Announcement • May 26
Christina Lake Cannabis Corp., Annual General Meeting, Jul 31, 2026 Christina Lake Cannabis Corp., Annual General Meeting, Jul 31, 2026. Location: alberta, calgary Canada Reported Earnings • Feb 01
Third quarter 2026 earnings released: EPS: CA$0.005 (vs CA$0.003 loss in 3Q 2025) Third quarter 2026 results: EPS: CA$0.005 (up from CA$0.003 loss in 3Q 2025). Revenue: CA$3.87m (down 2.2% from 3Q 2025). Net income: CA$1.22m (up CA$1.84m from 3Q 2025). Profit margin: 31% (up from net loss in 3Q 2025). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 02
Second quarter 2026 earnings released: EPS: CA$0.014 (vs CA$0.032 in 2Q 2025) Second quarter 2026 results: EPS: CA$0.014 (down from CA$0.032 in 2Q 2025). Revenue: CA$2.34m (down 30% from 2Q 2025). Net income: CA$3.48m (down 18% from 2Q 2025). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jul 21
Now 26% overvalued Over the last 90 days, the stock has fallen 31% to CA$0.045. The fair value is estimated to be CA$0.036, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 32%. Reported Earnings • Jul 07
Full year 2025 earnings released: CA$0.014 loss per share (vs CA$0.031 loss in FY 2024) Full year 2025 results: CA$0.014 loss per share (improved from CA$0.031 loss in FY 2024). Revenue: CA$15.1m (up 18% from FY 2024). Net loss: CA$2.14m (loss narrowed 48% from FY 2024). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Announcement • May 26
Christina Lake Cannabis Corp., Annual General Meeting, Jul 31, 2025 Christina Lake Cannabis Corp., Annual General Meeting, Jul 31, 2025. Location: alberta, calgary Canada Announcement • Apr 24
Christina Lake Cannabis Corp. announced that it expects to receive CAD 2.5 million in funding Christina Lake Cannabis Corp. announced a non-brokered private placement to issue 50,000,000 units at an issue price of CAD 0.05 per unit for gross proceeds of CAD 2,500,000 on April 23, 2025. Each unit consisting of one common share and one half of one common share purchase warrant, exercisable for a term of 60 months at a price of CAD 0.065 per share. The first tranche of the offering is expected to close on or about April 30, 2025, or such other date or dates that the company may determine, subject to the receipt of all required regulatory approval, including acceptance of the CSE. All securities issued in connection with the offering will be subject to a hold period of four months and one day from the closing date, in accordance with applicable Canadian securities laws. Certain directors and officers of the company may acquire units under the offering. Board Change • Apr 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Independent Chairman Jay McMillan was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Jan 31
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 43% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.8x net interest cover). Share price has been highly volatile over the past 3 months (48% average weekly change). High level of non-cash earnings (32% accrual ratio). Shareholders have been substantially diluted in the past year (43% increase in shares outstanding). Market cap is less than US$10m (CA$7.51m market cap, or US$5.19m). Reported Earnings • Jan 29
Full year 2024 earnings released: EPS: CA$0.007 (vs CA$0.032 loss in FY 2023) Full year 2024 results: EPS: CA$0.007 (up from CA$0.032 loss in FY 2023). Revenue: CA$13.6m (up 16% from FY 2023). Net income: CA$865.0k (up CA$5.00m from FY 2023). Profit margin: 6.4% (up from net loss in FY 2023). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Announcement • Dec 21
Christina Lake Cannabis Corp. announced that it has received CAD 3.108375 million in funding from The Playford Family Limited Partnership On December 20, 2024. Christina Lake Cannabis Corp. has closed transaction. it has issued 37,529,546 Common Shares at a price of CAD 0.033 per Common Share for proceeds CAD 1.238475018 million. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: CA$0.032 (vs CA$0.019 in 3Q 2023) Third quarter 2024 results: EPS: CA$0.032 (up from CA$0.019 in 3Q 2023). Revenue: CA$3.33m (down 6.2% from 3Q 2023). Net income: CA$4.26m (up 72% from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 54% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 01
