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Pharmagreen Biotech Inc. (PHBI)

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0.0178+0.0001 (+0.68%)
As of 11:10AM EST. Market open.
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Neutralpattern detected
Previous Close0.0177
Open0.0177
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range0.0177 - 0.0200
52 Week Range0.0060 - 1.3200
Volume1,136,132
Avg. Volume4,703,446
Market Cap1.705M
Beta (5Y Monthly)2.00
PE Ratio (TTM)N/A
EPS (TTM)-0.0230
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • GlobeNewswire

    Pharmagreen Issues Statement on Exiting the Chapter 11 Process

    CARSON CITY, NV, Oct. 19, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire \-- Pharmagreen Biotech, Inc., (OTC PINKS: PHBI), a company specializing in the development of tissue cultured starter plantlets for the hemp industry, today announced that it is no longer under chapter 11 proceedings of the U.S. Bankruptcy Code. On August 11, 2020, the Company voluntarily filed for petitions for relief under chapter 11.  On October 09, 2020, a stay order was lifted by a United States District Judge of the United States District Court for the Southern District of New York, on an action filed by EMA Financial LLC. The company does not plan to appeal this ruling. This effectively removed the company from its Chapter 11 bankruptcy proceedings and protection.“Now, that the Company is out of Chapter 11 proceedings, we are committed to moving forward with the development of our business as planned,” concluded Peter Wojcik, CEO of Pharmagreen.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 tissue culture company that produces hemp plantlets through a proprietary tissue culture process.  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 hemp plantlets with high Cannabinoids content and with less than 0.3% THC and other flora while offering full spectrum DNA testing for plant identification, live genetics preservation using low temperature storage for various plant species.   For further information on the company progress on the construction of a 63,000 square foot “Tissue Culture Biotech Complex” please visit www.pharmagreen.caSafe Harbor StatementThis 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: www.pharmagreen.ca Tel: (702) 803 9404 Email: info@pharmagreen.ca

  • GlobeNewswire

    Pharmagreen Provides Next Significant Scientific Development Update

    CARSON CITY, NV, Sept. 16, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Pharmagreen Biotech, Inc. (PHBI), a company specializing in the development of high quality tissue cultured starter plantlets for the cannabis and hemp industry, is pleased to provide another scientific development update. Since December 2019, the research and development company, Botanical Research In Motion Inc. (B.R.I.M.), has continued very successful growing trials with “CBD Dana” hemp strain, and, on March 19, 2020, submitted its data for strain registration to be listed on the List of Approved Cultivars (LOAC) in the European Union. Additionally, it is anticipated that the “CBD Dana” hemp strain will be submitted to Health Canada prior to end of, 2020 for listing on the Canadian list of approved cultivars (LOAC) status. Once listed, the significance of receiving the LOAC registration status for “CBD Dana” in Canada and the European Union will allow Pharmagreen to expand its sales of plantlets and its derived Cannabinoids oils to the largest CBD market in the world – the European Union as stated in the July 28, 2020 news release. Once more ongoing research by B.R.I.M. has led to the development of its own scientific process and application for the production of feminized hemp seeds, in particular utilizing the proven “CBD Dana” strain.  This scientific process involves the production of pollen from the male plant that carries the X chromosome only without the use of any genetic modification processes.  While the female plant always carries the X chromosome the resulting combination due to natural pollination is XX thereby resulting in feminized seed only. This has huge significance for CBD hemp farmers as they only want female plants in their fields as they are the ones that produce the flowers from where the cannabinoids are derived either in oils or dried hemp buds.This also adds another income stream opportunity for Pharmagreen as the company plans to produce tissue cultured plantlets, utilize B.R.I.M.’s newly developed technology to produce the FHS (Feminized Hemp Seed) for the global market, and also cultivate CBD Dana hemp strain for its high CBD and other cannabinoids content in its greenhouse(s) when built. B.R.I.M.’s research and development objective for Pharmagreen’s Cannabis Biotech Complex is to help protect and advance agriculture by providing proprietary, automated, and cost effective mass propagation technologies for production of disease-free plants using tissue culture techniques and other plant sciences for growers of today utilizing innovative technology in the cannabis space.“B.R.I.M. science and research will be made available to Pharmagreen to exploit once the company is funded, builds its tissue culture complex and greenhouse(s) and receives its cannabis licence from Health Canada. Also pending U.S. Senate vote to federally legalize cannabis, to be held on September 21, 2020, the company will give serious consideration at building its facility in the U.S. We have many great opportunities ahead of us to really excel and we look forward to concluding our Chapter 11 process as soon as possible so we can move on with our ETN listing in Europe and get our construction financing under way,” concluded Peter Wojcik.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 tissue culture company that is becoming one of the largest producers of hemp plantlets through a proprietary tissue culture process with 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 hemp plantlets with high Cannabinoids content and with less than 0.3% THC and other flora while offering full spectrum DNA testing for plant identification, live genetics preservation using low temperature storage for various plant species; for further information on the company progress on the construction of a 63,000 square foot “Tissue Culture Biotech Complex” please visit www.pharmagreen.caSafe Harbor StatementThis 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:www.pharmagreen.caTel: (702) 803 9404Email: info@pharmagreen.ca

  • GlobeNewswire

    Pharmagreen Biotech Aims to Restructure Debt, Protect the Company and Its Shareholders

    CARSON CITY, NV, Aug. 11, 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, announced today that the Company has voluntarily filed for petitions for relief under chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Nevada (the “Court”). “As we started to execute on our business plan, earlier this year before the spread of COVID-19, we completed financing that carried toxic terms after 6 months. Due to the Pandemic, our ETN process got delayed as Europe shut down for over two months, and these notes became due and as result these lenders are seeking very toxic conversions that would essentially wipe out the company’s valuation. After taking much time to carefully analyze our strategic options, we have decided that a voluntary chapter 11 filing provides the best possible outcome for Pharmagreen,” said Pharmagreen Biotech CEO Peter Wojcik. “We plan to engage all our lenders to settle debts in a way that is fair and beneficial for all parties going forward.”The Company has filed customary motions with the Bankruptcy Court that will allow, upon Bankruptcy Court approval, the Company’s ability to continue operations in the ordinary course of business, including, among other things, payment of suppliers and vendors and the use of cash collateral. These motions are typical in the Chapter 11 process and the Company anticipates that they will be approved shortly after the commencement of its Chapter 11 case. The Company plans to use the Chapter 11 process to build a comprehensive restructuring plan that will allow the Company to emerge from Chapter 11 with a manageable balance sheet.“We are working non-stop on expediting the in-court restructuring that will allow us to maintain our operational momentum and uphold the obligations we have to our shareholders,” says Wojcik. “We could not allow these toxic lenders to harm our company any further and the investments made by our loyal shareholders.”“We feel that we can secure necessary additional funding and, coupled with Pharmagreen Inc.’s ETN asset backed bond scheduled to begin trading on the European markets in the near future, we can successfully exit this process with a more successful future.”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 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 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.caSafe Harbor StatementThis 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: www.pharmagreen.ca Tel: (702) 803 9404 Email: info@pharmagreen.ca