Tag: PACR.CN

420 with CNW – New Jersey Residents to Vote on Marijuana Legalization During November Poll

The coronavirus pandemic and the coming presidential election have eclipsed New Jersey’s ballot for this year, its highest profile one in 2020. Despite this though, New Jersey may be the latest state to legalize recreational cannabis, that is, if the constitutional amendment gets a yes majority from the voters.

In the first-ever vote-by-mail election in New Jersey, ballots are set to be sent to registered voters in the state soon.

Apart from voting for president as well as the U.S. Senate and House, the people of New Jersey will also be tasked with deciding whether to amend the state constitution in order to permit individuals who are 21 and older to use cannabis. This amendment will also allow for the state to establish a regulated market for cannabis.

If the ballot is passed, New Jersey would be the 12th state, together with the District of Columbia, to legalize recreational cannabis.

A poll that was recently conducted showed that supporters are optimistic, given that more than three fifths of the voters voiced their support for recreational cannabis legalization. There are, however, a few opponents who are convinced that they can still persuade the voters against voting for the legalization. Both the opposition and supporter side have launched campaigns.

In support, NJ Can 2020, a social welfare group is planning on running digital ads to support the ballot. The group is made up of organizations such as the Latino Action Network, the ACLU of New Jersey, Drug Policy Action as well as the New Jersey CannaBusiness Association, among many others.

The group supports this measure, stating that the legalization of recreational cannabis will help boost the state’s economy by creating employment opportunities and raising tax revenue. Additionally, its legalization will right a social injustice in terms of the disparities in possession arrests, with black residents more likely to face incarceration almost 3 times more in comparison to their white counterparts.

This isn’t the first time New Jersey has tried to pass this legislation. The motion was first introduced last year but failed to get enough support from lawmakers. So instead, in December of 2019, the legislature voted to give the choice to voters this year.

If the amendment is approved, the state commission that will be overseeing the medical cannabis program will also be in charge of establishing the recreational-use market. In addition to the age-restriction, marijuana will also be subject to the state’s sales tax of 6.625%.

However, it remains unclear how soon cannabis will reach the market after the legislation is passed. Experts say the entire marijuana industry, including Pac Roots Cannabis Corp. (CSE: PACR), will be waiting with bated breath to see what decision the voters will make in November.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW – 4 Marijuana Harvesting Tips for Outdoor Growers

The harvest season is the most taxing as well as the most thrilling time of the outdoor plant growth cycle. This season can either make or break an entire year’s operation. To ensure your harvest is snag-free and also successful, here are some of the key things you should make sure are ticked off your ‘before-harvest’ checklist.

  1. Ensure that your drying area has been prepared and is ready for use

It is important to sanitize and clean the drying area to be used. This will help prevent post-harvest contamination as well as ensure that your processing operation runs smoothly. Additionally, humidifiers and fans to be used should be cleaned and also checked out to make sure they are operating at optimal levels. If you do not have enough fans/humidifiers, then I suggest you purchase more. Using a humidity monitor in the drying area would help as well in ensuring that the rooms’ relative humidity remains at about 50%. This will be helpful in the first days after harvest.

  1. Choose the method of harvest, how the buds will be dried and separated from the plants and determine the amount of space that will be needed

Many farmers usually make the mistake of underestimating the size of the space they’ll need for drying their marijuana. This affects the drying time, which usually compromises the quality of the finished product as well.

Here are a few options to choose from:

  • Harvest and break down the plants into individual branches then hang them up.
  • Remove the buds when they’re wet then dry the flowers on screens.
  • Alternatively, one can harvest then hang the whole plants up to dry and handle the sorting at a later time.

This will also help prevent post-harvest contamination.

  1. Search the plants for botrytis(fungus) and other fungal issues regularly

As the harvest season nears, the weather may get cooler and, or, wetter. This is dependent on your location. Infected buds that are still on the plants need to be removed every day or else the fungus will spread rapidly.

Even after harvest, you should continue checking the drying buds/plants because mold can grow in the drying area, which may destroy your harvest.