Second quarter 2024 earnings released: CA$0.012 loss per share (vs CA$0.006 loss in 2Q 2023) Second quarter 2024 results: CA$0.012 loss per share (further deteriorated from CA$0.006 loss in 2Q 2023). Revenue: CA$3.33m (down 4.1% from 2Q 2023). Net loss: CA$1.57m (loss widened 103% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 61% per year, which means it is significantly lagging earnings. New Risk • Jun 27
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$3.0m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$3.0m free cash flow). Share price has been highly volatile over the past 3 months (40% average weekly change). Earnings have declined by 15% per year over the past 5 years. Market cap is less than US$10m (CA$3.93m market cap, or US$2.87m). Buy Or Sell Opportunity • Jun 20
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 25% to CA$0.03. The fair value is estimated to be CA$0.039, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 75% over the last 3 years. Earnings per share has grown by 24%. Reported Earnings • Jun 18
Full year 2023 earnings released: CA$0.032 loss per share (vs CA$0.016 loss in FY 2022) Full year 2023 results: CA$0.032 loss per share (further deteriorated from CA$0.016 loss in FY 2022). Revenue: CA$11.8m (up 17% from FY 2022). Net loss: CA$4.13m (loss widened 104% from FY 2022). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 59% per year, which means it is significantly lagging earnings. New Risk • May 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended August 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (31% average weekly change). Earnings have declined by 24% per year over the past 5 years. Market cap is less than US$10m (CA$3.93m market cap, or US$2.89m). Minor Risk Latest financial reports are more than 6 months old (reported August 2023 fiscal period end). Announcement • Feb 14
Christina Lake Cannabis Corp. (CNSX:CLC) completed the acqsuition of Certain Assets from British Columbia corporation. Christina Lake Cannabis Corp. (CNSX:CLC) agreed to acquire certain Assets from British Columbia corporation for $3 million on February 5, 2024. Transaction includes acquiring ownership of outdoor cultivation facilities in Midway, British Columbia, related harvesting and manufacturing equipment, and approximately 19,000 kg. of biomass. The Purchase Price for the acquisition was paid through the issuance of a secured convertible promissory note having a 5-year term. The Note is secured by the land and buildings acquired in the Transaction. The Transaction is expected to close on February 9, 2024, subject to completion of customary closing conditions.
Christina Lake Cannabis Corp. (CNSX:CLC) completed the acqsuition of Certain Assets from British Columbia corporation on February 12, 2024. Announcement • Feb 05
Christina Lake Cannabis Corp. announced that it expects to receive CAD 2.5 million in funding Christina Lake Cannabis Corp announced a non-brokered financing to issue convertible subordinated notes for the gross proceeds of CAD 2,500,000 on February 5, 2024. Certain directors and officers of the company may acquire financing notes under the offering. The Financing Notes will also be granted a subordinated security interest over another existing property of the Company. The Financing Notes will bear interest and repayment at the same schedule as the above Note issuable to the Vendor in the Transaction. Outstanding principal and unpaid interest from the Financing Notes will be convertible into common shares at a conversion price of CAD 0.05 per common share during the Term. Subscribers shall have the right to convert the Financing Notes at any time, subject to a notice period. Additionally, the Company shall have the right to repay the Financing Notes at any time during the Term, together with prepayment of any remaining interest payable under the Financing Notes. The Company expects to close the initial tranche of the Offering on or about February 26, 2024. Reported Earnings • Oct 31
Third quarter 2023 earnings released: EPS: CA$0.019 (vs CA$0.019 in 3Q 2022) Third quarter 2023 results: EPS: CA$0.019 (in line with 3Q 2022). Revenue: CA$3.55m (up 22% from 3Q 2022). Net income: CA$2.48m (down 1.7% from 3Q 2022). Profit margin: 70% (down from 87% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 53% per year, which means it is significantly lagging earnings. Announcement • Sep 08
