Christina Lake Cannabis Announces Genetic Databank With Portfolio of Over 100 Proprietary Strains for Outdoor Growth, and Total Inventory of 600,000+ Seeds
Ryan Allway
December 18th, 2020
News, Top News
VANCOUVER, British Columbia, Dec. 18, 2020 (GLOBE NEWSWIRE) — Christina Lake Cannabis Corp. (the “Company” or “CLC” or “Christina Lake Cannabis”) (CSE:CLC) (FRANKFURT: CLB) is pleased to announce that after its inaugural growing season in which the Company produced 32,500 kg / 71,650 lb of sun-grown cannabis, more than double its initially announced forecast of 15,000 kg / 33,000 lb for the year, the Company has accumulated a genetic databank with a portfolio of more than 100 proprietary cannabis strains specifically formulated for growing outdoors under sunlight. CLC has recognized that most common strains of cannabis have been engineered for indoor growth under artificial light, thereby resulting in a deficit of strains suited to outdoor growth. As a result, the Company has undertaken extensive R&D work to develop over 100 strains in-house with an objective of maximizing output from its growing activities. The Company currently holds a total inventory of more than 600,000 seeds, from which a selection is to be used for the 2021 growing season in which CLC plans to utilize a larger portion of its 32-acre site in Christina Lake, BC in addition to potentially utilizing part of an adjoining 99-acre plot also owned by the Company.
Below: One of CLC’s Master Growers stands next to one of the Company’s cannabis plants from its 2020 growing season, which grew to nearly ten feet in height. Right: Stalk from one of the Company’s 2020 growing season plants which grew to approximately 11 inches in circumference, or slightly larger than the circumference of a standard Mason jar.
In early 2020, the Company was granted a research and development license by Health Canada under the Cannabis Act, accompanying its standard cultivation license with amendments for processing and sales. The Company has explored several genetic combinations and variations to maximize the performance of a given plant when grown naturally outdoors by sunlight. During the 2020 growing season, CLC observed and analyzed growth times of each strain, as well as resistance of a given strain to elements such as mold and mildew. Further, the Company has sought to create named standards for specific strains of cannabis with corresponding legal protection for such strain names (a standard practice in agriculture and horticulture), which the Company anticipates could contribute to a greater degree of product integrity in the cannabis industry.
During the Company’s 2020 growing season, approximately 2,500 seeds were cultivated in CLC’s indoor facilities and transplanted on approximately 18 acres of land, out of more than 100 acres of arable land presently owned by the Company. Despite greater anticipated usage of the Company’s site in the 2021 growing season and scheduling certain strains to potentially be “turned over” more than once per year, CLC predicts that its current supply of more than 600,000 seeds could potentially be monetized by availing inventory to other Canadian Licensed Producers, without impacting the Company’s own operations.
Joel Dumaresq, Chief Executive Officer and a Director of the Company commented, “Part of what makes CLC unique is that our operations are highly integrated between growing, processing, extracting, and R&D. Aside from our production costs being inherently lower as a result of our strains being developed in-house, we also benefit from the ability to create cutting-edge strains of sun-grown cannabis that can maximize a plant’s yield when grown outdoors. Several other outdoor cultivators of cannabis use strains that are better suited to indoor growth, which has the unintended consequence of limiting their production capacity. We have recognized a deficiency in cannabis strains that are best suited to outdoor growth, which is exactly why we have actively developed our proprietary strains with outdoor cultivation in mind. Aside from allowing us to maximize our own cannabis production here at Christina Lake Cannabis, opportunities also exist to potentially create an additional revenue stream for the Company through licensing initiatives.”
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 also owns a 99-acre plot of land adjoining its principal 32-acre site, which enables the Company to grow at a much larger scale. CLC cultivates cannabis using strains specifically developed for outdoor cultivation and in its inaugural harvest year produced 32,500 kg (71,650 lb) on its existing facility before developing an adjacent 99-acre expansion property. Such an expansion will ultimately bring CLC’s annual cultivation footprint to over 4.35 million square feet, which could enable at least 150,000 kg (330,693 lb) of low-cost, high-quality, sun-grown cannabis to be produced annually by the Company.
On behalf of Christina Lake Cannabis Corp.:
“Joel Dumaresq”
Joel Dumaresq, CEO and Director
For more information about CLC, please visit: www.christinalakecannabis.com
Jamie Frawley
Investor Relations
jamie@clcannabis.com
416-268-9432
Jordan Owens
Media Inquiries
jordan.owens@hkstrategies.ca
236-818-5969
THE CANADIAN SECURITIES EXCHANGE (“CSE”) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE, NOR HAS OR DOES THE CSE’S REGULATION SERVICES PROVIDER.
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 http://www.sedar.com.
Statement Regarding Third-Party Investor Relations Firms
Disclosures relating to investor relations firms retained by Christina Lake Cannabis Corp. can be found under the Company’s profile on http://sedar.com.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
Search CannabisFN
Press Coverage
Psychedelics Index
Top Videos
Rob is the co-founding President of Pelorus Equity Group and has more than 18 years of experience in the real estate finance industry. Since the formation of Pelorus in 2010, he has raised more than $175,000,000 in secured real estate transactions. Rob’s primary role at Pelorus Equity Group is the development of strategic alliances with […]
Tim has over 22 years of investment experience as a portfolio manager, asset allocator, and capital markets professional across multiple asset classes, geographies, and platforms. Tim has built and operated two hedge funds, a broker dealer, and raised over $1Bn in capital for his combined businesses. Tim remains a recognized voice within the investment community […]
Cansortium is a US Based, vertically integrated cannabis company with a global mission: deliver the highest standards of cannabis care from nursery to lab to shelf.
Founded in the spring of 2014, Genius Extraction is owned and operated by its creators, Robert and Brenna Gaither. While Robert brings his sales prowess to the endeavor, Brenna’s strong background, education, and training in biochemistry establish the foundation for the company’s credibility in the extraction industry. With a strong understanding of the extraction industry’s […]
Network Partners
About CFN Media Group
CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.
Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer
