VANCOUVER, BC / ACCESSWIRE / May 14, 2020 / Pac Roots Cannabis Corp. ("PacRoots" or the "Company") (CSE:PACR), is pleased to provide a corporate update and discuss the strategic R&D direction for the remainder of the year.
PacRoots is an agricultural Cannabis Act license applicant focused on leveraging industry leading genetics combined with innovative and proprietary farming techniques. Pursuant to the Strategic Licensing Agreement announced on April 11th, 2019 with Phenome One Corp. ("Phenome"), PacRoots is entitled to utilize any cultivars in the Phenome library, including a unique access to growing, breeding and cloning IP. Decades of research and development have generated a full range of stress tested cannabinoid cultivars capable of achieving industry leading yields while maintaining resiliency to pests and environmental factors. The PacRoots-Phenome advantage is anticipated to demonstrate shattering yields while maintaining quality and costs which will position us well over the status quo.
PacRoots intends to deploy a global R&D program focused on rigorously testing elite strains in various rich agricultural regions throughout the Americas. A goal of mass selection to achieve the utmost environmental resilience while achieving notable quality and yields. From seed to software, collection data, proprietary techniques and custom nutrient formulas, PacRoots and Phenome will provide the specific knowledge to cultivators in different climates in order to achieve optimal yields for THC, CBD, CBG and other unique cannabinoids. R&D from global testing programs situated throughout the Americas will allow the partnership to deploy and stress test a range of suitable cultivars in the world's lowest cost outdoor growing regions.
The Company expects an industry shift in 2020 from the Covid-19 global pandemic. The ‘new normal' will bring more focus on efficiencies and optimal yields to deliver a cost effective, high quality product to the end user. There has been much to be learnt from the inefficiencies in the Cannabis Industry in recent years which has been detrimental to the credibility of the sector. PacRoots is well positioned to enter the scene and take advantage of the deficiencies which reinforce that genetics and flawless growing techniques are paramount to success. Genetics and systems innovation may be the most overlooked components when comparing cannabis to other established agricultural crops. PacRoots plans to invest into cannabis R&D to ensure a solid foundation is built that will be used by cannabis farmers worldwide.
"The 'new normal' has amplified our business, as cultivators demand the efficiency to produce better yields and products for the end user while maintaining product integrity and potency. Suitable genetics, articular process, and data collection to optimize yield for specific climates are essential to compete in this new global cannabis industry."- President & CEO, Patrick Elliott.
The RAD Americas Genetic Program - Research and Development in Americas Genetic Program
RAD Americas Development and Innovation
- Deploying one of the largest live genetic libraries in Canada, diversified for high yield output and unique climates
- Continued stress testing for indoor, high yield, THC and medicinal genetics
- Continued stress testing for outdoor, high yield, THC and medicinal genetics
- Exotic, genetic cloning for the luxury, high margin, cannabis flower market
- Psychoactive/medicinal ratio testing for effect
- Unique Cannabinoid and terpene elevation and isolation
RAD Americas Field Testing System
- Global testing in different microclimates to test and prove genetic and complete systems for optimal yields.
- Data collection, testing and optimization to prove process for commercial implementation
- High quality yield testing for both THC, CBD, CBG and other unique medicinal cannabinoids
- A recently renovated 20,000 sq ft industrial facility in Lake Country, BC
- Late-stage cannabis act license applicant with an expected license completion of Q3/2020
- This facility will be focused on generating luxury, small batch, high THC, indoor cannabis, grown in BC; a region recognized as one of the best for cannabis cultivation
- The ‘home grow' sector is one that the Company believes is overlooked, which presents a tremendous opportunity as a result of the ‘new normal'.
- With genetic innovation as the foundation of PacRoots, we look to enter into two emerging markets where we've seen an increase in demand on sub-marginal quality, which gives us a clear competitive advantage over others in the sector.
"Globally, we are witnessing new habits that will soon be adopted as a way of life, ‘the new normal'. The resulting outcome involves spending more time at home with a reduction in consumer buying. Price sensitivities will be a driver for many cannabis users in a downward economy, giving home grow a logical market opportunity." - Marketing Executive, Dominic Stann
ON BEHALF OF PAC ROOTS CANNABIS CORP.
(signed) "Patrick Elliott"
Chief Executive Officer
For further information, please contact:
Pac Roots Cannabis Corp.
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Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.
Statements about the Company's future facility expansion plans or Cannabis Act license application are all forward-looking information.
Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include failure to obtain a Cannabis Act license in a timely manner or at all, the continued availability of capital and financing, and general economic, market or business conditions, including the effects of COVID-19. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.
Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Pac Roots Cannabis Corp.