Christina Lake Cannabis Corp. announced that it expects to receive CAD 5 million in funding Christina Lake Cannabis Corp. announced a non-brokered private placement to issue 15% convertible promissory notes for the gross proceeds of CAD 5,000,000 on September 7, 2023. The Note bears interest at a rate of 15% per annum over a term of 36 months from the date of closing. The repayment of the Note shall be in the form of interest only payments for the first 15 months and a blended principal and interest payment for the remaining Term. Outstanding principal and interest from the Notes will be convertible into common shares at a conversion price of CAD 0.06 per common share during the Term. The first tranche of the Offering is expected to close on or about September 11, 2023, or such other date or dates that the Company may determine, subject to the receipt of all required regulatory approval, including acceptance of the CSE. All securities issued in connection with the Offering will be subject to a hold period of four months and one day from the closing date, in accordance with applicable Canadian securities laws. The transaction may include participation from Certain directors and officers for CAD 2,500,000. Reported Earnings • Aug 02
Second quarter 2023 earnings released: CA$0.006 loss per share (vs CA$0 in 2Q 2022) Second quarter 2023 results: CA$0.006 loss per share (further deteriorated from CA$0 in 2Q 2022). Revenue: CA$3.48m (up 50% from 2Q 2022). Net loss: CA$774.8k (down CA$796.4k from profit in 2Q 2022). Reported Earnings • May 03
First quarter 2023 earnings released: CA$0.009 loss per share (vs CA$0.007 loss in 1Q 2022) First quarter 2023 results: CA$0.009 loss per share (further deteriorated from CA$0.007 loss in 1Q 2022). Revenue: CA$1.92m (up 16% from 1Q 2022). Net loss: CA$1.21m (loss widened 57% from 1Q 2022). Announcement • Dec 13
Christina Lake Cannabis Corp. Announces Management Team Christina Lake Cannabis Corp. announced several changes to the Board of Directors and Management, including the appointment of Jay McMillan as Chairman of the Board of Directors, effective December 9, 2022, the transition of Mervin Boychuk to Director, the retirement of Rob Jones, and the promotion of Milan Stefancik to Vice President of Sales and Marketing. Mr. McMillan will be replacing Mervin Boychuk, upon the completion of Mr. Boychuk’s two-year term as he transitions to Director on the CLC Board. Mr. Boychuk has had a successful 35-year career building, growing, and selling businesses. The Company wishes to thank Mr. Boychuk for his dedication and guidance over the last two years as Christina Lake has navigated the transition from an early start up to the next stage of its growth. His guidance has been instrumental in helping to position the Company as one of the country’s leading cannabis extractors through responsible capital deployment. The Company would also like to announce the retirement of Rob Jones, President. Rob joined Christina Lake in 2020 and played a key role in standing up a strong operational base and navigating numerous challenges over the years. Mr. Stefancik brings with him over 10 years of sales and marketing experience, including a thorough understanding of the cannabis market and well-developed key relationships. Prior to his role at Christina Lake, he held the position of Director of Key Accounts at Aurora Cannabis. Reported Earnings • Nov 01
Third quarter 2022 earnings released: EPS: CA$0.019 (vs CA$0.034 in 3Q 2021) Third quarter 2022 results: EPS: CA$0.019 (down from CA$0.034 in 3Q 2021). Revenue: CA$2.91m (up 126% from 3Q 2021). Net income: CA$2.52m (down 33% from 3Q 2021). Profit margin: 87% (down from 293% in 3Q 2021). Announcement • Oct 20
Christina Lake Cannabis Corp. announced a financing transaction Christina Lake Cannabis Corp. announced non-brokered private placement of unsecured convertible debentures on October 18, 2022. The Debenture will mature thirty-six months from the date of issuance and bear interest at the rate of 15% per annum, with such interest to be accrued on a monthly basis and paid on a semi-annual basis. Pursuant to the terms of the Debenture, the subscriber may at any time prior to the Maturity Date convert the principal amounts of the Debenture and any accrued but unpaid interest into common shares of the Company, at a price of CAD 0.15 per Common share. All securities issued pursuant to the Offering are subject to a statutory four-month and one day hold period from the date of issuance pursuant to applicable securities laws of Canada.
