Pac Roots Cannabis Corp. (“PacRoots” or the “Company”) (CSE:PACR), announces that it will be conducting a non-brokered private placement of units (the “Units”) at a price of $0.25 per Unit for gross proceeds of up to $2,000,000 (the “Offering”), subject to the over-allotment option described below

The Placement is an offering of up to 8,000,000 units (the “Units”) at CDN$0.25 per Unit. Each Unit consists of one Share and one Warrant exercisable at CDN$0.40 per share for 24 months from issue of the Units. The Units to be issued under the financing will be subject to a four month hold period. The Company may close the Offering in one or more tranches.


A finder’s fee is payable on subscriptions by certain of the subscribers of 7% of the cash proceeds paid by such subscribers and warrants to purchase 7% of the number shares issuable to such subscribers in respect of their subscriptions for Units.

The net proceeds from the Offering are intended to be used for operating expenditures of the Hemp JV in Rock Creek, BC, final commissioning of the Lake Country project and for general working capital.

None of the securities acquired in the Equity Financing and the debt settlement will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.

ON BEHALF OF PAC ROOTS CANNABIS CORP.

(signed) “Patrick Elliott”
Chief Executive Officer

For further information, please contact:

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

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 Corporation’s ability to complete the Offering and proposed use of proceeds from the Offering 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 regulatory approval, 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.

SOURCE: Pac Roots Cannabis Corp.

View source version on accesswire.com:
https://www.accesswire.com/604075/PacRoots-Announces-Private-Placement

News Provided by ACCESSWIRE via QuoteMedia

Experienced executives fill senior roles in business development, M&A, clinic operations and design, and corporate communications

Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, today announced the appointments of five experienced leaders to support strategic growth initiatives across the Company’s three divisions Numinus Health, Numinus R&D and Numinus Bioscience.

Keep reading... Show less

Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA) (“Nextleaf”, “OILS”, or the “Company”), the world’s most innovative cannabis extractor, is pleased to announce its initial entry into branded consumer products, with the acquisition of all rights associated with the award-winning, prohibition-era brand, “Glacial Gold”, a previous category leader in speciality concentrates and extracts, with market validated formulations.

Keep reading... Show less

Mission Dispensaries to Host Live Stream Grow Seminar with Legendary Cannabis Geneticist
DJ Short on Saturday, May 16, 2021 from 4:20 p.m. to 6:00 p.m ET, Bringing World-Class Cultivation Tips to Detroit’s Legacy Cannabis Operators, Aspiring Entrepreneurs and
Those Adversely Impacted by the War on Drugs

Event to Raise Awareness and Funds for Homegrown Detroit’s Mission of Providing Critical Resources and Mentorship to Ensure Legacy Detroiters’ Success in the Emerging Marketplace

Keep reading... Show less

Green Thumb Industries Inc. (“Green Thumb”) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company, today announced the grand opening of COOKIES on the Strip (formerly Essence on the Strip), in Las Vegas on May 14. The company previously announced an exclusive partnership with COOKIES an international cannabis brand, making this the first COOKIES store in Nevada. The retail location will sell the acclaimed portfolio of Cookies, Lemonnade, Runtz, Minntz, Powerzzzup Genetics, Collins Ave, Run The Jewels and Grandiflora products in the brand’s signature blue retail environment.

Based in the Bay Area, COOKIES was founded by prolific rapper and entrepreneur Berner, along with his partner Jai, a highly respected cannabis cultivator and breeder. With the opening of COOKIES ’ first location in Nevada, on the iconic Strip, this adds to the growing international footprint of COOKIES locations. Berner will be onsite for the grand opening, along with Rick Ross, the official COOKIES bus and other appearances by special guests.

Keep reading... Show less

Achieved 13 th consecutive quarter of profitability; Announces definitive agreement to acquire Harvest Health & Recreation Inc., one of the largest US cannabis acquisitions to date which would establish our southwest hub and expand national footprint

Trulieve Cannabis Corp. (“Trulieve” or the “Company”) (CSE: TRUL) (OTCQX: TCNNF), a leading and top-performing cannabis company in the United States today announced its results for the quarter ended March 31, 2021 . The Company became a U.S. reporting company effective February 4, 2021 and the consolidated financial statements are reported in accordance with U.S. Generally Accepted Accounting Principles (GAAP). All currency is expressed in U.S. dollars.

Keep reading... Show less