  1. Observe the weather and prepare for an early harvest because of non-stop rains or temperatures below 25ºF

Freezing cold weather will destroy your crop. So, it would be better to harvest early than lose everything. Crops that have been harvested early can make concentrates of high quality. The only downside of this is that you’ll earn less. However, you should not panic and start harvesting if it happens to rain a little or if the temperature remains between 26º to 28º F in the night. The plants can withstand that, it’s freezing weather and ongoing rains that are the problem.

Additionally, you should hire enough employees to help harvest and process the plants, especially if you decide to screen dry the plants and remove the leaves before the drying process begins.

Established companies like Pac Roots Cannabis Corp. (CSE: PACR) have probably fine-tuned their harvesting systems to a science, and startups would do well to devote as much attention to this phase of cannabis cultivation.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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CannabisNewsAudio – Pac Roots Cannabis Corp. (CSE: PACR) Employs Cutting-Edge Genetics to Deliver Premium Products

CannabisNewsWire Editorial Coverage: As the cannabis industry matures and is again heating up — a recent eye-popping report by Data Bridge Market Research projects that the global legal marijuana market will explode to more than $90 billion by 2027. Companies operating in the sector are looking to capitalize on opportunities the multibillion-dollar space offers. Recognizing the often submarginal quality of available product as well as high cost of development and land acquisition, Pac Roots Cannabis Corp. (CSE: PACR) (PACR Profile) utilizes state-of-the-art genetics to ensure premium-quality products. Using science and key strategic partnerships, Pac Roots intends to eliminate the quality and cost barriers to success and carve what could be profitable niche in a booming market. Canopy Growth Corporation (NYSE: CGC) continues expansion of its Canadian operations while Cronos Group Inc. (NASDAQ: CRON) has officially entered the Israeli medical cannabis market with the sale of its dried flower products. Aphria Inc. (NASDAQ: APHA) has also entered the Israeli market with its recently announced supply agreement with Canndoc, and Organigram Holdings Inc. (NASDAQ: OGI) has launched Trailblazer Snax, the largest cannabis-infused chocolate bar in Canada.

To hear the AudioPressRelease, visit http://cnw.fm/XHwyi

To view the full editorial, visit http://cnw.fm/dfp4F

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. The foundation, based on genetic variation and stability, 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

About CannabisNewsAudio

CannabisNewsAudio, a service of CannabisNewsWire (CNW), allows you to sit back and listen to market updates, interviews and company press releases. CannabisNewsAudio keeps you informed on publicly traded companies we’re watching. The audio clips provide snapshots of position, opportunity and momentum. CannabisNewsAudio is a complimentary service of CannabisNewsWire.

For more information, visit www.CannabisNewsAudio.com.

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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420 with CNW – Federal Report Reveals Few Banks Worked with Cannabis Businesses Amidst the Pandemic

The latest data from the federal government shows that in the last fiscal quarter, few financial institutions are servicing firms in the cannabis industry. In fact, the number is said to have declined.

Last week, a report released by the Financial Crimes Enforcement Network showed that 695 credit unions and banks were working with legal marijuana businesses at June’s end. However, in the previous quarter, the number was 710, showing a clear decline.

What then, is behind the apparent decline?

COVID-19 is one of the culprits. The coronavirus pandemic has affected many economies globally, with most businesses either going bankrupt or closing down. It is no wonder that some cannabis firms may have closed down as well during this period, given that most government restrictions require only essential businesses and services to be in operation during the pandemic period.

However, most states which have legalized cannabis are allowing marijuana firms to operate as essential services during this pandemic period, with states such as Illinois recording growth in cannabis sales in the past few months.

Another possible reason for the decrease in support from financial institutions could be banks being understaffed. Understaffing causes delays in filing suspicious activity reports (“SAR”) for cannabis businesses. All credit unions and banks that provide financial services to cannabis businesses are required, by law, to file and submit suspicious activity reports.

