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Christina Lake Cannabis reports developments tied to its licensed Canadian cannabis cultivation, processing, and research operations. The company produces outdoor flower, extracts, and distillate for a B2B client base and operates cultivation and processing assets in British Columbia, including outdoor grow space, propagation and drying rooms, research facilities, greenhouses, and extraction infrastructure.
Recurring news covers financial-statement filings and related management cease trade order updates, operating performance, product mix, cultivation capacity, and supply-chain expansion following the Midway acquisition. Company announcements also address financing arrangements, equipment leases, asset dispositions involving non-core land, working-capital needs, and Health Canada licensing for standard cultivation, processing, and research and development activities.
Christina Lake Cannabis Corp. (CSE: CLC, OTCQB: CLCFF) has received its first purchase order for distillate oil worth CAD $129,000 from a Canadian licensed producer. The distillate, produced with potency levels above 90%, will be used for vape formulations. In 2020, the company harvested nearly double its forecasted yield, totaling 32,500 kg of dried cannabis. With the installation of the Vitalis Cosolvent Injection System, CLC has tripled its extraction capacity, enabling it to supply consistent high-quality products. CEO Joel Dumaresq highlighted the demand for distillates across various market segments.
Christina Lake Cannabis Corp. (CSE: CLC, OTCQB: CLCFF) announced a significant enhancement in its extraction capabilities with the installation of a new Cosolvent Injection System (CIS) developed by Vitalis Extraction Technology. This innovation has led to a remarkable increase of more than 175% in extraction throughput, allowing the company to process around 250 kg of biomass per day, compared to the previous 90 kg. The CIS is designed to reduce operational costs and improve product quality, with extracts achieving over 90% efficacy.
Christina Lake Cannabis Corp. (CSE: CLC, OTCQB: CLCFF) has appointed Rob Jones as President to enhance its commercialization efforts after a successful first harvest. With 35 years of experience in agriculture commodities trading, Jones previously served as Executive VP of Business Development and Sales. His leadership aims to establish a robust sales pipeline for CLC's cannabis products, including dried biomass and extracts, in Canada and internationally. The company anticipates leveraging Jones' expertise to optimize its market strategies and capitalize on upcoming opportunities.
Christina Lake Cannabis Corp. (CSE: CLC, OTCQB: CLCFF) has signed a memorandum of understanding with TAAT™ Lifestyle & Wellness Ltd. to develop and distribute TAAT™, a nicotine-free and tobacco-free alternative to cigarettes, in Canada. The MOU grants CLC exclusive rights for a two-year renewable term, allowing collaboration on budgets and schedules for product development. With the Canadian tobacco market valued at CAD $19.1 billion, CLC aims to capitalize on the growing interest in TAAT™ among Canadian smokers. The product's base material, Beyond Tobacco™, is derived from hemp and mimics the smoking experience.
Christina Lake Cannabis Corp. (OTC: CLCFF) has secured approval from OTC Markets Group to trade on the OTCQB exchange effective February 18, 2021. This uplisting aligns with the company’s strategy to expand into the U.S. cannabis market amid anticipated legislative changes. Companies on OTCQB must adhere to high financial standards and corporate governance. CEO Joel Dumaresq highlighted the uplisting as a favorable development for the company's market position, although it does not represent a material change in business activities.