Christina Lake Cannabis Completes Inaugural Harvest – Crop Exceeds Target by 44%, Reaching 32,500 kg
VANCOUVER, British Columbia, Oct. 26, 2020 (GLOBE NEWSWIRE) — Christina Lake Cannabis Corp. (the “Company” or “CLC” or “Christina Lake Cannabis”), a federally licensed cultivator, processor and vendor under the Cannabis Act since 2019, is pleased to announce that the Company has exceeded its first annual cannabis production forecast by 10,000 kg (22,046 lb) – a 44.4% increase from its 2020 target of 22,500 kg (49,604 lb) – which brings CLC’s inaugural harvest to 32,500 kg (71,650 lb) of dried cannabis. Mature plants rose as high as 10 feet and the weighted average of each harvested cannabis plant was 1.5 kg (3.3 lb), with some exceeding as much as 3.2 kg (7.1 lb). The Company attributes much of this success to its deeply experienced Master Grower team, superior genetics and the unique geographical position of its licensed cultivation properties in lower interior British Columbia.
Joel Dumaresq, CEO and Director of Christina Lake Cannabis, commented, “With the help of the area’s reliable climate combined with our experienced Master Grower team, the 2020 harvest exceeded our expectations for both quantity and quality of product. This has put CLC in a solid position to move forward immediately with extraction and sales, and the development of our 2021 plans for expansion on our additional 99 acres of land adjacent to our existing 32 acre footprint.Two photos accompanying this announcement are available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/d349b506-f4e2-4099-aecf-b7790aa62397https://www.globenewswire.com/NewsRoom/AttachmentNg/e38c782c-bf6b-4fe7-9862-5f1c905a2f34Master GrowersWith over 100 years of combined experience, CLC’s cultivation team has been growing in the vicinity of Christina Lake for the past 20 years.Our owner group includes Master Growers with decades of experience in both outdoor and indoor cultivation and the development of proprietary genetics.The team works with new technology (such as drones with heat vision) and is backed by a well-capitalized company.Our team members have faced many challenges as do-it-yourself growers, and their product was renowned in its own right for its strong genetics and highly potent THC content.
Proprietary GeneticsIt’s not just where you grow, but what you grow and who you grow it with. Our Master Growers have decades of outdoor cultivation experience and have developed robust proprietary genetics tailored to thrive in our unique environment.We have developed and controlled a wide variety of proprietary outdoor genetic property (“strains”) and seed stock that have proven to flourish in our local outdoor climate.Originally operating under Health Canada’s medical licensing program, our Master Growers have assembled a vast seed bank including over 600,000 cannabis seeds, and they have developed over 75 proprietary strains specifically engineered to thrive in our unique environment. Currently, our team has cultivated eight strains that have each proven to deliver exceptionally high yields and rich cannabinoid content.
Uniquely SituatedChristina Lake sits in the heart of two intersecting valleys in British Columbia, Canada. This fertile delta, with its unique geographical positioning, makes it one of the most desirable locations for cannabis production in North America.Consistent breezes from the southern-facing valley aid in the structural development of the plants, as well as their respiration cycles and pest control.With a low average rainfall of 500 mm, 54% of which takes place over the winter, our outdoor crops are less susceptible to water damage, mildew and rot.Thanks to the characteristics of our latitudinal valley, our location is exposed to a prolonged abundance of full-spectrum sunshine and lends itself to an extended growing season that typically spans up to eight months of the year.
About Christina Lake Cannabis Corp.
Christina Lake Cannabis Corp. is a licensed producer of cannabis under the Cannabis Act. It has secured a standard cultivation licence and corresponding processing/sales amendment from Health Canada (March 2020 and August 2020, respectively) as well as a research and development licence (early 2020). CLC’sfacility consists of a 32 acre property, which includes over 950,000 square feet of outdoor grow space, offices, propagation and drying rooms, research facilities, and a facility dedicated to processing and extraction. CLC cultivates cannabis using strains specifically developed for outdoor cultivation and in its inaugural harvest year produced 32,500 kg (71,650 lb) from its existing facility before developing an adjacent 99 acre expansion property, which will bring its annual cultivation footprint to over 4.35 million square feet or over 88,000 kg (194,007 lb) of low-cost, high-quality, sun-grown cannabis.On behalf of Christina Lake Cannabis Corp.:“Joel Dumaresq”Joel Dumaresq, CEO and DirectorFor more information about CLC, please visit: www.christinalakecannabis.com.Jamie Frawley
416-413-4775THE CANADIAN SECURITIES EXCHANGE (“CSE”) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.Forward-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.com.