Filers that exceed the 90-day SAR filing requirement may explain the short-term decline in the number of financial institutions that are offering services to marijuana businesses. This is because, after the 90-day period has elapsed, the depository institution is deemed to not be providing financial services.

The decline might also be a result of Congress calling for cannabis law reform.

On a lighter note though, the Marijuana Opportunity, Reinvestment and Expungement (“MORE”) Act is scheduled to be introduced to the floor later in September. It seeks to remove cannabis from the Controlled Substances Act, which would resolve any uncertainty revolving around financial institutions working with cannabis businesses in the banking sector.

This would open up more avenues for financial institutions to provide services to marijuana firms in the future.

Furthermore, earlier in June, the National Credit Union Administration released a memo that explained the issues that are identified with banking institutions offering their services to cannabis businesses and explained that offering services is legal, as marijuana has been legalized in most states.

It would be interesting to get the perspective of industry players like Pac Roots Cannabis Corp. (CSE: PACR) regarding what could be behind the reduced collaboration between banks and cannabis companies.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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Savvy Companies Eye Promising Potential in Multi-Billion-Dollar Industry

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).

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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420 with CNW – Survey Finds 81% Support for Marijuana Legalization in Mississippi

As the November 3 ballot approaches, drug reform advocates in Mississippi will be happy to know that a majority of the state’s potential voters support the legalization of medical marijuana. After conducting telephone surveys with 600 Mississippians likely to vote in the November 2020 general election, California-based research company FM3 Research found out that 81% of them supported medical marijuana.

“In principle, four in five (81%) Mississippi voters support doctors being able to recommend medical marijuana to patients with medical conditions and serious illnesses, and more than two thirds (68%) do so strongly,” writes the firm in a key findings memo. The state has two legalization measures on the ballot, Initiative 65, which was placed on the ballot with the signatures of 228,000 Mississippians, and Alternative 65A which was placed on the ballot by the state legislature.

According to FM3 Research, Mississippians strongly favor permitting access to medical marijuana through Initiative 65, with 52% of the respondents supporting Initiative 65 and 23% supporting Alternative 65A. Ballotpedia states that “Initiative 65 supports approving the medical marijuana amendment as provided by Initiative 65, which would allow medical marijuana treatment for more than 20 specified qualifying conditions, allow individuals to possess up to 2.5 ounces of marijuana at one time and tax marijuana sales on the current state sales tax of 7%.”

On the other hand, “Alternative 65A supports approving the legislature’s alternative medical marijuana amendment, which would restrict smoking marijuana to terminally ill patients; require pharmaceutical-grade marijuana products and treatment oversight by licensed physicians, nurses, and pharmacies, and leave tax rates, possession limits, and certain other details to be set by the legislature.”

“Without Initiative 65, people are having to use pharmaceutical drugs to treat their pain and suffering. Are narcotics better? I don’t think so. This would be a whole lot better because there’s no side effects and there’s no addiction,” says Barbara Allen, a member of Medical Marijuana 2020’s steering committee. Medical Marijuana 2020 is behind the push for legalization, and the organization says that ignoring the harmful side effects of currently prescribed and legal medications cannot continue.

However, not everyone is happy about it. Jackson County Sherriff Mike Ezell says that it will create more work for law enforcement. “The sheriff’s office now answers between 26 and 2,800 calls a month. You add marijuana to this mix and, you know the teenagers and young adults, they’re gonna get it. It’s just like we talked about earlier with the brownies and the gummies and all the things they bring back from Colorado. We’ve made a number of arrests since I’ve been in office.”

“In summary, Initiative 65 stands a strong chance of passage in November 2020 in Mississippi. There is substantial support for medical marijuana in principle, and voters clearly distinguish between Initiative 65 and Alternative 65A,” the study concluded.

