Pharmagreen Biotech Inc. (PHBI) Announces Exciting Revenue Potential for Its Project
CARSON CITY, Nev., Oct. 10, 2024 (GLOBE NEWSWIRE) -- Pharmagreen Biotech, Inc. (OTC PINKS: PHBI) ("Pharmagreen" or the "Company") is thrilled to highlight the significant revenue potential from its latest project under development. During a special session on Creative Spaces, hosted on X on Monday, October 7, 2024, CEO Peter Wojcik shared exciting insights into the company's business advancements and growth strategies.
Pharmagreen is developing a specialized form of cannabis oil known as Live Rosin, a highly sought-after cannabis concentrate recognized for its unmatched purity, potency, and rich flavor profile. Produced through a solventless extraction process that uses no chemical solvents, Live Rosin sets a new standard for quality in the cannabis industry. Pharmagreen’s proprietary extraction technique ensures the highest cannabinoid recovery rates, while maintaining the plant’s natural properties. This process is further enhanced by the company’s exclusive Standard Organic Non-Spray Cultivation Procedures (SONSCP), ensuring the optimal cultivation and quality of their crops.
Pharmagreen’s innovative farming and processing model is designed to yield an average of 6,000 liters of Live Rosin per 100-acre farm, per crop cycle, depending on the cannabinoid content of the plants. With 4 to 5 crop cycles per year, depending on the strain, the company is poised for significant production output. Live Rosin currently commands retail prices ranging from $40 to $100 per gram in the U.S., with even higher prices in European markets.
Pharmagreen’s projected revenues are impressive:
- At $1 per gram, estimated gross revenues are $19 million in year 1, rising to $32 million by year 3.
- At $5 per gram, revenues are projected to reach $95 million in year 1 and $158 million by year 3.
- At $10 per gram, revenues could soar to $190 million in year 1, growing to $317 million by year 3.
- At $20 per gram, revenue estimates reach $381 million in year 1, and a staggering $635 million by year 3.
To ensure successful distribution and market access for its premium Live Rosin, Pharmagreen is actively seeking distributors, joint venture partnerships, and is exploring the acquisition of a cGMP-certified cannabis lab in Europe. This strategic move would enable Pharmagreen to tap into the lucrative EU cannabis market, where Live Rosin commands even higher prices.
While these revenue projections are grounded in extensive market research and current industry conditions, they are dependent on the successful completion of several key milestones. These include securing cannabis production and processing licenses, export/import permits from foreign governments, land leases, and the necessary funding to establish the cannabis farm and processing facility, as well as ensuring market access for product sales. Pharmagreen is making consistent progress toward these critical objectives, though outcomes cannot be guaranteed at this stage.
Peter Wojcik, CEO of Pharmagreen Biotech Inc., stated, "The revenue projections are indeed promising, and I am eager to bring them to fruition once the initial milestones are achieved. This is an exciting project, and it’s a privilege to be leading its development."
For more details on CEO Peter Wojcik's session on Creative Spaces, please visit
Pharmagreen’s X page at .
About Pharmagreen Biotech, Inc.
Pharmagreen is actively advancing its current project while simultaneously developing its nutraceutical product line, with a strong emphasis on generating revenue from its proprietary MaxGenomic™ blend of therapeutic plants and mushrooms, as well as future wellness supplements. Leveraging its expertise in cultivation technologies and plant genetics, Pharmagreen is conducting research into advanced transgenic plant technologies to create nutraceuticals and daily supplements aimed at enhancing health and addressing a wide range of conditions.
For company’s online store, please visit:
or
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:
Tel: (702) 803 9404
Email:
Online Store:
Corporate Website:
