PacRoots Cannabis Corp. agreed to buy cannabis and motorcycle lifestyle brand and apparel company Lords of Grasstown.
Under the share purchase agreement, the Vancouver-based company opted to purchase all the issued and outstanding shares of Grasstown Holdings Ltd. for $50,000.
The sum is payable within a month, flowing the deal closing and issuance of some 6 million Pac Roots shares.
The transaction is scheduled to finalize on Friday, Feb.19.
Pac Roots CEO Patrick Elliott praised Grasstown, calling it an “incredible brand and story driven by artists with a passionate vision that resonates throughout a massive community.”
“This platform brings a tremendous following that embraces these attributes, which are well positioned to excel in BC and California’s west coast marketplaces,” Elliott added.
“We have created a unique story driven by our love for motorcycles and cannabis with a community that extends throughout the Americas,” Tyler Hazelwood of Grasstown stated.
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