Industry watchers say entities like Pac Roots Cannabis Corp. (CSE: PACR) hope that the voters get accurate information about the two initiatives and vote based on concrete data in November.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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Cannabis Companies Committed to Quality Carve Niche in Multi-Billion-Dollar Industry

CannabisNewsWire Editorial Coverage: As the cannabis industry matures and is again heating up — a recent eye-popping report by Data Bridge Market Research projects that the global legal marijuana market will explode to more than $90 billion by 2027. Companies operating in the sector are looking to capitalize on opportunities the multibillion-dollar space offers. Recognizing the often submarginal quality of available product as well as high cost of development and land acquisition, Pac Roots Cannabis Corp. (CSE: PACR) (PACR Profile) utilizes state-of-the-art genetics to ensure premium-quality products. Using science and key strategic partnerships, Pac Roots intends to eliminate the quality and cost barriers to success and carve what could be profitable niche in a booming market. Canopy Growth Corporation (NYSE: CGC) continues expansion of its Canadian operations while Cronos Group Inc. (NASDAQ: CRON) has officially entered the Israeli medical cannabis market with the sale of its dried flower products. Aphria Inc. (NASDAQ: APHA) has also entered the Israeli market with its recently announced supply agreement with Canndoc, and Organigram Holdings Inc. (NASDAQ: OGI) has launched Trailblazer Snax, the largest cannabis-infused chocolate bar in Canada.

  • Pac Roots has unlimited access to one of Canada’s largest live, genetic cannabis library with more than 350 lab-tested, field-tested cultivars.
  • High-quality flowers are essential to the process of producing high-quality cannabis products.
  • PACR focuses its cultivation operations on the best outdoor growing climates in Canada.

Click here to view the custom infographic of the Pac Roots Cannabis Corp. (CSE: PACR) editorial.

The Quest for Quality

Common sense dictates that high-quality flowers are essential to the process of producing high-quality cannabis products. Yet as demand for these products has spiked and more companies have entered the burgeoning space, cannabis genetics may actually be slipping as competitors scramble for market share.

Pac Roots Cannabis Corp. (CSE: PACR) is dedicated to delivering the finest cannabis genetics to its consumers, preserving the excellence of its carefully cultivated elite strains while also working to introduce superior new strains. While some companies may strive to be the largest cannabis grower, Pac Roots believes that the quality of the product is paramount. With demand for premium products at an all-time high, Pac Roots appears to be ideally positioned as a leader in the premium-cannabis space.

The company achieves this commitment to excellence 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 lab and field-tested, selectively bred cultivars. Pac Roots utilizes the cultivars in the Phenome library to grow, breed and clone its own unique brands. Through careful 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 elite strains with multiple beneficial characteristics. The impressive  catalog consists of more than 350 tested cultivars; approximately 50 are in the super-elite category. The goal for the partnership is to offer the highest-quality cultivars that have been proven and stress tested under variable commercial conditions to provide the utmost 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.

Optimized Farming Systems

Superior genetics isn’t the only key to cultivating quality cannabis. Optimized farming systems are essential in the quest for quality product. Pac Roots works closely with carefully selected partners to optimize cultivation through unique, proprietary methods, including the following essential aspects:

  • 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 following a tested and refined cultivation process, the company carefully chooses its cultivation sites, focuses its operations on the best outdoor growing climates in Canada, including the South Okanagan Valley and the Fraser Valley Regional District.

Cultivation on the Golden Mile

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 site 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 mid-June; approximately 130,000 premium-hemp CBD seedlings, which had been sown a month earlier in greenhouses to ensure optimal growth and minimize environmental impact, were systematically planted across two 50-acre parcels. With harvesting expected to begin in October, the hemp plantation crop is forecast 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.”

Pristine Property in Fraser Valley

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 high-quality soil, favorable climate, water and a local market of 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 high-quality cannabis products only expected to increase as large-scale growers appear unable to deliver a premium-grade flower, Pac Roots appears to have firmly established its commitment to offering the finest 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

Unique in its approach and commitment to quality, Pac Roots isn’t the only company vying for market share in the flourishing cannabis sector.

