CARSON CITY, NV, Aug. 11, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Pharmagreen Biotech, Inc. (OTC: PHBI), a company specializing in the development of highest quality tissue cultured starter plantlets for the cannabis and hemp industry, announced today that the Company has voluntarily filed for petitions for relief under chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Nevada (the Court).
As we started to execute on our business plan, earlier this year before the spread of COVID-19, we completed financing that carried toxic terms after 6 months. Due to the Pandemic, our ETN process got delayed as Europe shut down for over two month…
Read the full article at: https://www.globenewswire.com/news-release/2020/08/12/2076824/0/en/Pharmagreen-Biotech-Aims-to-Restructure-Debt-Protect-the-Company-and-Its-Shareholders.html