Vancouver, B.C., June 9, 2020 – Pac Roots Cannabis Corp. (“PacRoots” or the “Company”) (CSE: PACR), is pleased to announce, effective as of yesterday June 8th 2020, Chad Clelland has been appointed to the Board of Directors of PacRoots.
Mr. Clelland’s experience in the sector dates back to 2009 when he purchased Medicalmarijuana.ca which became an information portal for thousands of patients, doctors and growers. Through this company he and his team have helped thousands of Canadians find legal, safe medication. His team also consulted, designed and submitted dozens of applications to the government under the MMPR, ACMPR and Cannabis Act. In 2011, Mr. Clelland also co-founded Greenleaf Medical Clinic; now recognized as a training facility by the University of British Columbia and offers preceptorships to physicians, nurse practitioners and pharmacists. He also co-founded Folium Life Science in 2013, an approved Canadian Licensed Producer. His roles in these organizations have included Chief Operating Officer, head of security, alternate master grower and alternate responsible person in charge.
“We are thrilled to welcome Chad to the board of PacRoots. He brings a tremendous acumen with over 10 years building successful operations in the Cannabis space. Chad has a wealth of corporate governance experience and a substantial repour with Health Canada.” Patrick Elliott, President & CEO
Also, effective of June 8, 2020, Marc Geen has resigned from the Board of Directors but remains part of the PacRoots team as a strategic operations advisor.
Furthermore, the Company announced today that pursuant the company’s Stock Option Plan, an aggregate of 3,650,000 shares have been granted to Directors, management and consultants as incentive stock options at an exercise price of $0.205 per shares. The options are exercisable for a period of three years, ending on June 8, 2023.
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. PacRoots 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) “Patrick Elliott”
Chief Executive Officer
For further information, please contact:
Pac Roots Cannabis Corp.
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.
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.