Canopy Growth Corporation (NYSE: CGC) expanded operations into Alberta, opening 10 retail stores under the Tokyo Smoke and Tweed brands. This announcement marks CGC’s commitment to national retail expansion and added consumer engagement opportunities across Canada. Canopy’s retail expansion into Alberta brings the number of Tokyo Smoke and Tweed retail cannabis stores in Western Canada — Manitoba and Saskatchewan — to 29, while increasing  Canopy’s retail banners across the entire country to a total of 50. More are planned in the coming months.

Cronos Group Inc. (NASDAQ: CRON) is expanding as well. The company officially entered the Israeli medical cannabis market with the sale of Peace Naturals-branded, dried-flower products to medical patients. “In the second quarter of 2020, we continued our progress despite unprecedented shifts in our industry and the global economy,” said Cronos Group CEO Mike Gorenstein. “During these extraordinary times, it is very encouraging to see that we are making progress against our strategy across our global footprint,” said Mike Gorenstein, CEO of Cronos Group.

With the announcement of its supply agreement with Canndoc, one of Israel’s largest and most established medical cannabis producers, Aphria Inc. (NASDAQ: APHA) is now positioned within two of the largest cannabis markets outside of Canada. Under the terms of the agreement, Aphria will supply Canndoc with dried bulk flower over a two-year period, with options to extend for additional terms if the parties agree to terms. The strategic partnership will also include the possibility of Aphria and Canndoc collaborating on research initiatives such as clinical trials focused on the use of medical cannabis with leading hospitals and research institutions in Israel and exploring potential collaboration in the EU market.

Organigram Holdings Inc. (NASDAQ: OGI) is pursuing the end-consumer market with the recent release of its Trailblazer Snax, the largest cannabis-infused chocolate bar in Canada. The company’s most recent cannabis 2.0 product, Trailblazer Snax was developed to satisfy discerning chocolate connoisseurs while remaining an affordable cannabis-infused option. Available in both mint and mocha flavors, the 42-gram bar provides 10mg of THC is competitively priced and is divided into five sections, allowing consumers to share as well as control dosage.

In an industry projected to top $90-billion in just a few years, the moves by companies operating in the cannabis space speak to the industry’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)

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

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420 with CNW – Cannabis Sales in Oregon Soaring Amidst the Pandemic

In July, Oregon achieved the highest cannabis sales ever, showing just how well the marijuana industry is thriving, despite the coronavirus pandemic.

The State of Oregon recorded approximately $106 million in recreational and medical marijuana sales. According to a report by the Oregon Liquor Control Commission that was released recently, this is the third month in a row that the state has made cannabis sales of over $100 million.

OLCC broke down the marijuana sales statistics based on the different types of cannabis products that had been sold and discovered that marijuana bud purchases had significantly grown during the coronavirus outbreak. In the month of February, bud sales accounted for roughly $40 million while in July, that rose to about $65 million.

The report states that recreational consumers as well as medical cannabis patients have been consuming more cannabis since February this year, although the data also shows that the adult-use market has been especially active as well.

Beau Kilmer, the director of the RAND Drug Policy Research Center hypothesized that the reason for the sharp increase came about as a result of individuals stocking up during the COVID-19 crisis.

Additionally, the Portland City Council has sanctioned an amendment to a budget that was proposed in June that would deprive cannabis-generated monies from the Portland Police Bureau.

It seems Oregon isn’t the only state that is experiencing record-breaking cannabis sales during this pandemic period. In Illinois, state officials have reported a significant rise in purchases month-over-month. For the month of July, adult-use marijuana sales were about $61 million which surpassed June’s record sales of $47 million.

In a recent interview, Governor J.B. Pritzker’s leading cannabis advisor referred to the cannabis industry as both pandemic and recession proof.

Amid the pandemic, many legislators have argued that the legalization of cannabis could be a possible solution to neutralize the losses experienced in various parts of the country on account of the COVID-19 outbreak.

Just last week, the governor of Pennsylvania, Thomas Wolf (D) urged lawmakers to legalize marijuana to help the state’s economy recover financially from the pandemic’s impact while Michelle Lujan Grisham (D), the Governor of New Mexico, stated in May that the state would look into every alternative that would offer economic relief, including legalizing marijuana.

