CannabisNewsWire
Editorial Coverage: A recent Data Bridge Market
Research report notes that the once-hot cannabis industry looks
to be heating up again — in a big way. The report includes
predictions that the global legal marijuana market will total more
than $90 billion by 2027. Smart companies are jostling for a strong
position in this explosive space, looking to leverage their
expertise to capitalize on opportunities the multi-billion-dollar
sector provides. Recognizing key challenges in the industry,
including availability of often subpar quality of available product
along with the high cost of development and land acquisition,
Pac Roots Cannabis Corp. (CSE: PACR) (PACR
Profile) is focusing on its
state-of-the-art genetics to ensure production of premium-quality
products. In addition, the company is relying on science and key
strategic partnerships to eliminate quality and cost barriers to
success. Cresco Labs
Inc. (CSE: CL) (OTCQX: CRLBF) has received
regulatory approval for its acquisition of one of 10 vertically
integrated licenses in New York while Tilray
Inc. (NASDAQ: TLRY) has received
complete GMP certification at its EU campus. Aurora Cannabis
Inc. (NYSE: ACB) (TSX: ACB) has
almost completed the first phase of a business transformation
focused on setting up the company for success in this burgeoning
space. And in the medical-use sector, Arena
Pharmaceuticals Inc. (NASDAQ: ARNA)
is pursuing a significant unmet opportunity for a targeted IBS pain
treatment using olorinab, a peripherally acting, highly selective,
full agonist of the cannabinoid receptor 2 (CB2).
- Absolute access to one of Canada's largest live, genetic
cannabis library provides PACR with more than 350 lab-tested,
field-tested cultivars.
- Superior flowers are key to producing superior cannabis
products.
- Pac Roots chooses best outdoor growing climates in Canada for
its growing cultivation operations.
Click here to view the
custom infographic of the Pac Roots Cannabis Corp. (CSE:
PACR) editorial.
Delivering the Best
While it may seem obvious, the availability of high-quality
flowers is essential to the process of producing high-quality
cannabis products. Yet as demand for cannabis products has
increased and more companies have entered the flourishing space,
the quality of raw cannabis product may actually be slipping as
companies focus more on market share than quality.
Pac Roots
Cannabis Corp. (CSE: PACR) is committed to delivering the
finest cannabis genetics to its customers, preserving the
superiority of its carefully cultivated elite strains while also
working to introduce unmatched new strains. While some companies
may work to be the largest cannabis grower, Pac Roots believes that
product quality is paramount. With demand for premium products at
an all-time high, Pac Roots is dedicated to becoming a leader in
the premium-cannabis space.
The company achieves this objective in part through its strategic licensing agreement with Phenome One Corp,
which gives Pac Roots complete access to one of Canada's largest
live, genetic cannabis library with both field- and lab-tested,
selectively bred cultivars. Pac Roots utilizes the cultivars in the
Phenome One library to grow, breed and clone its own distinctive
brands. Through vigilant breeding and cultivation, Pac Roots offers
everything from CBD-dominant plants with rare terpene profiles and
soaring 30%-plus THC giants to West Coast outdoor,
botrytis-resistant plants.
Pac Roots and Phenome One are developing exclusive strains with
several beneficial characteristics. The impressive catalog consists
of more than 350 tested cultivars; approximately 50 are in the
super-elite category. The aim for the partnership is to offer the
highest-quality cultivars that have been proven and tested under
variable commercial conditions to provide the greatest resilience.
The two companies share a dedication to delivering rich THC and CBD
cultivars with unique terpene profiles while continuing to attain
industry-leading GPW yield.
Key to Quality Cannabis
Superior genetics isn’t the only key to cultivating quality
cannabis. Optimized farming systems are crucial in the pursuit of
quality product. Pac Roots works closely with carefully selected
partners to improve cultivation through proprietary methods,
including the following fundamental components:
- Nutrients are custom formulated from raw salts for specific
cultivars.
- Systematic planting of young, hardy cultivars, measuring up to
18 inches, which provides maximum opportunity for growth and
resilience.
- Row compaction and mowing for weed control, enabling a selected
harvest
- Complex irrigation systems with direct-nutrient and
spring-water delivery to each plant site.
In addition to observing tested and refined cultivation methods,
Pac Roots carefully selected its cultivation sites, focuses its
operations on the finest outdoor growing climates in Canada,
including the South Okanagan Valley and the Fraser Valley Regional
District.
Golden Mile Cultivation
Known as the Golden Mile and now referred to as the Napa Valley
of the North, the South Okanagan Valley in British Columbia is the
location of Rock Creek Farms, a 100-acre, premium-hemp, joint
venture that Pac Roots started in May 2020 after receiving its hemp
cultivation license from Health Canada.
Planting began in June when approximately 130,000 premium-hemp
CBD seedlings, which had been sown earlier in greenhouses to ensure
optimum growth and reduce environmental impact, were systematically
planted across two 50-acre parcels. With harvesting projected to
begin in October, the hemp plantation crop is expected to be
between 500,000 and 700,00 pounds of biomass; 100% of that yield is
already under contract with a processor at fair market value.
