CARSON CITY, NV, July 18, 2019 /PRNewswire/ - Pharmagreen Biotech, Inc., (OTC PINKS: PHBI), announced today that the Securities and Exchange Commission ("SEC") has declared effective the Company's registration on Form S-1 (file 333-230413) relating to the sale from treasury of up to 20,000,000 shares of the Company's Class A common stock at an issue price of $2 per share, and the resale of 4,051,725 common stock that have been issued to the Selling Stockholders named in this registration statement.
Pharmagreen will not receive any proceeds from the re-sale of the securities by the selling security stockholders. Pharmagreen will receive the proceeds from the sale of the 20,000,000 shares issued out of treasury.
The registration statement may be accessed through the SEC's website at www.sec.gov. A copy of the prospectus relating to the offering may be obtained from Pharmagreen by writing Pharmagreen Biotech Inc., 2987 Blackbear Court, Coquitlam, BC, Canada, V3E 3A2 or emailing email@example.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sales of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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 cannabis company that is becoming the largest producer of cannabis plantlets through a proprietary tissue culture process with opportunity to become one of the largest players globally. Pharmagreens' 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 cannabis and other 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 Cannabis and agriculture sectors. For further information on the company progress on the construction of a 63,000 square foot "Cannabis 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.
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.
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