- 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…
NOTE TO INVESTORS: The latest news and updates relating to PACR are available in the company’s newsroom at http://cnw.fm/PACR
CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.CannabisNewsWire.com
Do you have questions or are you interested in working with CNW? Ask our Editor
CannabisNewsWire is part of the InvestorBrandNetwork.