Christina Lake Cannabis Announces Standard Cultivation License
VANCOUVER, British Columbia, April 09, 2020 (GLOBE NEWSWIRE) — Christina Lake Cannabis Corp. (the “Company” or “CLC”) is pleased to announce that on Friday, March 27, 2020 it was granted its Standard Cultivation License (“SCL”) from Health Canada for the Company’s 32 acre phase I facility. This licence authorizes the cultivation and sale of cannabis under the Cannabis Act and provides the Company with over 950,000 sf of licenced outdoor cultivation space.
CLC’s facilities located in Christina Lake, B.C. are positioned to take advantage of the favourable climate for the outdoor cultivation of cannabis. Outdoor cannabis cultivation provides lower capital and operating cost advantages relative to indoor cultivation, which the Company believes will position the Company to become an industry leader in terms of scale and the realization of operational efficiencies.About Christina Lake Cannabis Corp.Christina Lake Cannabis Corp. is a Licenced Producer of cannabis under the Cannabis Act. The Company also applied to Health Canada for a Research and Development License on August 13, 2019 which it expects to receive in the spring of 2020. CLC’s facility is comprised of a 32-acre property, which includes over 950,000 square feet of outdoor grow space, offices, propagation and drying rooms. CLC plans to cultivate cannabis using strains specifically developed for outdoor cultivation and it is planning to produce up to 17,700 kg from its 32-acre facility before developing its adjacent 99-acre expansion property, which will bring its cultivation footprint to over 4.35 million sf or over 88,000 kg of low-cost, high-quality, sun-grown cannabis annually.For more information about CLC, please visit: www.clcannabis.comNote Regarding Forward-Looking Information and StatementsForward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.comOn behalf of:“Joel Dumaresq”Joel DumaresqCEO, Interim CFO and DirectorPhone: 604-687-2038