PHBI – Pharmagreen Announces Affirmed MOU To Acquire Licensed California Cannabis Company


Pharmagreen Biotech, Inc., (OTCQB: PHBI), today announced an affirmed  memorandum  of understanding  (MOU)  to  acquire  Long  Valley Farms LLC, a California based cannabis company. The acquisition includes land, infrastructure, and a Cannabis cultivation license for the operation of a cannabis business in the State of California.

This acquisition is a strategic component of Pharmagreen’s strategy to convert the revenue potential of its proven proprietary cannabis tissue culture technology, Chibafreen, into realized revenue. As part of its vertical growth strategy, Long Valley Farms will immediately commence applying for nursery, distribution, non-volatile extraction and retail Cannabis licenses with the regulatory bodies in the state of California.

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