<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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NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.
Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.
“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”
Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.
Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.
Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.
Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.
In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.
The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.
And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