On the same day, the company received CAD 960,000 in its first and second tranche closing including second tranche of CAD 150,000. In connection with the second tranche of the private placement, the Company paid a finder’s fee of $9,000(CAD 12,387.33) cash to a qualified party. The company also issued aggregate of 75,000 bonus warrants to the subscriber of the Offering. The subscriber received one half of one Bonus Warrant for each CAD 1 subscribed under the Offering. Each Bonus Warrant is exercisable until December 31, 2024 to acquire one additional Share per Bonus Warrant at an exercise price of CAD 0.20 per share. The Bonus Warrants are subject to an acceleration clause, whereby if the volume weighted average price Common Shares exceeds CAD 0.40 per Common Share for a period of 20 days, the Company may accelerate the expiry of the Bonus Warrants by providing notice to the holder. Announcement • Sep 20
Christina Lake Cannabis Corp. Announces Executive Changes Christina Lake Cannabis Corp. announced that further to the news release dated August 4, 2022, Health Canada has cleared Mark Aiken’s mandatory Security Clearance and he has been officially been appointed as Chief Executive Officer of the Company, effective September 16, 2022. Following Mr. Aiken’s appointment as CEO of Christina Lake Cannabis, current interim-CEO Joel Dumaresq has stepped down from this position. Mr. Dumaresq will remain a member of CLC’s Board of Directors. Announcement • Sep 09
Christina Lake Cannabis Corp. announced that it has received CAD 0.81 million in funding Christina Lake Cannabis Corp. announced that it has completed a non-brokered private placement of unsecured convertible debentures of gross proceeds of CAD 810,000 on September 7, 2022. The debentures will mature thirty-six months from the date of issuance and bear interest at the rate of 15% per annum, with such interest to be accrued on a monthly basis and paid on a semi-annual basis. In connection with the issuance of the debentures, the company issued an aggregate of 405,000 bonus warrants to the subscribers of the Offering. Each subscriber received one half of one Bonus Warrant for each CAD 1 subscribed under the offering. Each Bonus Warrant is exercisable until December 31, 2024 to acquire one additional common share per Bonus Warrant at an exercise price of CAD 0.20 per share. All securities issued pursuant to the offering are subject to a statutory four-month and one day hold period from the date of issuance pursuant to applicable securities laws of Canada. Announcement • Aug 20
Christina Lake Cannabis Corp. Announces Its on Track to Successfully Complete Its Third Cultivation Season with A Predicted Healthy Crop of Tetrahydrocannabinol Rich Cannabis Plants Christina Lake Cannabis Corp. announced that the Company is on track to successfully complete its third cultivation season with a predicted healthy crop of tetrahydrocannabinol (THC)-rich cannabis plants. CLC's proven ability to effectively cultivate cannabis outdoors over its first two grow seasons has optimized its yields for cost-efficient production to develop premium distillate oil with greater commercial sales value. A primary corporate objective heading into the 2022 grow season was to increase the quantity of tetrahydrocannabinol-rich oil it extracts from dried biomass, which is largely dependent upon the genetic composition of a given strain. CLC's Master Growers believe, based on the status of the 2022 crop, this objective should be realized. 2022 Cultivation Recap: CLC began the process of transferring 25,000 plants from its onsite greenhouse facility to its 22-acre outdoor growing facilities during the final week of May 2022. The spring season in the Christina Lake region of British Columbia brought cooler than average temperatures, but quickly progressed to becoming a consistently hot and dry summer - ideal for growing cannabis in an outdoor environment. In total, CLC is on track to cultivate a total of 41-core and experimental proprietary strains of cannabis. Grow season outcomes will be finalized in approximately Fourth Quarter 2022, at which point the Company's Master Growers will determine the allocation of these strains in future growing seasons, subject to prevailing and emerging market trends in the cannabis industry. The choice of genetics this year was based upon the data and learning from CLC's previous two crops. 24,000 25-gallon (95-litre) pots were utilized to contain the Company's top three (3) proven proprietary cannabis strains that have already undergone successful commercial-scale growth, as well as 38-experimental strains from its genetic library that are still under observation to identify the genetic formulations with benefits to include durability for outdoor growth and increased potency of THC. CLC's advanced drone technology allowed the Company's Master Growers to track the growth of the plants daily and quickly adapt to any growing challenges that may have required additional attention. CLC's Master Growers used various cultivation techniques (adjusted feeding programs) during the region's temperature swings to ensure the plants stayed healthy and continued to thrive all season long. Next Steps into the 2022 Harvest Season: CLC plans to commence its third harvest season during the first week of September 2022. The Company has employed an additional 40 experienced employees to execute and complete this phase. CLC's Master Growers anticipate the harvest season will last approximately 6-7 weeks. Announcement • Aug 05
