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.
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. 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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