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Pharmagreen's Tissue Culture Revenue Model

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CARSON CITY, NV, Aug. 14, 2018 (GLOBE NEWSWIRE) -- Pharmagreen Biotech, Inc., (OTC PINKS: PHBI), through its wholly owned Canadian subsidiary, WFS Pharmagreen Inc., announces that it plans to produce over 10 million sellable tissue culture starter plantlets annually in its cannabis biotech complex. 

Pharmagreen is currently working on supply contracts with licensed growers.  The current price for clone starter plantlets offered only by a handful of licensed producers is CDN $15 per clone or higher.  Pharmagreen plans to sell its superior tissue cultured starter plantlets for CDN $8 or more thereby providing superior quality plantlets at a reasonable price point to all licensed growers.  With a planned production of over 10 million plantlets annually and a selling price of CDN $8 or more each, Pharmagreen's revenue model from tissue culture sales can reach up to CDN $80 Million or more on an annual basis.   The direct costs of production per plantlet is approximately CDN $1 dollar, thereby generating a potential gross profit margin of CDN $70 Million or more annually.  Per square foot of production space, Pharmagreen revenue model is poised to be one of the highest profit margins as compared to other ACMPR (Access to Cannabis for Medical Purposes Regulations) licensed producers in Canada.

Commenting on Pharmagreen's tissue culture revenue model, Peter Wojcik, President and CEO, stated, "We are pleased with our company's focus on its core business of producing tissue cultured starter cannabis plantlets which are of consistent superior quality product at a significantly lower cost to the licensed growers, it's a win-win for all." 

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.  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 62,000 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. 

Contact Information:

www.pharmagreen.ca

Tel: (702) 803 9404

Email: info@pharmagreen.ca

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