Christina Lake Cannabis Corp. Announces Executive Changes Christina Lake Cannabis Corp. (CLC) announced that Mark Aiken, a seasoned cannabis executive has joined CLC as Chief Executive Officer pending a mandatory security clearance by Health Canada and approval of the Canadian Securities Exchange. CLC anticipates it can benefit significantly from Aiken’s leadership as the Company seeks to enhance and optimize its B2B sales pipeline across Canada. Fluent in English, French, and Spanish, Aiken began his career in sales positions with organizations to include Rema Tip Top AG, Vortex Aquatic Structures, and Plombco. In 2009, Aiken was awarded a Master of Business Administration degree from Queens University. From 2014 through 2019 Aiken served as a management consultant for the Automotive sector, across North America focusing on strategy, marketing and distribution growth in preparation for M&A activities. Most recently, Aiken was Vice President of Strategic Business Development for HEXO Corp. Aiken played a pivotal role in facilitating key CPG relationships and multiple international supply agreements for expansions into Israel, Australia, and South Africa growing HEXO’s international sales by 320%. Upon Aiken’s appointment as CEO of Christina Lake Cannabis, current interim-CEO Joel Dumaresq will step down from his position. Dumaresq will remain a member of CLC’s Board of Directors. Reported Earnings • Aug 03
Second quarter 2022 earnings released: EPS: CA$0 (vs CA$0.017 loss in 2Q 2021) Second quarter 2022 results: EPS: CA$0 (up from CA$0.017 loss in 2Q 2021). Revenue: CA$2.32m (up CA$2.10m from 2Q 2021). Net income: CA$21.7k (up CA$1.83m from 2Q 2021). Profit margin: 0.9% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Announcement • Jun 25
Christina Lake Cannabis Corp., Annual General Meeting, Aug 25, 2022 Christina Lake Cannabis Corp., Annual General Meeting, Aug 25, 2022. Location: 789 West Pender Street, Suite 810 Vancouver, BC V6C 1H2 Vancouver British Columbia Canada Reported Earnings • May 01
First quarter 2022 earnings released: CA$0.007 loss per share (vs CA$0.018 loss in 1Q 2021) First quarter 2022 results: CA$0.007 loss per share (up from CA$0.018 loss in 1Q 2021). Revenue: CA$1.65m (up CA$1.59m from 1Q 2021). Net loss: CA$769.6k (loss narrowed 57% from 1Q 2021). Announcement • Jan 12
Christina Lake Cannabis Corp. Provides Sales Guidance for the Fourth Quarter of 2021 Christina Lake Cannabis Corp. provided sales guidance for the fourth quarter of 2021. For the quarter, the company anticipates sales to increased approximately 60% from the prior quarter to approximately $2,063,569. Announcement • Jul 15
Christina Lake Cannabis Corp. Provides First Operational Update Christina Lake Cannabis Corp. provided its first operational update pertaining to the 2021 growing season in which the Company is cultivating a large quantity of clones and seedlings outdoors under natural sunlight. In addition to the seven proprietary cannabis strains which comprise the majority of CLC's plants being grown this year, more than 90 experimental strains are also under observation in the field with an objective of identifying certain favourable characteristics (e.g., resistance to mould and pests, tolerance of natural outdoor elements). As demand persists for distillate oils containing high concentrations of tetrahydrocannabinol ("THC"), this attribute is specifically prioritized by CLC's Master Growers when assessing experimental cannabis strains to be used for extraction. Over the course of the current growing season, CLC's experimental strains have met several key performance criteria with regard to their suitability for commercial-scale cultivation. Although this year's experimental strains had successfully grown from seeds, they are now successfully growing as clones from mother plants. As of this writing, the vast majority of CLC's 5,000 plants of experimental strains are displaying ideal characteristics through vegetation (e.g., structure, forecasted THC potency), which are expected to be sustained through the flowering stage. To date, the Kootenay region of southern British Columbia has experienced unusually hot temperatures, which have reached as high as 45 degrees Celsius /113 degrees Fahrenheit during the month of June 2021. Although such weather extremes tend to negatively affect the health and performance of cannabis plants, CLC's crop has been growing exceptionally well under these circumstances to the point that many of its plants now require the physical support of trellises due to their size. Reports from other operations in Western Canada's agricultural sector tend to indicate that this spring's weather conditions have not been favourable for the growth of their normal crops. Based on these reports, the Company believes that the genetics of its proprietary cannabis strains (which are specifically engineered for outdoor growth) could be enabling CLC's crop to thrive under higher-than-normal outdoor temperatures. Announcement • Jun 08
