Pac Roots Cannabis (CSE: PACR) (OTCQB: PACRF), a company dedicated to producing premium-quality strains and products by leveraging a genetics-focused approach, has announced a non-brokered private placement of up to 8,333,333 units. According to the announcement, each unit, which will consist of one common share in the capital of the company and one common share purchase warrant, will be offered at C$0.18 per unit, for gross proceeds of up to $1,500,000. The common share purchase warrants permit the warrant holder to obtain an additional common share at a price of $0.30; that offer will be valid for three years from the closing of the offering. The company anticipates using the proceeds from the public offering for working capital and general corporate purposes. Pac Roots noted that it could close the offering, which is expected on or about Feb. 12, 2021, in one or more tranches. The official closing of the offering is subject to regulatory approval, including approval from the Canadian Securities Exchange.
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About Pac Roots Cannabis Corp.
Pac Roots 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. Pac Roots subsidizes costs with several strategic partners, including Phenome One, one of the largest live genetic libraries in Canada composed of more than 350+ live cultivars as well as its JV partnership with Rock Creek Farms and Speakeasy Cannabis Club, leveraging 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 about the company, visit www.PacRoots.ca.
NOTE TO INVESTORS: The latest news and updates relating to Pac Roots are available in the company’s newsroom at http://nnw.fm/PACR
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