Christina Lake Cannabis First-Year Harvest Exceeds 22,500 kg Forecast
VANCOUVER, British Columbia, Oct. 09, 2020 (GLOBE NEWSWIRE) — Christina Lake Cannabis Corp. (the “Company” or “CLC” or “Christina Lake Cannabis”) is pleased to announce that as of October 8, 2020, it has met its first-year cannabis production forecast of 22,500 kg. In its inaugural grow season, CLC undertook cultivation of eight unique cannabis strains that have been carefully selected by the Company’s master growers based on properties that make each strain well-suited to outdoor cultivation. As of early September, several of CLC’s plants exceeded eight feet in height. The Company’s management believes that through a combination of favourable climate conditions, a carefully chosen variety of cannabis strains, and the continued high performance of its team members, its first-year harvest will exceed the 22,500 kg forecast. CLC plans to surpass this performance in future grow seasons due to maximizing its 99-acre plot of land adjoining the principal CLC site.Strains cultivated by CLC include Apricot Kush, Teacup, Pink Lady, Purple Kush B, and Blueberry, which is a favourite of the Company’s master growers. Additionally, CLC has cultivated two proprietary strains with an approximate tetrahydrocannabinol (“THC”) content of 25%, a level considered to be exceptionally high by industry standards.Nicco Dehaan, Chief Operating Officer and a co-founder of Christina Lake Cannabis commented, “Our initial grow and harvest seasons have exceeded expectations in many ways. We have built a phenomenal team and established an impressive, fully equipped outdoor cultivation site, which put us on a trajectory to perform very well from the beginning. We have also benefited from favourable weather conditions throughout the entire grow season.”A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4be63cf8-5766-43cb-8bc2-3b5905102752To maintain a high standard of quality, CLC’s field personnel hand-cut buds from plants and package them into food-grade bags which are transferred to the processing facility. The product is then sent through a stainless-steel grinder, which refines the material to a half-inch medium. After being ground, the product is placed on custom stackable food-grade trays, which are secured for drying in preparation for extraction of oil products.
About Christina Lake Cannabis Corp.Christina Lake Cannabis Corp is a Licensed Producer of cannabis under the Cannabis Act which secured a standard cultivation license and corresponding processing/sales amendment from Health Canada (March 2020 and August 2020, respectively) as well as a research and development license (early 2020). CLC’s facility consists of a 32-acre property, which includes over 950,000 square feet of outdoor grow space, offices, propagation and drying rooms, as well as research facilities, and a facility dedicated to processing and extraction. CLC cultivates cannabis using strains specifically developed for outdoor cultivation and expects to produce 22,500 kg or more from its 32-acre facility before developing its adjacent 99-acre expansion property, which will bring its cultivation footprint to over 4.35 million square feet or over 88,000 kg of low-cost, high-quality, sun-grown cannabis annually.On behalf of Christina Lake Cannabis Corp.:“Joel Dumaresq”Joel Dumaresq, CEO and DirectorFor more information about CLC, please visit: www.christinalakecannabis.comJamie 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.