Christina Lake Cannabis Corp. announced that it has received CAD 2.639201 million in funding Christina Lake Cannabis Corp. (CNSX:CLC) announced a private placement of 6,283,813 units at a price of CAD 0.42 per unit for gross proceeds of CAD 2,639,201 on June 7, 2021. Each unit consists of one common share and one-half of one transferable share purchase warrant. Each warrant entitles the holder there of to purchase one additional share at a price of CAD 0.65 per share for a period of thirty months from the date of issuance. The transaction includes participation from two directors for an aggregate of 438,100 units. In the event that the Shares have a closing on the on the Canadian Securities Exchange. The company paid finder's fees of CAD 34,020,81,000 Warrants and 230,546 units of have been paid in connection with the transaction. All securities issued are subject to a statutory four-month and one day hold period. Executive Departure • Apr 02
Director has left the company On the 26th of March, Jason Taylor's tenure as Director ended after 2.2 years in the role. We don't have any record of a personal shareholding under Jason's name. Jason is the only executive to leave the company over the last 12 months. Announcement • Mar 19
Christina Lake Cannabis Corp. Appoints Rob Jones as President Christina Lake Cannabis Corp. announced that it has appointed Rob Jones, an accomplished global trader of agriculture commodities, as the President of CLC to lead its commercialization efforts beginning in 2021 as the Company seeks to introduce its dried cannabis biomass and extracts to the market following an exceptionally successful inaugural harvest. Mr. Jones has been promoted to this position from his role as Executive Vice President of Business Development and Sales for CLC. Under Mr. Jones’ leadership as President, CLC believes it can form a robust sales pipeline for its goods within Canada and potentially in international markets. Over a 35-year career in trading agriculture commodities, Mr. Jones has dealt in categories including feed, oleochemicals, and energy in international markets to include Mexico, Taiwan, Singapore, Japan, and South Korea. Announcement • Jan 31
Christina Lake Cannabis Corp. Announces Certification of Cannabis Distillate Oils Having Tetrahydrocannabinol Concentration of 90.3% Based on a Certificate of Analysis from a Testing Laboratory Accredited by Health Canada Christina Lake Cannabis Corp. announced that one of its cannabis distillate oils has been certified to have a tetrahydrocannabinol (“THC”) concentration of 90.3% based on a certificate of analysis dated January 15, 2021 from a testing laboratory accredited by Health Canada. The Company recently announced its intent to primarily focus on producing cannabis distillate oils by extracting from its 2020 harvest of 32,500 kg/71,650 lb of biomass grown under natural sunlight. Additionally, the Company is planning to blend cannabis-derived terpenes with its distillate oils, a combination which has only recently been requested in the Canadian cannabis industry despite being relatively common in other markets. Announcement • Jan 14
Christina Lake Cannabis Corp. Produces First Ultra-High Potency Distillates and Commences Marketing to CPG Industry Christina Lake Cannabis Corp. announced that it is beginning to produce ultra-high potency cannabis distillate oils from its 32,500 kg /71,650 lb harvest of sun-grown cannabis cultivated during the Company’s inaugural growing season, which can enable the Company to form supplier relationships with consumer packaged goods manufacturers. Distillate oils, which typically contain tetrahydrocannabinol concentrations in excess of 90%, are generally used to add THC to consumable products as opposed to being directly consumed by a legal-aged end user. As an ingredient in a finished product, distillates can be likened to flour or granulated sugar in that they are not utilized as a standalone cannabis product, whereas products such as dried flower or winterized oil would commonly be used independently. Given the growing popularity of products under “Cannabis 2.0” that are made with cannabis oils, the Company anticipates that its ability to produce oils in commercial quantities could create opportunities to supply distillate to CPG manufacturers in Canada on a wholesale basis. Additionally, because CLC’s extraction