Pacroots

09/23/2021 PAC ROOTS CANNABIS CORP. ANNOUNCES RESULTS OF FIELD INSPECTION OF OUR JOINT VENTURE IN ROCK CREEK, AND WHOLLY OWNED FACILITY IN KELOWNA, BC.

Pac Roots Cannabis Corp. (“Pac Roots” or the “Company”) (CSE: PACR) (OTCQB: PARCF) (FSE:4XM)  further to our September 8th  2021 News Release, where Chris Farnworth, CEO stated “During the next two weeks, senior management will be visiting our joint ventures and facilities in central British Columbia, to ensure they are aligned with our core business focus”. Management conducted a field inspection of the second season of our Hemp CBD project during the week of September 13, 2021, which consisted of 15+ acres of cultivation which is projected to be harvested in late October. The first crop of 2020 is approximately 50% processed and is estimated to produce gross revenue of $1.3M to the joint venture. The balance of the 2020 crop is expected to be processed in the next six weeks. The total joint venture has an estimated $2.3M in top line revenue.  Chris also stated, “We expect to plant, in excess of 100 acres of Hemp CBD in the 2nd Q of 2022.”

The Rock Creek joint venture consists of 100-acres Hemp CBD and was awarded an industrial hemp license by Health Canada. This permitted Pac Roots Cannabis Corp. to cultivate, sell, possess, and process industrial hemp. Pac Roots entered into a joint venture with Rock Creek, currently held 49% by Pac Roots and 51% by Rock Creek, with the goal to plant hemp CBD seedlings on 100-acres of prime arable land in British Columbia. Planting commenced in mid-June 2020, with approximately 130,000 premium hemp CBD plants placed systematically throughout the two 50-acre parcels.

Management also visited the Kelowna 20,000 square foot Cannabis Indoor Facility last week. Nearly two million dollars has been invested so far; the grow rooms and infrastructure are installed, as well as framing, electrical and the air conditioning completed. Covid-19 set us back approximately 12 months due to shortage of construction personnel and materials.

The revised cost estimate has increased around 30%, thus additional financing will be required to complete.  In addition, changes in Health Canada requirements for security had to be taken into account, subsequently in 2021 clarification was distributed and revised drawings and quotations requested.

About PacRoots

PacRoots Cannabis is the future of genetics. By focusing on elite genetic development, the company expects to maximize the quality of its products, while keeping yields and profit margins high. Pac Roots has formed a strategic partnership with Phenome One, giving the Company complete access to one of the largest live genetic libraries in Canada composed of the finest cultivars. The Company will use these genetics to develop unique strains with various beneficial characteristics. The 350+ licensed live cultivars and over 1800 seed varieties are the result of a meticulous gene selection process, whereby Phenome One filters through as many as 600 individual plants to lock in a specific phenotype for a single strain. Tailored elite cultivars are then selected for indoor or outdoor cultivation based on various environmental, biological, medical and market driven factors. Visit www.pacroots.ca

ON BEHALF OF PAC ROOTS CANNABIS CORP.

(signed) “Chris Farnworth”
 Chief Executive Officer

For further information, please contact:

Pac Roots Cannabis Corp.
www.pacroots.ca
Telephone: 604-609-6171

[email protected]

Not for distribution to United States wire services or dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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 plans with its joint venture partners 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.

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