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Pharmagreen selects Signify to supply Philips LED lighting for its Cannabis Biotech Complex in British Columbia

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The strategic supply partnership with Signify's Philips LED lighting technology adds the high-tech value and opens the door for future cooperation in advancing solutions for the tissue culture industry.

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Company: Pharmagreen Biotech
Website: http://www.PharmaGreen.ca
Stock Symbol: OTCPink: PHBI
Date Published: Jul 25, 2019
Transcript: Available

Video Transcript:

I’m Nadika Viswakula for Investmentpitch Media

Pharmagreen Biotech has selected Signify's Philips GreenPower LED Lighting for its Cannabis Biotech Complex currently under development.

In May, Pharmagreen announced that its Canadian subsidiary, WFS Pharmagreen Inc., had received notification from Health Canada that it completed its preliminary review of the company’s cannabis license application and had no critical concerns as the time.

Design of the state-of-the-art medicinal cannabis research and production complex has been completed and the facility is now in the development and construction phase.

The Cannabis/Botany Biotech Complex is an innovative and proprietary design of a 63,000 sq. ft. building complex that will be nestled on 25 acres, in the small farming community of Deroche, 110 kilometers east of Vancouver, British Columbia.

Once the Cannabis Biotech Complex is completed, Health Canada will conduct its final inspection before granting the license.

The project, which is expected to be completed in the summer of 2020, makes use of cutting edge technologies in its engineering and construction resulting in a secure, uniquely advanced, eco-friendly and semi-automated tissue culture, cleanroom laboratory and research facility.

The complex will be a large-scale tissue culture production, research and storage facility of genetically identical, disease and pest-free plantlets with consistent and certifiable constituent properties ensure the highest standards for safety and quality of Cannabis as medicine.

Pharmagreen intends to use this facility as a blueprint for additional future buildouts in United States and Internationally.

The strategic supply partnership with Signify's Philips LED lighting technology adds the high-tech value and opens the door for future cooperation in advancing solutions for the tissue culture industry.

Signify, formerly Philips Lighting, is the world leader in lighting, with 2018 sales of EUR 6.4 billion, and approximately 29,000 employees in more than 70 countries.

Peter Wojcik, President and CEO of Pharmagreen Biotech, stated: "This is the next step of our growth and development strategy. Utilizing the latest LED technology, developed by Signify, enables us to produce highest quality, medical grade, cannabis starter plantlets and combined with the technologies of dimmable and changeable light spectrum allows us not only to dial into individual cannabis strains but also to grow any plant flora, thus making our business model recession proof."

The company plans to advance the technology of tissue culture science and to provide the highest quality 100% germ free, disease free and genetically identical plantlets of cannabis and other flora.

The company will offer 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.

Growing medicinal cannabis under the right conditions including light, soil and irrigation, can reduce or even eliminate the threat of genetic disease and airborne pathogens resulting in robust plants.

Ries Neuteboom, Business Development Manager for Signify North America, stated: "The right light can have a strong impact on the growth of crops. Every plant is different and Pharmagreen has a specific idea of what variety they will grow. We're pleased to use our lighting experience to customize the light "recipe" to ensure the best light intensity and color spectrum to optimize growth, and work with our Horticulture LED partners Agrolux who are supplying the modules."

Pharmagreen has received SEC approval to sell up to 20 million treasury shares at US$2.00 per share.

The shares are trading at US$2.11.

For more information, please visit the company’s website, www.PharmaGreen.ca, or contact Peter Wojcik, CEO, at info@pharmagreen.ca.

I’m Nadika Viswakula for Investmentpitch Media