PacRoots Update on the 100-Acres JV CBD Hemp Operation

There are approximately 130,000 premium hemp CBD plants in the ground across two 50-acre parcels. Seedlings were planted systematically in rows in the field after spending the first month in greenhouses, ensuring optimal growth while minimizing environmental influences in the early stage.

Figure 1 – Photo of farmers planting young hearty hemp plants outdoors in Rock Creek, BC. (June 2020)

PacRoots and Rock Creek Farms deploy traditional and customized hemp farming techniques, while utilizing the rich native soil. We optimize cultivation through these unique methods:

  • Our nutrients are custom formulated from raw salts for specific cultivars.
  • Systematic planting of cultivars that are stress-tested, planted young and hardy, measuring up to 18 inches, providing 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.

The hemp plantation is located in one of the best outdoor growing climates in Canada; the ‘Golden Mile’ in the South Okanagan Valley: also dubbed the Napa Valley of the North.

Harvesting is expected to begin October 15th, 2020 and the projected yield will be 500,000 – 700,000 pounds of biomass. 100% of the product from the plantation is under sales contract with a processor at fair market value.

Figure 2 – Hemp plant in late August of 2020

It has been a busy 4 months since listing on the CSE in early May 2020. 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.

PacRoots contribution to the joint venture will be an aggregate of $450,000 in capital, and RCF has contributed two commercial leases for over 100 acres of growing space, consulting services, cultivation licenses and equipment, agricultural infrastructure and intellectual property relating to commercial scale hemp operations and proprietary biomass storage techniques.

Profits generated from the joint venture will be distributed first to PacRoots until its capital contributions have been repaid and thereafter in accordance with the interests in the joint venture held by the parties.

Rock Creek is a well establish agricultural mecca situated in British Columbia’s ‘Golden Mile’ in the South Okanagan Valley. It is celebrated for its ideal climate conditions, honouring this region’s tradition of excellence and a family legacy that has grown here for more than 120 years.

Patrick Elliott”
Chief Executive Officer” data-reactid=”89″>(signed) “Patrick Elliott”
Chief Executive Officer

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