PHBI Pharmagreen Announces Affirmed MOU to Acquire Licensed California Cannabis Company
CARSON CITY, NV, Jan. 06, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire Pharmagreen Biotech, Inc., (OTCQB: PHBI), today announced an affirmed memorandum of understanding (MOU) to acquire Long Valley Farms LLC, a California-based cannabis company.
- CARSON CITY, NV, Jan. 06, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire 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.
- The MOU announced today is an addendum to the MOU executed on July 25, 2021 (previously announced in the news release on August 12, 2021).
- Originally California cannabis accounted for 33.33% of the worlds cannabis but with the evolving market and legalization California has lost parts of that market share.