Christina Lake Cannabis Expands Production After Bumper Harvest
Ryan Allway
December 21st, 2020
App, Exclusive, News, Top Story
The cannabis industry experienced strong growth throughout the COVID-19 pandemic as people spend more time at home. According to Statistics Canada, sales between April and June were 74% higher than the same period a year ago. These trends have continued into the third quarter as Canadians increasingly move away from black market dealers.
Christina Lake Cannabis Corp. (CSE: CLC), a new licensed producer based in British Columbia, recently completed a successful inaugural harvest from the 2020 growing season.
Let’s take a look at how the company plans to expand production and capitalize on Canada’s rapidly growing cannabis industry with its unique value proposition.
A Strong Inaugural Harvest
Christina Lake Cannabis recently completed the first annual cannabis harvest on its 32-acre property that includes over 950,000 sq. ft. of outdoor grow space, offices, propagation and drying rooms, research facilities and a facility dedicated to processing and extraction.
Click here to receive an investor deck and corporate updates
The company initially expected to harvest about 22,500 kilograms, but in October, the total harvest came in 44.4% larger than expected at 32,500 kilograms. Mature plants rose as high as ten feet and the weighted average of each harvested cannabis plant was 1.5 kilograms with some reaching more than 3.2 kilograms is a sign that quality matched quantity.
The combination of an experienced Master Grower team, superior genetics and a unique geographical position in lower interior British Columbia were critical to success. The team has over 100 years of combined experience that contributed to the development of proprietary genetics tailored to thrive in the unique fertile delta where low rainfall and consistent winds prevail.
Watch an interview segment with CEO Joel Dumaresq explaining CLC’s superior climate for growing cannabis
Expansion Plans for Next Season
Christina Lake Cannabis plans to expand its grow operations in 2021 to expand upon its successes in the previous season. With an adjoining 99 acre plot of land, the company plans to utilize approximately 85 acres of land in addition to the 18 acres that it used during the 2020 harvest to significantly expand its harvest next year.
CEO Joel Dumaresq discusses CLC’s expansion plans
In addition to its massive increase in outdoor production acreage, the company plans to use timing strategies that could enable certain strains to be turned over twice in a single growing season, which could effectively double its yield for some of its strains. These developments could further leverage its production capacity and significantly expand its revenue potential in the coming year.
At the same time, the company’s Master Growers remain focused on using a production methodology that is built around using natural techniques, such as growing with sunlight and abstaining from the use of pesticides or fungicides, to ensure that they’re producing the highest quality crop at the best possible price for consumers.
Click here to receive an investor deck and corporate updates
Looking Ahead
Christina Lake Cannabis Corp. (CSE: CLC) has successfully raised C$20 million to date and used that capital to generate strong financial results from its first harvest. In addition to its expansion plans, the company is currently in the process of converting low-cost inputs from its harvest into high value cannabis extracts via its in-house processing equipment.
For more information, visit the company’s website or download their investor presentation.
Disclaimer
The above article is sponsored content. CannabisFN.com and CFN Media, have been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: https://cannabisfn.com/legal-disclaimer/
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.
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