“It has been a busy for months since listing on the CSE in early
May 2020,” said Pac Roots CEO
Patrick Elliott. “We are proud to have a healthy crop and
remain bullish on delivering a premium, high-yielding product to
our customer. In early 2020, we had a goal of becoming a revenue
generator in 2020 as market appetite was evolving towards a cash
flow scenario and realizing on projected forecasts as paramount to
survival in this industry. We are privileged to be involved
with our strategic partners at Rock Creeks Farms, Phenome One and
Speakeasy Cannabis Club as a production scenario in our first year
of operation would not have been possible without the generous
leasing of land, equipment, licenses, infrastructure, genetics,
operations team, management and expertise to round off the joint
venture.”
Fraser Valley Production
In addition, the company is slated to soon complete a share purchase agreement of 250 acres of prestigious
land in the Fraser Valley Regional District (FVRD) of British
Columbia. The agreement, made with 1088070 BC. Ltd. outlines
Pac Roots’ plans to acquire all of the issued and outstanding
shares of 1088, which owned nine parcels of pristine property in
FVRD, one of the most productive and intensively farmed areas in
Canada. The area offers the finest soil, a favorable climate, ample
water and a local market of an estimated 2.5 million people.
Agriculture in this region yields an annual economic value of more
than $3 billion.
“The addition of such a substantial package of land to our
portfolio is a major step for Pac Roots,” said Elliott. “We are
pleased to have the opportunity to add significant acreage with an
acquisitional cost base of $9,600 per acre. This land has no zoning
restrictions and is not situated within the Agricultural land
reserve, which provides for infinite development
possibilities.”
The acquisition of the 250 FVRD acres combined with the 100-acre
hemp joint venture in Rock Creek, along with the company’s plans
for an indoor cultivation facility in Lake Country, British
Columbia, demonstrates a long pipeline of development projects for
Pac Roots. Through these recent achievements, the growing company
is confirming its ability to optimize cultivation with seasoned
expertise. Its commitment to maximizing yield while lowering
production costs seems evident throughout Pac Roots’ strategic
growth plan.
With demand for superior cannabis products only expected to
increase as large-scale growers appear incapable of delivering a
premium-grade flower, Pac Roots looks to have firmly established
its focus on offering the best crops available and developing the
future of genetics. “Preserving the excellence of our elite strains
while introducing the highest quality of new strains to the public
is our passion,” the company’s website declares, and its recent
activity in the cannabis market looks to support that mission.
Becoming Cannabis Players
While Pac Roots is distinctive in its approach and commitment to
quality, it isn’t the only company vying for market share in the
flourishing cannabis sector.
Cresco Labs
Inc. (CSE: CL) (OTCQX: CRLBF) announced that it has
received regulatory
approval for its acquisition of 100% of the membership
interests of Gloucester Street Capital, the parent entity of Valley
Agriceuticals LLC, via a merger between Gloucester and an indirect
subsidiary of Cresco Labs. Valley Agriceuticals holds one of the 10
vertically integrated cannabis business licenses granted in the
State of New York by the New York State Department of Health. Each
license gives the operator the right to operate one cultivation
facility and four dispensaries in New York. The acquisition is
expected to close by the end of August.
Aurora Cannabis
Inc. (NYSE: ACB) (TSX: ACB) recently released an
update on its business operations, including
the announcement of a new CEO, Miguel Martin. "Over the last six
months, Aurora has focused on building the infrastructure and
capabilities necessary for a successful and diversified business,"
said Aurora executive chairman and interim CEO Michael Singer.
"The first phase of our business transformation, which is now
substantially complete, included the rationalization of our cost
structure, reduced capital spending, and a more prudent and
targeted approach to capital deployment. As a result, we now have a
far more efficient asset base and infrastructure to supply our key
global markets. I am delighted to now be transitioning the CEO
responsibilities to Miguel, and I am confident that Aurora is in a
strong position to succeed under Miguel's leadership."
Tilray
Inc.'s (NASDAQ: TLRY) wholly owned subsidiary Tilray
Portugal Unipessoal Lda. has received a Good
Manufacturing Practice (GMP) certification in accordance with
European Union standards, for its manufacturing facility in
Cantanhede, Portugal. The certification expands the company’s
international export capacity to serve authorized medical cannabis
markets and provides authorization to complete
medical cannabis extraction on-site as well as produce bulk
extracts for the manufacture of medical cannabis oil as a finished
product. The certification signals another milestone for
Tilray’s EU campus, which serves as the company’s
international medical cannabis hub.
Another player in the medical space is Arena
Pharmaceuticals Inc. (NASDAQ:
ARNA). The company has recognized a significant unmet
opportunity for a targeted IBS pain treatment
and is involved in a Phase 2, placebo-controlled, parallel-group
study to evaluate the safety, tolerability, and efficacy of
olorinab in patients with irritable bowel syndrome who are
experiencing abdominal pain.
In an industry anticipated to top $90 billion by 2027, strategic
steps taken by companies operating in the cannabis space appear to
reinforce the sector’s promising future. Companies that focus on
high-quality products through genetics while controlling costs
could reap outsized market rewards as the sector continues to
grow and mature.
For more information about Pac Roots, please visit Pac Roots
Cannabis Corp. (CSE: PACR).
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