CARSON CITY, NV, July 06, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE ‒ Pharmagreen Biotech, Inc. (OTC: PHBI), a company specializing in the development of highest quality tissue cultured starter plantlets for the cannabis and hemp industry, is pleased to formally announce the creation of Pharmagreen Inc.’s ETN (Exchange Traded Note) asset-backed bond (the “PHBI ETN Bond”). The Company retained the professional services of Selected Listings, Inc. (the “Listings Agent”) to assist with the process.
The Company is now involved in undertaking the regulatory process to launch the PHBI ETN Bond in short order. The PHBI ETN Bond will be listed and trading on an exchange in Europe that will enable investors to invest in the bond through qualified brokers.
“One of the main reasons we have gone down this path is to appeal to the global investor as we seek to expand our brand awareness through the bond offering,” stated Peter Wojcik, CEO of the Company. Mr. Wojcik added that “What gives us an advantage is the structure of the bond as it is an asset backed with our expected revenues, land lease and other assets, giving an investor a sense of transparency and comfort.”
On or about May 22, 2020, the Company filed a Current Report on Form 8-K providing certain details about the PHBI ETN Bond. Additional details will be provided in a Current Report on Form 8-K once the process is fully complete.
“We will endeavor to have a global portfolio of investors in the bond, from industry partners to financial institutions, hedge funds and family offices,” believes Mr. Wojcik.