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PacRoots (CSE:PACR) announces closing of Lords of Grasstown acquisition
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  • PacRoots Cannabis Corp (PACR) is pleased to announce that it will acquire all the issued and outstanding shares of Lords of Grasstown Holdings
  • Grasstown is a well-established cannabis motorcycle lifestyle brand
  • The initial launch of Grasstown USA into California has been well received
  • The total purchase price will include a payment of C$50,000 and the issuance of 6,000,000 common PacRoots shares
  • PacRoots is focused on elite cannabis genetic development. It maximizes the quality of its products by keeping yields and profit margins high
  • PacRoots (PACR) is up 2.17 per cent and is currently trading at C$0.235 per share

PacRoots Cannabis Corp (PACR) is pleased to announce that it will acquire all the issued and outstanding shares of Lords of Grasstown Holdings. Grasstown is a well-established cannabis motorcycle lifestyle brand that originates from the vision of Tyler Hazelwood, founder and director of Lords of Gastown, a renowned Vancouver motorcycle fashion brand. Hazelwood launched the Lords of Grasstown brand in 2013 with a focus on a collection of simple, clean, yet edgy streetwear apparel products.

In 2015, while partnering with BC genetic guru JB, some of Canada’s highest testing medical cannabis strains were brought into the fold. 

Patrick Elliott, CEO of PacRoots, comments, "This acquisition marks a major milestone for the company with a move into the U.S. cannabis market, predominantly in California, with the Grasstown brand. The team at Lords of Grasstown have done a remarkable job branding, designing, launching and marketing Grasstown in BC and California."

The initial launch of Grasstown USA into California has been well received thanks to Lords of Grasstown’s strategic connections in the motorcycle and legal cannabis communities.

In consideration of the share purchase agreement with Grasstown, the total purchase price will include a cash payment of C$50,000, payable within 30 days of closing the transaction, and the issuance of an aggregate of 6,000,000 common PacRoots shares within five business days of closing the transaction. 

PacRoots is focused on elite cannabis genetic development. It maximizes the quality of its products by keeping yields and profit margins high.

PacRoots (PACR) is up 2.17 per cent and is currently trading at C$0.235 per share as of 12:17 pm EST.

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