Over in New Jersey, Governor Phil Murphy stated in July that legalizing marijuana could assist in economic recovery of the state while advocating for racial justice as well. Analysts say these economic benefits are the same ones that sector players like Pac Roots Cannabis Corp. (CSE: PACR) have always mentioned as huge benefits of a regulated cannabis market.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

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CannabisNewsBreaks – Pac Roots Cannabis Corp. (CSE: PACR) Announces Closing of First Tranche of Private Placement

Pac Roots (CSE: PACR), a Canadian cannabis company dedicated to producing premium-quality strains and products by leveraging a genetics-focused approach, today confirmed the closing of the first tranche of its previously announced non-brokered private placement. According to the update, aggregate gross proceeds of C$470,750.00 were raised in the first tranche through the issuance of 1,883,000 units. Each unit consists of one share and one warrant, exercisable at C$0.40 per share for 24 months from issuance. Pac Roots intends to close additional tranches of the private placement over the coming weeks that will, in aggregate with the first tranche, raise gross proceeds of up to $2,000,000.00. The company intends to use net proceeds for operating expenditures of the Hemp JV in Rock Creek, BC, final commissioning of the Lake Country project and for general working capital.

To view the full press release, visit http://cnw.fm/GAjAi

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

About CanadianCannabisWire

CanadianCannabisWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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420 with CNW – House Leadership Confirms Upcoming Vote on Marijuana Legalization

Congressional leadership announced formally on Friday that the House would vote on a cannabis legalization bill in September.

James Enos Clyburn, the Majority Whip (D-SC) confirmed in a mass email to members that the chamber is expected to debate the MORE Act (Marijuana Opportunity, Reinvestment and Expungement) in the September period. This is despite the floor vote having not yet been scheduled.

The bill was first introduced by Jerrold Nadler, Judiciary Committee Chairman (D-NY) last year after which it cleared the committee and was pushed forward to other committees. However, it is not yet known if the committees in question will relinquish jurisdiction or markup the proposed bill for it to get a majority vote.

The Marijuana Opportunity, Reinvestment and Expungement Act would suspend marijuana’s illegality, annul records of individuals who had been convicted for cannabis and levy a 5% governmental tax on its sales. The revenue collected would be used to revive communities that have been the most affected by the ongoing drug war.

The Act would in addition make way for the resentencing of those who had been imprisoned for cannabis crimes, and prohibit government agencies from refusing security clearances or public benefits to individuals because of using cannabis.

Additionally, the act would offer protection for immigrants who may be denied citizenship over marijuana.

In the email, the Majority Whip requests the lawmakers to brief him by Monday if they plan on supporting the bill on the floor.

Rep. Earl Blumenauer (D-OR), who is a chief advocate for marijuana reform in Congress, recently stated in an interview that the marijuana legalization bill was a chance to stop the prohibition policy that had reigned for a lengthy period of time, over which selective enforcement was practiced against many BIPOC’s, mostly black men.

He also added that there was a significant urgency to this bill, given the protests of racial injustice throughout the country. He explained that Congress seizing the opportunity to align marijuana laws with the wants of the majority of the Americans would be historic, thus assuring that restorative justice was implemented.

Earlier this month, House leadership received a letter from major civil rights and drug policy organizations such as the NAACP, American Civil Liberties Union, Drug Policy Alliance (“DPA”) and the Human Rights Watch. The letter demanded a floor vote before the end of September on the MORE Act.

Policy manager for DPA, Queen Adesuyi also added that the advancement of this bill met this political moment’s principles, adding that the House Democrats now had the opportunity to pass a bill that enjoyed bipartisan support while also responding to calls for racial justice and justice reform resounding in the country.

Marijuana industry actors like Pac Roots Cannabis Corp. (CSE: PACR) are likely to follow the House proceedings keenly since history may be in the making with regard to marijuana policy.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

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