary, automated, and cost effective mass propagation technologies for production of disease-free plants using tissue culture techniques for growers of today utilizing innovative technology in the cannabis space.
Plant tissue culture is an advanced way of vegetative propagation of plants. It is a process where small pieces of plant material are sterilized and placed on a grow media that contains nutrients and plant growth regulators to stimulate cell division and ultimately the growth of multiple miniature shoots and eventually plantlets within several weeks. The final product is designed to be disease-free, with each plantlet consisting of the same genetic makeup no matter the number produced.
“Our strategic partner, B.R.I.M. is working on research and development for our high valued plantlet variety production capability and Pharmagreen is securing the necessary funding to achieve our objectives, and we believe that we will soon see the positive results from all of our hard work,” concluded Peter Wojcik.
About Pharmagreen Biotech, Inc. and WFS Pharmagreen Inc.
WFS Pharmagreen Inc. is a wholly owned Canadian based subsidiary of Pharmagreen Biotech, Inc., a publicly traded (OTC PINKS: PHBI) company. WFS Pharmagreen Inc. is a tissue culture company that is becoming one of the largest producers of hemp plantlets through a proprietary tissue culture process with 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 hemp plantlets with high Cannabinoids content and with less than 0.3% THC and other flora while offering full spectrum DNA testing for plant identification, live genetics preservation using low temperature storage for various plant species; for further information on the company progress on the construction of a 63,000 square foot “Tissue Culture Biotech Complex” 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.
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