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Christina Lake Cannabis Corp. (CLC.CN)

Canadian Sec - Canadian Sec Real Time Price. Currency in CAD
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0.4000+0.0200 (+5.26%)
As of 11:33AM EDT. Market open.
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Previous Close0.3800
Open0.4000
Bid0.3850 x N/A
Ask0.4000 x N/A
Day's Range0.3850 - 0.4150
52 Week Range0.3750 - 0.6500
Volume14,500
Avg. Volume153,990
Market CapN/A
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)-0.0460
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Christina Lake Cannabis Appoints Ryan Smith as Chief Financial Officer
    GlobeNewswire

    Christina Lake Cannabis Appoints Ryan Smith as Chief Financial Officer

    VANCOUVER, British Columbia, Oct. 27, 2020 (GLOBE NEWSWIRE) -- Christina Lake Cannabis Corp. (the “Company” or “CLC” or “Christina Lake Cannabis”) is pleased to announce the appointment of Ryan Smith as Chief Financial Officer (“CFO”) of the Company. As Controller, Mr. Smith has been responsible for managing the financial actions of the Company. In his previous endeavours, Mr. Smith acquired a track record of providing corporate value through a combination of strategic sales-driven activities and cost-saving measures. Mr. Smith is a finance professional with a diversified portfolio spanning multiple industries. He previously held senior positions with one of the largest credit unions in Canada, most recently managing a commercial portfolio in excess of $250 million. He gained experience in the telecommunications sector through senior financial roles with Axia NetMedia Corporation – the Calgary-based operator of Alberta’s SuperNet that was subsequently acquired by Bell – and KMM, a U.S.-based national provider of integrated logistics and network services for AT&T, Verizon and Ericsson. At both organizations, Mr. Smith played a key role in strategic investment initiatives and supported accounting functions. A former NCAA athlete, Mr. Smith holds a Bachelor of Business Administration with a concentration in finance, with the highest distinction, from Keiser University in Florida.“I feel fortunate to be part of one of the fastest-growing licensed cannabis producers in the country. When considering its extraction capabilities in conjunction with its production model, CLC is well positioned to abundantly provide the market with low-cost, high-quality cannabis flower, oil and hemp-based derivatives on a global scale. The opportunity to position ourselves in the domestic and international markets is very timely and particularly inspiring,” stated Mr. Smith.Joel Dumaresq, CEO and Director of Christina Lake Cannabis, commented, “As Christina Lake completes its inaugural harvest season and accelerates into the next phase of growth, we are particularly fortunate to have a technically skilled and analytical CFO, with a high degree of operational competency, such as Ryan Smith, on our team.”With the appointment of Ryan Smith as the Company’s Chief Financial Officer, Joel Dumaresq has transitioned from the interim position he assumed to focus solely on his current role of Chief Executive Officer.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’s facility 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.comJamie Frawley Investor Relations jamie@clcannabis.com 416-268-9432Robyn Rabinovich Media Inquiries robyn.rabinovich@hkstrategies.ca 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.

  • Christina Lake Cannabis Completes Inaugural Harvest – Crop Exceeds Target by 44%, Reaching 32,500 kg
    GlobeNewswire

    Christina Lake Cannabis Completes Inaugural Harvest – Crop Exceeds Target by 44%, Reaching 32,500 kg

    Photo 1 CLC Purple Kush strain Photo 2 CLC Blueberry strainVANCOUVER, 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 Investor Relations jamie@clcannabis.com 416-268-9432Robyn Rabinovich Media Inquiries robyn.rabinovich@hkstrategies.ca 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.

  • GlobeNewswire

    Christina Lake Cannabis Completes Commissioning of CO2 Extraction Equipment

    VANCOUVER, British Columbia, Oct. 15, 2020 (GLOBE NEWSWIRE) -- Christina Lake Cannabis Corp. (the “Company” or “CLC” or “Christina Lake Cannabis”) is pleased to announce it has completed the commissioning of its Vitalis Extraction Technology R200H-GMP-SS extraction system. The news comes days after revealing the Company has met its first-year cannabis production forecast of 22,500 kg, which will be processed to produce premium quality extracts in the form of full-spectrum cannabis oil, distillates, isolates and terpenes. CLC’s focus on extracting unique terpenes and cannabinoid profiles from the outdoor grown harvest answers a growing demand from a customer base interested in full-spectrum products. With flexibility, quality and safety at the core of its operations and future plans to scale, CLC chose the Vitalis R200 extractor made by Kelowna-based Vitalis Extraction Technologies.Joel Dumaresq commented, "Extraction is an important part of our business model, thus the need for advanced specialized machinery has validated the purchase and commissioning of the Vitalis R-200. Accomplishing this key milestone has aligned with the company’s goal of bringing product to market and establishing CLC as a global leader. Furthermore, CO2-based extraction systems, such as the Vitalis R-200-H-GMP-SS (which comes with the proper certifications and qualifications), can position the Company to receive a GMP certificate from the European Union (based on current standards), which would enable CLC to export its product directly to Europe." Since its release, the Vitalis R-Series has become renowned in the extraction industry for its speed and efficacy. At a 200-L scalable capacity, the system has been engineered to provide a wide range of pressure, and temperature controls to produce premium quality, full-spectrum extracts.In addition to holding the Canadian Standard Association (CRN), and American Society of Mechanical Engineers (ASME) certifications, the system is EU-GMP compliant, which meets the global production standards and regulations, and positions Christina Lake Cannabis to not only serve the growing domestic market but also expand its operations as an exporter of premium quality British Columbian cannabis extract to the world.CLC’s recent acquirement of ancillary equipment for the pre- and post-processing steps of the extraction process will also enable it to exceed its inaugural harvest by more than 200%. The additional bandwidth will allow CLC to increase its production with the option of expanding to its adjacent 99-acre property or by conducting supplementary hemp production in the form of toll processing.“Every Vitalis system has been designed to not only meet the standards of today but in anticipation of the changing regulatory requirements around the safety, quality and consistency of the future,” commented Joel Sherlock, Vitalis Co-founder and Chairman. “We are delighted to welcome Christina Lake Cannabis to the Vitalis family and look forward to witnessing their success as a leader in the global cannabis extraction space.”About Christina Lake Cannabis Corp.Christina Lake Cannabis Corp is a Licensed Producer of cannabis under the Cannabis Act which also received a Research and Development License from Health Canada on May 20, 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.About VitalisVitalis Extraction Technology Inc. (Vitalis) is a privately-owned, Kelowna BC-based engineering and manufacturing company, producing industrial supercritical CO2 extraction system for the cannabis, hemp, pharmaceuticals, F&B and essential oil industries. The company’s core focus on innovation and design has vaulted it to the forefront of the market. Renowned for their reliability, scalability, and continuous operation, Vitalis systems are euGMP-compliant and carry the latest certifications, including the American Society of Mechanical Engineers (ASME), National Board (NB), Canadian Standard Association (CSA/CRN), and European Conformity (CE/PED). Vitalis is one of only a few Original Equipment Manufacturers in the space, with operations in Canada, Australia, USA, Colombia, Denmark, United Kingdom, and Serbia as well as in-country support centers spread across the globe. Visit https://vitaliset.com for more information.On behalf of Christina Lake Cannabis Corp.:“Joel Dumaresq”Joel Dumaresq, CEO and DirectorFor more information about CLC, please visit: www.clcannabis.comJamie Frawley Investor Relations jamie@clcannabis.com 416-268-9432Robyn Rabinovich Media Inquiries robyn.rabinovich@hkstrategies.ca 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.