Pac Roots Cannabis Corp. (CSE: PACR) (OTCQB: PACRF) Raises $1.34 Million, Keeps Foot on Expansion Accelerator as a Premium Brand

March 24, 2021 2:50 PM EDT
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  • Pac Roots has differentiated its hemp product, resulting in sale of all 105,000 pounds of industrial hemp from its first harvest in December
  • Pac Roots has made series of business development moves lately, expanding its footprint in Canada, into U.S.
  • Positive developments supported private placement in February that raised gross proceeds of $1.34 million, capital that will be used to keep growing the company

After what could be described at best as a lull from 2019 through mid-2020, the legal cannabis industry has found its legs again on optimism that the current U.S. administration will shepherd in increasingly liberal standards towards the plant and its derivatives. The market still faces challenges, though, as consumer uptake has been slower than initially expected and a copious number of licensed producers have overfilled supply chains and squeezed margins as “me too” companies employ race-to-the-bottom pricing. For a company like Pac Roots Cannabis (CSE: PACR) (OTCQB: PACRF), the key to profitability resides in differentiation, which underpinned a highly successful first harvest for the Canadian company in December.

Using a genetics-focused harvest approach, Pac Roots Cannabis and its JV partner Rock Creek Farms completed a pilot run on 100 acres of land in British Columbia (B.C.) that produced 105,000 pounds of&

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