Business
Pharmagreen Biotech, Inc. Strategic Relationship with Alliance Growers Inc.
Pharmagreen Biotech, Inc. Strategic Relationship with Alliance Growers Inc..
About this update from Pharmagreen Biotech Inc.
[{"type":"text","content":"\nCARSON CITY, NV, July 26, 2018 (GLOBE NEWSWIRE) -- Pharmagreen Biotech, Inc. (f/k/a Air Transport Group Holdings, Inc.), (OTC PINKS: AITGD),  a cannabis biotech company focused on producing cannabis starter plantlets through its proprietary tissue culture process is pleased to announce that its wholly owned Canadian subsidiary, WFS Pharmagreen Inc., is currently completing its pre-construction phase of its 62,000 square foot  cannabis biotech complex. WFS Pharmagreen has filed for regulatory approval from Health Canada for the cannabis biotech complex. The facility will supply over ten million cannabis tissue culture starter plantlets on an annual basis, operating at full capacity.  The company’s plan is reach over ninety percent of production capacity in the first year. Ten million starter plantlets produced at an average sale price of $8 US per plantlet would generate eighty million US dollars in annual gross revenues.\n The company is working closely with its strategic investment partner, Alliance Growers Inc., publicly traded on the Canadian Stock Exchange under (CSE: ACG), and on the Frankfurt Stock exchange under the symbol (1LA). Alliance Growers has the opportunity to own up to 30% equity interest in Pharmagreen’s Cannabis Biotech Complex in Deroche, B.C., Canada.  To date the funds invested by Alliance Growers have been put towards pre-construction phase of the project. Alliance Growers business model integrates well with Pharmagreen’s business plan.  Alliance Growers focus is on the development, acquisition of early stage cannabis grow companies and establishing retail stores via the acquisition of Spyder Vapes Inc. and/or other similar outlets across Canada.  Pharmagreen Biotech will benefit from this relationship with supply contracts for its tissue culture plantlets and for the distribution and sale of Pharmagreen branded medical cannabis products. CEO of Alliance, Dennis Petke stated,” When we were introduced to the Tissue Culture Plantlet business by Peter Wojcik, that changed everything for Alliance. Once we were fully educated on the technology and we fully embraced Mr. Wojcik’s vision, it was clear that the services to be made available through the cannabis biotech complex were going to be a significant improvement to the growing quality and improved...