PHBI - Pharmagreen Biotech Provides Updates on Its Ongoing Business Developments
Pharmagreen Biotech, Inc. (OTCQB: PHBI) is advancing its acquisition of Long Valley Farms (LVF), which is applying for crucial licenses to operate in cultivation, manufacturing, and retail. LVF is preparing to plant 1,200 cannabis plants, with harvest expected in 45-60 days. The company focuses on proprietary therapeutic cannabis strains intended for live rosin production, aiming to maximize cannabinoid and terpene profiles. This acquisition aligns with Pharmagreen's strategy to leverage its cannabis tissue culture technology, Chibafreen, as a key revenue source.
- Acquisition of Long Valley Farms supports vertical integration and revenue generation.
- LVF's proprietary strains are designed for high-quality live rosin products.
- Immediate production and sales potential with off-site manufacturing options.
- Dependency on obtaining necessary licenses for operational capability.
- Market acceptance risks of new therapeutic cannabis products.
CARSON CITY, NV, March 24, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Pharmagreen Biotech, Inc., (OTCQB: PHBI), (“Pharmagreen” or the “Company”) is pleased to report ongoing business developments with Long Valley Farms (“LVF”) while completing its fundraising for the acquisition. LVF is continuing its applications processes for the nursery license as well as the micro-business license which will give it the ability to operate from starter plantlets to cultivation, to manufacturing, to distribution, and to retail, thus securing
Since live rosin is produced by pressing the whole plant for maximum entourage effect, it is very important to have the right genetics that maximize the Cannabinoids and the Terpenes profiles. LVF has developed proprietary, highly-valued therapeutic cannabis strains specifically for its live rosin production and is at the indication point for spring planting. LVF is currently planting 1,200 plants, 200 per 1,000 sq. ft, and within 45 to 60 days will be harvesting and processing the first crop of 2022. Strains planted are a Biscotti origin auto flower strain, the legacy B52 bomber auto flower, and Quick 16 auto flower.
B52 auto flower is a heavy CBG producer which carries neurological benefits, including a decent CBN rating, and these two are great for anti-inflammatory to blocking COVID, as we have seen in recently published studies by the medical community. For the recreational users, this is an ideal heavy hitting strain, as CBG is the neurological activator for THC in the brain, so it has long, heavy effects.
Biscotti auto flower is a potent indica-dominant hybrid Cannabis strain made by crossing Gelato 25 with Sour Florida OG. This strain produces a cerebral high that leaves consumers feeling relaxed, creative, and buzzy from head-to-toe. With a THC level of
Quick 16 is an OG Ruderalis strain and part of LVF’s recent breeding program. It's a true gutter plant that tests off the charts with terpenoids, making this is a preferred nighttime strain for pain and sleep.
These in-house developed strains form an integral part of the genetics library and contain the desired cannabinoids and terpenes profile. The auto flower traits also reduce the flowering cycle, thereby increasing frequency of production, and provide high quality, consistent biomass and flower tops for Pharmagreen’s therapeutic live rosin brand of products.
The acquisition of Long Valley Farms is a strategic component of Pharmagreen’s strategy to convert the revenue potential of its proven proprietary cannabis tissue culture technology, Chibafreen, into realized revenue as its major profit center for the company.
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 cannabis farm located in the heart of the 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 strains for organically-produced, highest quality flower tops.
About Pharmagreen Biotech, Inc.
Pharmagreen Biotech, Inc. (OTCQB: PHBI) 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 including: plant species identification through DNA testing and certification, live storage of all plant strains using tissue culture, and low temperature storage proprietary technology. The Company is utilizing the best tissue cultured plantlets in its state-of-the-art greenhouse(s) for the 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.
Contact Information:
Current business development:
update.pharmagreen.ca
Website:
Tel: (702) 803 9404
Email: info@pharmagreen.ca
FAQ
What recent business developments occurred for Pharmagreen (PHBI)?
What types of cannabis strains is Long Valley Farms developing?
When is Pharmagreen expecting to harvest its cannabis plants?
What is the significance of the Chibafreen technology for Pharmagreen?
What licenses is Long Valley Farms applying for?