machine (Vitalis R-200-H-GMP-SS) is CO2-powered, cannabis oils made by the Company could qualify for GMP certification, thereby potentially allowing its distillates to be sold in the European Union. Distillate produced by Christina Lake Cannabis is unique in the cannabis industry for two main reasons. Primarily, CLC’s vertically integrated cultivation, processing, and extraction operations allow the entire journey from seed to finished extract to occur on the same site, allowing for full control of and visibility into workflows as well as lower net costs. Secondarily, because the biomass from which the distillates are derived are proprietary cannabis strains that are grown outdoors under sunlight, CLC’s distillate oils have a unique texture that could improve usability in certain types of consumer products. At this time, the Company is pursuing supplier relationships with CPG manufacturers who could offer an enhanced experience to legal-aged consumers of cannabis through the addition of THC. Target CPG segments include food and beverage, cosmetic/personal care products, and vaporizer cartridges. Based on projected crop yields for the Company’s growing season in 2021 and the capacity of its Vitalis extraction machine, the Company predicts it can reliably produce commercial quantities of distillate oil that is of a consistent quality and suitable for CPG manufacturers to use in their products. Announcement • Jan 09
Christina Lake Cannabis Corp. Announces Executive Changes Christina Lake Cannabis Corp. announced that Salvatore Milia will be appointed to the Company’s Board of Directors after recently receiving clearance from Health Canada to enter this capacity. Additionally, the Company intends to launch a research and development (“R&D”) committee under the leadership of Mr. Milia whose background is in building large-scale information technology systems, an acumen that can be applied to CLC’s plans to incorporate smart monitoring technology into its vertically-integrated cannabis cultivation workflows. Having designed, implemented, and managed technical systems and networks for one of Canada’s first non-bank credit card gateways as well as for the Conservative Party of Canada, the Company’s management believes Mr. Milia’s experience with infrastructures in sensitive and highly regulated environments could help CLC in further improving its crop yields and consistency. Is New 90 Day High Low • Jan 08
New 90-day high: CA$0.88 The company is up 87% from its price of CA$0.47 on 09 October 2020. The Canadian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is up 60% over the same period. Announcement • Jan 05
Christina Lake Cannabis Corp. Commences Commercial Production of Winterized Cannabis Oil Christina Lake Cannabis Corp. announced that it has commenced commercial production of winterized cannabis oil as well as full-spectrum winterized cannabis oil, using crude oil extracted in-house from biomass grown by the Company during its inaugural grow season in 2020 in which 32,500 kg /71,650 lb of cannabis was cultivated outdoors. The Company's winterized cannabis oils contain a unique terpene profile which has potential applications in medicinal products. CLC currently continues its dealings with potential purchasers of its initial supply of cannabis oils. Samples of the Company's cannabis oils are to be shared with potential purchasers in the coming weeks. Terpenes play a significant role in the marketability of cannabis goods, largely due to their role in a product's aromatics as well as their ability to enhance the effects of cannabidiol ("CBD") and/or tetrahydrocannabinol creating what is referred to as the "Entourage Effect". Commonly, terpenes are also used as a diluent to reduce the viscosity of certain cannabis oils. The terpene profiles that are unique to CLC's proprietary strains of cannabis are considered to be desirable in the medicinal cannabis market. The non-invasive nature of cannabis extraction done using CO2 power also tends to allow for greater terpene yields. Based on an initial batch of oils extracted using the Company's CO2-powered Vitalis R-200-H-GMP-SS, the Company has observed an impressive concentration of terpenes. In a report by Deloitte, the Canadian market for products made with cannabis extracts was estimated to be worth approximately CAD 1.6 billion, or nearly 60% of the CAD 2.7 billion concentration, which is known as "distillate". Announcement • Dec 26
Christina Lake Cannabis Corp. Announces Produce First Batch of Cannabis-Derived Crude Oil Produced Using Its Vitalis R-200-H-GMP-SS Extraction System Christina Lake Cannabis Corp. announced that it has produced its first batch of cannabis-derived crude oil produced using its Vitalis R-200-H-GMP-SS extraction system, which was commissioned earlier this quarter as announced in the company's October 15, 2020 press release. The company selected the Vitalis System for extraction of its outdoor-grown cannabis due to its advantageous properties as a CO2-based extraction system, which include tunability and compliance with Good Manufacturing Practices. Within weeks of commissioning the company's Vitalis System, over 300 kg /660 lb of crude oil has been produced by CLC. CLC's objective is to provide a consistent supply of distillate and full-spectrum oils with terpenes derived from unique strains of cannabis grown outdoors by sunlight. With an objective of strengthening its extraction operations, the company has added two
