NEW YORK, Dec. 08, 2020 (GLOBE NEWSWIRE) -- via NetworkNewsAudio — Pac Roots Cannabis Corp. (CSE: PACR) today announces that the company’s president and chief executive officer, Patrick Elliott, has been featured in an exclusive audio interview with NetworkNewsWire (“NNW”), a financial news and content distribution company and one of 50+ brands in the InvestorBrandNetwork (“IBN”). During the interview, Elliott discussed milestones reached since PacRoots began trading earlier this year and looked ahead to 2021.
The broadcast can be heard at The NetworkNewsAudio Interviews Podcast.
After describing how the company started trading in May 2020, Elliott explained PacRoots’ devotion to cannabis genetics. “The company is built on genetics. We believe genetics are paramount, and we deploy these into our own projects and also lean on strategic partners with good infrastructure – land, equipment and access to more land – to subsidize costs,” Elliott said.
He then focused on the importance of generating revenue in the current year. “We quickly realized we need to be revenue generating in 2020. We entered into a joint venture project, 100 acres of outdoor hemp. It was a very timely and strategic joint venture given the outdoor season, which needs to be deployed by June,” Elliott said. “The partners all contributed different assets key to this venture, so we’re going to be generating revenue here in 2020.”
Elliott also discussed the locational advantages of PacRoots’ operations. “The South Okanagan region of British Columbia has a lengthened growing season – about a month on either side. So, we can plant earlier and harvest later, stretching the flowering period to achieve optimum yields.”
A recent property acquisition is expected to catapult the company forward in 2021 and beyond. “I believe this 250-acre asset package that we acquired in early September is a very important addition to our portfolio. It’s land that is undeveloped and is owned outright by PacRoots. It provides a long development pipeline whereby we can invite and incorporate partners, which lowers our CAPEX and development costs. So, this is a massive project that will take us into 2021 and beyond.”
Please listen to the full interview with Pac Roots Cannabis Corp. President and CEO Patrick Elliott at https://nnw.fm/Dudhw.
About Pac Roots Cannabis Corp.
Pac Roots Cannabis Corp. (CSE: PACR) is the future of genetics. By focusing on elite cannabis genetic development, the company maximizes the quality of its products by keeping yields and profit margins high. PacRoots subsidizes costs with several strategic partners: Phenome One, one of the largest live genetic libraries in Canada composed of over 350+ live cultivars as well as their JV partnership with Rock Creek Farms and Speakeasy Cannabis Club, which leverages existing infrastructure, equipment and access to land on a 100-acre hemp project. This combination has the company positioned to be cash-flow positive within its first year of trading.
For more information, visit the company’s website at www.Pacroots.ca.
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Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
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