Welcome to our dedicated page for Christina Lake C news (Ticker: CLCFF), a resource for investors and traders seeking the latest updates and insights on Christina Lake C stock.
Christina Lake Cannabis Corp. ("CLC" or "Christina Lake Cannabis") (OTCQB: CLCFF) generates a steady flow of corporate and regulatory news that reflects its role as a licensed cannabis producer under the Cannabis Act. Its releases cover operational milestones, cultivation expansion, financial reporting updates, and financing arrangements related to its outdoor cannabis operations in British Columbia, Canada.
In its public updates, the company frequently discusses its outdoor cultivation footprint, which includes a 32-acre property with over 950,000 square feet of outdoor grow space and additional licensed acreage and facilities. News items describe harvest outcomes from its Christina Lake and Midway sites, the use of proprietary strains for outdoor cultivation, and the production of outdoor flower, extracts and distillate for a B2B client base.
Investors and followers of CLCFF can also find announcements about audited annual financial statements and interim financial filings, including the timing of submissions to SEDAR or SEDAR+. Several releases address management cease trade orders granted by Canadian securities regulators in connection with filing delays, along with subsequent revocations once required documents are filed.
Other notable news themes include business updates on inventory and biological assets, the impact of expanded cultivation on production levels, and financing activities such as non-brokered private placements and a secured credit facility with a related party lender. The company also reports on an equipment lease agreement tied to its operations and provides risk factor and forward-looking information disclosures in its releases.
This news page aggregates these company-issued announcements so readers can review Christina Lake Cannabis’ operational developments, regulatory communications, and financing disclosures in one place.
Christina Lake Cannabis Corp. reported strong financial results for Q2 FY2022. Revenue reached $2.3 million, a 40% increase from Q1 FY2022 and a remarkable 971% growth compared to Q2 2021. Total revenue for the first six months hit $3.9 million, surpassing the entire fiscal 2021 total. The company achieved a 56% gross margin and a net income of $22,000, a significant improvement from last year's loss. Additionally, positive EBITDA stood at $184,000, driven by revenue growth and reduced operating expenses, which declined by 70% year-over-year.
Christina Lake Cannabis Corp. announced the appointment of Mark Aiken as the new CEO, pending approval from Health Canada and the Canadian Securities Exchange. Aiken, a seasoned cannabis executive with extensive experience, previously served as VP of Strategic Business Development at HEXO and is expected to enhance CLC's B2B sales pipeline. CLC has expanded to a team of 52, focusing on sun-grown cannabis cultivation. Interim CEO Joel Dumaresq will remain on the Board, thanking Aiken for his contributions as the company aims to capitalize on market opportunities.
Christina Lake Cannabis Corp. (CSE: CLC, OTCQB: CLCFF) is hosting a live presentation at the KCSA Cannabis Virtual Investor Conference on January 19, 2022, at 1:30 p.m. EST. CEO Joel Dumaresq will discuss the company's progress and answer questions in real-time. Investors can preregister at VirtualInvestorConferences.com for updates. Additionally, a special meeting for Class B preferred shareholders is scheduled for February 21, 2022, with a record date of January 20, 2022.
Christina Lake Cannabis Corp. (CSE: CLC) (OTCQB: CLCFF) shared an open letter detailing significant operational progress in 2021. The company reported a remarkable sales increase, culminating in Q4 sales of approximately $2,063,569, a 60% rise from the previous quarter. With a total yield of about 38,000 kg from its second growing season, the company continues to enhance processing efficiencies through advanced equipment. As 2022 begins, Christina Lake aims to solidify its position in the cannabis oil market and expand its customer base, driven by innovations in production and extraction processes.
Christina Lake Cannabis Corp. (CSE: CLC, OTCQB: CLCFF) reported a record third quarter in fiscal 2021, achieving gross revenue of $1,290,000, a 495% increase from the previous quarter. General and administrative expenses decreased by 10.4% to $1,666,031. The company also recorded a net income of $3,779,843, compared to $877,763 in Q3 2020. As of August 31, 2021, total assets were valued at $24,808,196. The CEO noted strong demand for cannabis extracts and improved yield from the second crop due to enhanced harvesting techniques.
Christina Lake Cannabis Corp. (CLC) announced positive outcomes from its initial 2021 harvest, attributing success to favorable weather and optimized techniques led by experienced Master Growers. The crop is expected to exceed last year's yield due to robust plant growth and advanced genetics. CLC plans to expand its product range, introducing pre-rolled products and concentrates. With enhanced processing equipment, the company aims for significant cost efficiencies. Harvest completion is anticipated by October 2021, with sales initiatives for new products set for Q4. The CEO highlighted improved operational insights and a strong sales pipeline.
Christina Lake Cannabis Corp. (CLCFF) has released its first operational update for the 2021 growing season, highlighting outdoor cultivation of 5,000 plants, including 90 experimental strains. These strains display promising characteristics for commercial-scale cultivation, particularly in high-temperature conditions. CLC's proprietary genetics are enabling robust growth, despite regional weather extremes. Enhanced irrigation systems have improved water efficiency and plant health. The company aims to expand its cultivation capacity significantly, targeting annual production of at least 150,000 kg of cannabis.
Christina Lake Cannabis Corp. (CSE: CLC, OTCQB: CLCFF) has successfully produced cannabis distillate oils with a THC concentration of 90.4%, a significant milestone for the vaping industry. This achievement aligns with the increasing demand for high-quality cannabis extracts in Canada, where vape users account for 37% of cannabis consumers. CLC's distillate oils have garnered positive feedback from established vaping clients and are positioned to capitalize on the burgeoning Cannabis 2.0 market, which includes a variety of new product categories. The company continues to expand its relationships and wholesale orders.
Christina Lake Cannabis Corp. (CLCFF) is transferring over 45,000 plants from its greenhouse to the field for the 2021 growing season, increasing its pot count by 15% to approximately 26,000. The company is focusing on cultivating seven established cannabis strains while continuing R&D on over 50 experimental strains aimed at enhancing outdoor growth durability and THC potency. Favorable climate conditions are anticipated for outdoor cultivation. CLC is also expanding its extraction capacity and aims to develop a range of cannabis products, enhancing its market presence.
Christina Lake Cannabis (CSE: CLC, OTCQB: CLCFF) has announced significant advancements as it prepares for the 2021 growing season. The company will cultivate approximately 26,000 plants, a 15% increase from 2020. CLC is enhancing its R&D efforts, particularly in developing cannabis strains suited for outdoor cultivation. With a boost in extraction capacity by over 175% and new staffing initiatives, the company aims to meet rising market demand. CEO Joel Dumaresq expressed optimism for 2021, anticipating impressive results driven by increased sales of cannabis and extracts.
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