Vancouver, B.C., April 29, 2020 - Pac Roots Cannabis Corp. (formerly Mountain Lake Minerals Inc.) ("MLK") (the "Company") announced that it has completed its previously announced acquisition of an application for a license under the Cannabis Act (Canada), indirectly through the acquisition of 1157630 B.C. Ltd., as well as the licensing arrangement with Phenome One Corp., a privately held, full service live genetic cannabis company. The Company has also changed its name from Mountain Lake Minerals Inc. to "Pac Roots Cannabis Corp.". The Company expects to commence trading on the Canadian Securities Exchange ("CSE:) on May 4, 2020 under the symbol "PACR" and under new management. Please check the latest news release for details of the transaction (April 29, 2020 News Release).
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Mountain Lake is a Canadian based exploration company listed on the Canadian Securities Exchange (CSE) under the trading symbol: MLK. The Company is geographically focused on the mining-friendly regions of Atlantic Canada with exploration properties that offer exposure to gold, base metals, and the specialty metal antimony.
Exploration expenditures in excess of $7,500,000 have been invested in the Company's current properties. The resulting wealth of geological data demonstrates excellent potential for further discovery and resource development.
Management's current business focus is on growth potential and marketing of MLK's existing assets. The Company is currently completing a business arrangement in the cannabis industry and spin out of its mining assets. The objective is to capitalize on the long-term growth potential of the Company.
Management is actively pursuing opportunities to acquire new mineral properties within Canada.
The Caledonia Brook Gold Project was optioned from New Dawn Resources Ltd. The property is underlain by the Crippleback Lake Pluton which is similar to intrusive rocks hosting the Valentine Lake gold deposit further south. Porphyry style Au-Cu mineralization occurs on the property.
Whether you're a returning shareholder or a first time visitor, we welcome you to the Mountain Lake website. This is a challenging yet exciting time and our current share price versus the discovery and development potential of our properties represents a risk/reward scenario worthy of consideration. We encourage you to invest a few minutes and learn more about the Company.