Vancouver, B.C January 24, 2022 –Lords & Company Worldwide Holdings Inc.(formally Pac Roots Cannabis Corp.) (“Lords” or the “Company”) (CSE: LRDS) (OTCQB: LRDSF) (FSE: 4XM), is pleased to announce that, it has processed over 200 kg of crude of its 2020 with 87 bales from the 2020 crop and approx. 138 bales on the 2021 crop ready for processing cultivation. Processing of the balance of 225 bales under an existing production agreement at the Speak Easy https://speakeasygrowers.com/new-about/facility adjacent to our Rock Creek joint venture 100-acre cultivation property, is expected to be completed by the middle of February 2022. This represents a pre-sale of 100% of the production from our Rock Creek joint venture at$2,500-3,000/kg subject to final laboratory testing.
In other news the Company has been actively pursuing financing options for complete the build out its Kelowna facility. The challenges that have affected many businesses due to covid and the price and availability of construction materials, and sub-contractors, have led to the Company being given notice to vacate its facility. Lords still plans to build a Health Canada licensed production facility in British Columbia, as part of the next phase in the global expansion of its Cannabis vertical. The Company is currently evaluating serval facility options to complete its application for a Health Canada license. This includes the possible expansion of our Rock Creek joint venture to include a purpose-built indoor facility. Our Rock Creek venture currently operates under a Heath license # LIC-XLTCFIAQA9-2019-2 to cultivate industrial hemp for the following forms: seed, grain, fibre, flowering heads, leaves, branches; to sell industrial hemp: seed, grain, flowering heads, leaves or branches; and to import seed at our Rock Creek joint venture farm at 1520 Myers Creek Road, BC.
ON BEHALF OF LORDS & COMPANY WORLDWIDE HOLDINGS INC.
(signed) “Chris Farnworth”
Chief Executive Officer
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Lords & Company Worldwide Holdings Inc.
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.
Statements about the Company’s future branded lifestyle apparel are all forward-looking information.
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 failure to obtain a Cannabis Act license in a timely manner or at all, 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.
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