---
schema_version: "secwatch.filing_event.v1"
accession: "0001477932-22-009028"
form_type: "8-K"
ticker: "PHBI"
cik: "0001435181"
company_name: "Pharmagreen Biotech Inc."
filed_at: "2022-12-02T23:59:59+00:00"
generated_at: "2026-06-21T10:09:51.917223+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Pharmagreen issues $50K convertible note at 42.5% discount; hires Tyrell Crosby for 10M shares

## Summary
- Convertible promissory note: $50,000 principal, 10% interest, due May 1, 2023; conversion price is 57.5% of average 3 lowest trading prices (42.5% discount).
- Note issued to accredited investor JanBella Group LLC under Regulation D; company may prepay at 125% within 120 days, no prepayment after.
- Product endorsement agreement with NFL player Tyrell Crosby: receives 10M common shares for 1.5-year term as brand ambassador for NutraMax Genomic Supplement.
- Crosby also entitled to $1,000 per day plus travel expenses for appearances at company events or shows.
- Company had approximately 444.8M shares outstanding prior to these issuances; potential dilution from note conversion and share issuance.

## SEC filing metadata
- accession: 0001477932-22-009028
- form_type: 8-K
- ticker: PHBI
- cik: 0001435181
- company_name: Pharmagreen Biotech Inc.
- filed_at: 2022-12-02T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1435181/000147793222009028/0001477932-22-009028-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1435181/000147793222009028/phbi_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001477932-22-009028
- JSON: https://secwatch.observer/filing/0001477932-22-009028.json
- Plain text: https://secwatch.observer/filing/0001477932-22-009028.txt

## Key facts
- Material Agreements
  Pharmagreen Biotech Inc. entered into Securities Purchase Agreement with JanBella Group, LLC. valued at $50,000.
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: JanBella Group, LLC.
  - Value: $50,000
  source text: Pharmagreen Biotech, Inc., a (“NV”) corporation (the “Company”) and JanBella Group, LLC. (the “Investor”) have entered into a Securities Purchase Agreement dated as of November 2nd, 2022 (the “Agreement”) providing for the issuance of the Convertible Promissory Note in the principal amount of $50,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1435181/000147793222009028/0001477932-22-009028-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.