CARSON CITY, NV, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Pharmagreen Biotech, Inc. (OTC PINKS: PHBI) ("Pharmagreen" or the "Company") is pleased to announce the continued advancement of its business development efforts on a significant project in collaboration with a foreign government. Considerable progress has been made, and the Company is optimistic about the wide-ranging benefits this initiative will bring to all involved parties.
By incorporating Pharmagreen’s proprietary Standard Organic Non-Spray Cultivation Procedures (SONSCP), local farmers will be empowered to elevate their agricultural practices through sustainable, organic techniques. In collaboration with its partners, Pharmagreen plans to introduce a premium, connoisseur-grade product line for the global market. Details of this product line will be shared in a forthcoming series of press releases as new information becomes available.
The partnership between Pharmagreen, the foreign government, and local communities is expected to deliver a variety of substantial benefits, including the adoption of advanced agricultural technologies, regional economic diversification, environmental sustainability, job creation, enhanced tourism, and the production of value-added goods for global markets. Additional advantages include research and development opportunities as well as health and wellness benefits. This project is designed to grow year after year and is intended to be a continuous initiative.
As previously communicated, Pharmagreen has avoided toxic financing options since last year and remains committed to maintaining this stance. The Company’s current operations are being funded by its CEO, Peter Wojcik, a significant shareholder who is focused on continued growth and value creation for Pharmagreen and its shareholders. Mr. Wojcik is committed to ensuring the Company remains in good standing.
To facilitate the execution of this project on a non-dilutive basis, Pharmagreen has proposed a partnership structure to form a local subsidiary, which will serve as the operating entity for the initiative. This project is expected to generate significant sustained revenues and profits, details of which will be shared in future press releases.
In addition, Pharmagreen’s all-natural MaxGenomic® supplement is currently available for purchase on Amazon and through the Company’s online store at www.maxgenomicproducts.com. As previously mentioned, Pharmagreen plans to expand its premium product offerings with the introduction of a connoisseur-level product line for the global market.
Further updates and details will be provided in future announcements.
Peter Wojcik, CEO of Pharmagreen Biotech, Inc., expressed his deep commitment to the company since its inception, stating, "I have been personally dedicated to Pharmagreen from the very beginning. I firmly believe that the strongest foundation for any company lies in robust business development supported by sustainable, non-destructive financing options. When those conditions are not immediately available, it is essential to work even harder to achieve them while remaining adaptable to what is both feasible and sustainable."
About Pharmagreen Biotech, Inc.
Pharmagreen is currently developing its nutraceutical products and is focused on generating revenues from its proprietary blend of therapeutic plants and mushrooms, and nutraceutical wellness products. Utilizing the Company's expertise in cultivation technologies, plant genetics, Pharmagreen's transgenic program uses the newest technology available to research and create nutraceuticals, and daily supplements with the potential to improve lives and address a wide variety of ailing conditions. For further information on the Company, and our website, please visit www.pharmagreen.ca
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.
