- Share purchase agreement will result in Pac Roots acquiring all issued, outstanding shares of Grasstown
- “The Grasstown culture complements PacRoots’ foundation of variety and quality built on the West Coast,” says PACR CEO
- Pac Roots intends to continue — and strengthen — the strong reputation built by the Grasstown brand
Cannabis and motorcycles make an intriguing combination — a combo that Lords of Grasstown Holdings Ltd. has created a whole business around. And now Pac Roots Cannabis (CSE: PACR) (OTCQB: PACRF) is getting in on the action. The Company recently announced the execution of a share purchase agreement with the shareholders of Lords of Grasstown that will result in Pac Roots acquiring all the issued and outstanding shares of Grasstown (https://ibn.fm/PiCMh).
“PacRoots is thrilled to partner with such an incredible brand and story driven by artists with a passionate vision that resonates throughout a massive community,” said PacRoots’ president and CEO Patrick Elliott. “The creators, designers and marketers behind Lords of Grasstown have a truly unique and talented offering that will be invaluable to the PacRoots organization. The Grasstown culture complements PacRoots’ foundation of variety and quality built on the West Coast. This platform brings a tremendous following that embraces these attributes, which are well positioned to excel in BC and California’s West coast marketplaces.”
Founded in 2011 and incorporated in 2013, Lords of Gastown is a lifestyle motorcycle brand that first started in the Pacific Northwest. The company filled a gap in the Harley-Davidson street wear and apparel offerings space and quickly landed on Brian Barnes of Barnes Harley-Davidson Canada. Today the company has built partnerships and collaboration with some of America’s oldest and strongest motorcycle brands and has established more than 80 wholesale accounts across North America as well as in Switzerland, Mexico, Australia, Indonesia and Japan.
The company’s cannabis connection comes through founder and director Tyler Hazelwood, who has struggled with Crohn’s disease for more than two decades. “Without cannabis I would not be able to be a dedicated single father to my daughter, nor would I have been able to build these brands or ride my motorcycle across North America,” said Hazelwood. “Cannabis is without a doubt my biggest tool in managing Crohn’s symptoms. I feel a sense of obligation to share my experiences and passion in hopes I can help others with IBD.”
Following the success of Lords of Gastown Motorcycle Lifestyle brand, the company launched its Lords of Grasstown Cannabis Culture brand in 2013. The brand offers simple, clean, yet edgy street wear apparel and products, including a CBD soap line. In 2015, Grasstown partnered with BC Cannabis Genetics Guru JB to add some of Canada’s highest testing medical cannabis strains to the line. Through the share purchase agreement, Pac Roots intends to continue — and strengthen — the strong reputation built by the Grasstown brand.
Pac Roots began operations in 2012, with activities primarily directed toward exploration and development of mineral properties in Canada. Today, the Company is focused on cannabis and hemp cultivation, leveraging high-end genetics and specialized cultivars to produce top-quality products.
For more information, visit the company’s website at www.PacRoots.ca.
NOTE TO INVESTORS: The latest news and updates relating to PACR are available in the company’s newsroom at http://ibn.fm/PACR
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