Pac Roots (CSE: PACR) (“PacRoots”), a Canadian cannabis company dedicated to producing premium-quality strains and products by leveraging a genetics-focused approach, today announced the closing of a share purchase agreement with 1088070 BC. LTD., a company existing under the laws of Canada (“1088”) and Dave Jonkman and Norm Tapp (together, the “1088 Shareholders” and each, a “1088 Shareholder”). Under the agreement, PacRoots has acquired all of the issued and outstanding shares of 1088, which owns and controls nine parcels comprised of 250 acres of prestigious land in the Fraser Valley Region of British Columbia. “The addition of such a substantial package of land to our portfolio is a major step for PacRoots. We are pleased to have the opportunity to add significant acreage with an acquisitional cost base of $9,600 per acre,” PacRoots president and CEO Patrick Elliott said in the news release. “This land has no zoning restrictions and is not situated within the Agricultural land reserve, which provides for infinite development possibilities.”
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About Pac Roots Cannabis Corp.
Pac Roots is focused on delivering the finest genetics to Canadians. Preserving the excellence of its elite strains while introducing the highest quality of new strains to the public is the company’s passion. Genetic variation and stability form the foundation that drives the decision making for Pac Roots Cannabis Corp.’s business. For more information about the company, visit www.PacRoots.ca.
NOTE TO INVESTORS: The latest news and updates relating to PACR are available in the company’s newsroom at http://cnw.fm/PACR
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