<p>Through Lords of Grasstown’s strategic partnerships and alliances in the motorcycle and legal cannabis communities, the initial launch of Grasstown USA into California has been well accepted and recognized. PacRoots and Grasstown are excited to build on the initial momentum and expand the brand and offerings though the alliances and partnerships in the region.</p>
<p><img alt=”” class=”size-full wp-image-101623144 aligncenter lazy” data-src=”https://cdn.investingnews.com/app/uploads/2021/02/lords-of-grasstown-branding.jpg” data-srcset=”https://cdn.investingnews.com/app/uploads/2021/02/lords-of-grasstown-branding.jpg 497w, https://cdn.investingnews.com/app/uploads/2021/02/lords-of-grasstown-branding-250×250.jpg 250w, https://cdn.investingnews.com/app/uploads/2021/02/lords-of-grasstown-branding-150×150.jpg 150w, https://cdn.investingnews.com/app/uploads/2021/02/lords-of-grasstown-branding-24×24.jpg 24w, https://cdn.investingnews.com/app/uploads/2021/02/lords-of-grasstown-branding-48×48.jpg 48w, https://cdn.investingnews.com/app/uploads/2021/02/lords-of-grasstown-branding-96×96.jpg 96w, https://cdn.investingnews.com/app/uploads/2021/02/lords-of-grasstown-branding-300×300.jpg 300w” height=”497″ sizes=”(max-width: 497px) 100vw, 497px” src=”https://cdn.investingnews.com/app/uploads/2021/02/lords-of-grasstown-branding.jpg” srcset=”” width=”497″/></p>
<p>In consideration for the share purchase agreement with Grasstown, the total purchase price will be comprised of a cash payment of $50,000, payable within 30 days of the closing date for the Transaction and the issuance of an aggregate of 6,000,000 common shares of the Company within five business days of the closing date for the Transaction. The aggregate cash and share consideration will be distributed pro rata to the shareholders of Grasstown.</p>
<p>PacRoots is also pleased to announce that the Company has entered into consulting agreements with the talent behind Lords of Grasstown and Grasstown, USA: Tyler Hazelwood, creative director and marketing consultant, and Tom Pedricks, lead designer and brand consultant.</p>
<p><strong>About Tom Pedriks</strong></p>
<p>Pedriks Studios is based in Vancouver, British Columbia, Canada. Pedriks Studios have lent their creative thinking to some of the world’s most recognized brands, contributing to strategy, vision and design to develop multimedia branding communications. Pedriks Studios have crisscrossed the globe, helping to uncover and communicate stories for developers, hospitality providers, lifestyle brands, wine, spirits, and beer makers and marketers. They combine insights and emotions to make places—and the products that come from them—irresistibly liveable, ownable and desirable. In an ever-changing, always surprising world, we bring intelligence, experience, and sophisticated creativity to define and differentiate sense of place, articulate competitive advantage, and help brands thrive.</p>
<p>Tom has decades of experience in branding and design. He founded Haymaker Creative in Vancouver (2009- 2014) and co-founded Ryan & Deslauriers (1996) in Montreal, which grew to be one of Quebec’s largest privately owned design/advertising firms which he sold in 2005. Ryan & Deslauriers specializes in the sports, lifestyle and luxury resort real estate industries. Tom has done work for such companies and brands as Treasury Wine Estates, Corby’s, Seagrams, Matua Wines, Beringer Wines, Souverain Wines, BrownForman, Mark Anthony Group, Tequila Tromba, Sleeman’s Brewing, Howe Sound Brewing Company, Wayne Gretzky Enterprises, National Hockey League, Bauer, Nike, Dynastar Skis, CCM, Dayton Boots Company, Raffles Hotels, Four Seasons and Viceroy Hotels. His work has been recognized internationally by I.D. Magazine, Applied Arts Magazine, The One Show, Graphis, Communication Arts, San Francisco International Wine Awards, The Dieline, Lovely Package and many more.</p>
