DENVER, Sept. 9, 2020 /PRNewswire/ -- 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. (NYSE: 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. (NYSE: 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)
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