Pharmagreen Biotech Aims to Update Its Shareholders on Company Focus on CBD Hemp Industry
Carson City, NV - ( NewMediaWire ) - January 05, 2021 - Pharmagreen Biotech, Inc. (OTC: PHBI), a company specializing in the development of high quality tissue cultured starter plantlets, CBD oils, formulations and isolates from hemp plants announced today that we are changing our emphasis to targeting hemp and the CBD industry.
“After taking much time to carefully analyze our strategic options, we have decided that immediate business development in the hemp industry provides for much greater opportunities for Pharmagreen including our ability to operate within federal regulations without the restrictions currently imposed on the marijuana industry,” said Pharmagreen Biotech CEO Peter Wojcik. He went on to say, “Our plan in 2021 and going forward is to build out infrastructure within the US that will generate revenues working with hemp plants and CBD oils, formulations and isolate production.”
The company will provide additional details at a later date of its business plan to fund and roll out its hemp operations. The strict focus on the hemp industry only at this time, will allow the company to do interstate commerce with the entire US, as well as to do business with major banks. The company’s executive team with its extensive hemp industry knowledge has developed working relationships with hemp farmers and other operatives within the hemp industry in the US. The company believes in its business model to provide starter plantlets to farmers and offer a buyback program for their biomass to extract CBD and other non-THC cannabinoids to produce oils, and other derivatives including isolates of the highest quality, which will ultimately provide a competitive advantage starting with farmer, to extraction, to product development, through sales.
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. Pharmagreen and its subsidiary are hemp companies that are becoming the largest producer of hemp plantlets through a proprietary tissue culture process with the 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 plantlets of hemp and other non-cannabis flora while offering full spectrum DNA testing for plant identification, live genetics preservation using low temperature storage for various cannabis and horticulture plants; extraction of botanical oils mainly CBD oil, and to deliver laboratory based services to the North American hemp sector. For further information on the company progress and its facilities please visit www.pharmagreen.ca
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