<p><img alt=”” class=”alignnone wp-image-101623143 size-large lazy” data-src=”https://cdn.investingnews.com/app/uploads/2021/02/lords-of-grasstown-apparel-1024×681.jpg” data-srcset=”https://cdn.investingnews.com/app/uploads/2021/02/lords-of-grasstown-apparel-1024×681.jpg 1024w, https://cdn.investingnews.com/app/uploads/2021/02/lords-of-grasstown-apparel-250×167.jpg 250w, https://cdn.investingnews.com/app/uploads/2021/02/lords-of-grasstown-apparel-768×511.jpg 768w, https://cdn.investingnews.com/app/uploads/2021/02/lords-of-grasstown-apparel-267×178.jpg 267w, https://cdn.investingnews.com/app/uploads/2021/02/lords-of-grasstown-apparel.jpg 1430w” height=”681″ sizes=”(max-width: 1024px) 100vw, 1024px” src=”https://cdn.investingnews.com/app/uploads/2021/02/lords-of-grasstown-apparel-1024×681.jpg” srcset=”” width=”1024″/></p>
<p><strong>About Tyler Hazelwood</strong></p>
<p>Tyler is a creative designer and marketing genius. His role as founder, creative director and head of social creative catapulted the Lords of Gastown Brand from the ground-up, while overseeing social creative and leading a multi-disciplined content team; Building new ways of working, with both in-house and external agencies, to bring award-winning, integrated ideas to life. He has a unique ability to engage his audience and leave them riding away in Lords apparel. Tyler Hazelwood is the founder of Lords of Gastown, founded in 2011 and incorporated in 2013 in one Vancouver’s grittiest neighborhoods. Lords of Gastown is a lifestyle brand spawned in the Pacific Northwest and raised in East Vancouver. Tyler’s love for Harley-Davidson motorcycles led to the design of street wear and apparel offering geared to the brand’s enthusiasts. Lords quickly gained the interest of Brian Barnes of Barnes Harley-Davidson Canada who operates Canada’s top three dealerships. Barnes was the perfect partner for Lords to grow their audience. With the help of Barnes Harley-Davidson, Lords was able to develop wholesale partnerships across North America. Lords reputation for design and quality grew, gathering notoriety and a massive social following across the United States with a strong following in California. In 2015 Lords was invited to the largest and most influential motorcycle show in California, representing one of the first Canadian brands to be invited and showcased. The engagement opened doors for partnerships and collaborations with some of America’s oldest and most respected motorcycle brands to the likes of Corbin, BMC, TBR, Simpson, Bell, Heatwave and Espinoza’s</p>
<p>Leather. Tyler has built the business with over 80 wholesale accounts across North America totalling over 100 worldwide including Switzerland, Mexico, Australia, Indonesia and Japan. Along with a healthy e-commerce business that generates $2 million a year through www.lordsofgastown.com.</p>
<p>Following the cult-like success of Lords of Gastown Motorcycle lifestyle brand came Lords of Grasstown Cannabis Culture Brand. In 2013, the Grasstown brand was launched as a passion project by Tyler with a focus on a collection of simple, clean, yet edgy, street wear apparel products including a CBD soap line with a nod to Fight Club. In 2015, while partnering with BC genetic guru JB, some of Canada’s highest testing medical cannabis strains were brought into the fold. Grasstown was gaining traction in the local cannabis culture as the company gathered phenomenal social exposure with placement of its legendary Grasstown lowrider ice cream truck throughout the Province at various cannabis and musical events.</p>
<p><strong>ON BEHALF OF PAC ROOTS CANNABIS CORP.</strong></p>
<p><strong>(signed) “Patrick Elliott”</strong><br/>
Chief Executive Officer</p>
<p>For further information, please contact:</p>
<p>Pac Roots Cannabis Corp.<br/>
www.pacroots.ca<br/>
Telephone: 604-609-6171</p>
<p>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.</p>
<p><strong>Statements about the Transaction and expected benefits therefrom are all forward-looking information.</strong></p>
<p><em>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 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.</em></p>
<p><em>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.</em></p>
<p><a href=”https://investingnews.com/company-profiles/pacific-roots-cse-pacr/” rel=”noopener noreferrer” target=”_blank”>Click here to connect with Pac Roots Cannabis Corp for an Investor Presentation.</a></p>
<p><a href=”https://www.stockwatch.com/News/Item?bid=Z-C:PACR-3035399&symbol=PACR&region=C&fmt=orig”>Source</a></p>
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TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
