PHBI – Pharmagreen Provides Updates On Its Business Developments Beyond Just Cannabis

CARSON CITY, NV, July 12, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Pharmagreen Biotech, Inc., (OTCQB: PHBI), (“Pharmagreen” or the “Company”) is pleased to announce that, while focused on near term revenue from cannabis, the Company has commenced additional cultivation of other highly valued pharmaceutical plant species and functional therapeutic fungi species. Utilizing the Company's expertise in plant genetics and proprietary tissue culture technologies, Pharmagreen's transgenic program uses the newest technology available to research and create nutraceuticals, protein-based formulations, and daily supplements with the potential to improve lives and address a wide variety of disease conditions.

Pharmagreen plans to set up in the near term an online store with its one of a kind products derived from the non-cannabis, non-controlled substance plant and fungi species grown with veganic and non-spray methods on Long Valley Farms. This gives us our own supply of the highest quality raw material from which we plan to derive our formulations that will be produced on site.

As stated in the previous news release, Pharmagreen is continuing business development with Long Valley Farms while it completes its fundraising for the acquisition. The micro business license application, which will enable significant and immediate revenue generation for the cannabis business, is being processed by Mendocino County, California, and various relevant governing bodies. Meanwhile, the Company is strategically focused on starting sales of Pharmagreen’s brand of elixir products, composed of organically grown and processed fungi and plant species for beneficial and therapeutic effects.

Mr. Ethan Styles of Long Valley Farms stated, “Our focus is about getting the revenue stream flowing as we introduce one of a kind beneficial and therapeutic formulations based on the way Mother Nature intended, derived naturally from plants and fungi. I am glad to be that formulator, while I am currently undertaking studies towards a Ph. D. undergraduate in molecular cell biology.”

“We are laser focused on getting revenues started with the lowest capex as soon as possible. With our combined years of knowledge and hands-on experience with plants and fungi, we plan to create products based on the whole plant and fungi thereby maximizing the beneficial and therapeutic effects. It’s the same approach we use with cannabis. Once the micro cannabis license gets approved, then we will add cannabis-based products, both stand alone and combined with other ingredients, to target specific ailments and to help people prevent illness in the first place,” stated Peter Wojcik, CEO of Pharmagreen.

Learn more about Pharmagreen’s strategy to leverage its proprietary cannabis tissue technology, Chibafreen, in a recent series of management updates from Pharmagreen CEO, Peter Wojcik.

Visit update.pharmagren.ca for additional information on PHBI's current business development.

To watch the video on our current business developments please click here.

About Long Valley Farms LLC

Long Valley Farms is a veganic farm located in the heart of California’s famed Emerald Triangle. The Company was started to further the quality of California sun grown cannabis and is currently being operated with latest technologies as a Veganic non-spray, no-till Cannabis farm. It is cultivating legacy and heritage cannabis strains for organically produced, highest quality flower tops along with other high valued pharmaceutical plant species and fungi.

About Pharmagreen Biotech, Inc.

Pharmagreen Biotech Inc. (OTCQB: PHBI) is building a vertically integrated cannabis business in the state of California. Pharmagreen utilizes its proprietary tissue culture system, called "Chibafreen", to ensure that all plants are disease- and pest-free while maintaining genetic uniformity from one generation to the next. These premium plantlets are then grown to maturity using cultivation technologies developed over three generations by grand master cultivators, on a veganic and non-spray certified farm designated by Mendocino County, California as a Legacy Status cannabis farm. Pharmagreen Biotech is committed to the cultivation and manufacture of the highest quality craft cannabis products.

While Pharmagreen Biotech is focused on near term revenue from cannabis, the Company has commenced additional cultivation of other highly valued pharmaceutical plant species and functional therapeutic fungi species. Utilizing the Company's expertise in plant genetics, Pharmagreen's transgenic program uses the newest technology available to research and create nutraceuticals, protein-based vaccines, and daily supplements with the potential to improve lives and address a wide variety of disease conditions. 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.

Contact Information: Current business development: Update.pharmagreen.ca Website: www.pharmagreen.ca Tel: (702) 803 9404 Email: info@pharmagreen.ca

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