extraction specialists to its team (profiled below), whose respective careers in resources and life sciences bring valuable experience and acumen to CLC as an integrated grower and producer of cannabis. With an objective of producing premium quality cannabis extracts in the form of full-spectrum
cannabis oil, distillates, isolates, and terpenes, CLC is confident that it will have the ability to maintain a robust rate of oil extraction from its exceptional 2020 harvest of cannabis, which could potentially be continued in subsequent growing seasons. Announcement • Dec 18
Christina Lake Cannabis Corp. Appoints Gil Playford to Board of Directors and Chairman of Audit and Finance Committee Christina Lake Cannabis Corp. announced that it has appointed Gil Playford, an internationally accomplished senior corporate executive and entrepreneur in the mining and resource sectors, to its Board of Directors as well as to the Chairman position of CLC's Audit and Finance Committee. Mr. Playford joins the Company's Board of Directors under the leadership of its Chairman Mervin Boychuk, a very successful entrepreneur in construction and waste management who was recently named to the Board of Directors earlier this year. Announcement • Dec 10
Christina Lake Cannabis Corp. announced that it expects to receive CAD 1.662 million in funding Christina Lake Cannabis Corp. (CNSX:CLC) announced a non-brokered private placement of 5,540,000 units at a price of CAD 0.30 per unit for gross proceeds of CAD 1,662,000 on December 9, 2020. Each unit consists of one common share and one half of one transferable Share purchase warrant. Each warrant entitles the holder thereof to purchase one additional share at a price of CAD 0.50 per share for a period of two years from the date of issuance. No finder’s fees have been paid In connection with the transaction. All securities issued in connection with the transaction will be subject to a four-month hold period under securities laws. Announcement • Oct 29
Christina Lake Cannabis Corp. Appoints Ryan Smith as Chief Financial Officer Christina Lake Cannabis Corp. announced the appointment of Ryan Smith as Chief Financial Officer 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. 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. Announcement • Oct 27
Christina Lake Cannabis Corp. Completes Inaugural Harvest Crop Exceeds Target by 44%, Reaching 32,500 Kg Christina Lake Cannabis Corp. announced 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. Announcement • Oct 16
Christina Lake Cannabis Completes Commissioning of Co2 Extraction Equipment Christina Lake Cannabis Corp. announced 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. 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. Announcement • Oct 15
Christina Lake Cannabis Corp. Appoints Mervin Boychuk to Board of Directors Christina Lake Cannabis Corp. announced the appointment of Mervin Boychuk as Non-Executive Chairman of CLC’s Board of Directors as well as an Independent Director of the Company. Mr. Boychuk was a founding member on CLC’s Advisory Committee, where he provided input and guidance to the company’s management team as CLC prepared to begin cultivation and production. Announcement • Oct 07
Christina Lake Cannabis Corp. Announces Executive Appointments Christina Lake Cannabis Corp. announced that they have hired Rob Jones as Executive Vice President of Business Development and Sales, and Milan Stefancik as Director of Sales & Marketing. CLC’s rapid growth has bolstered the Company’s efforts to carefully and strategically build a sales team with top-tier candidates that bring with them deep industry knowledge, experience and a proven track record of success. Mr. Jones has over 36 years of experience in trading agriculture commodities worldwide to the feed, oleochemical and energy industries. Mr. Jones was previously Director of Sales and Marketing for West Coast Reduction Ltd. and general manager for Wilbur Ellis Company of Canada from 1985-1995. Rob has sat on various Industry association boards over many years including the American Fats and Oils Association where he currently sits as past president and the Animal Nutrition Association of Canada Mr. Jones holds a Bachelor of Commerce Degree from the University of British Columbia. Mr. Stefancik previously worked as a Director, Key Accounts with Aurora Cannabis Enterprises where he initially managed the retail sales team of Alberta, the most developed market in Canada, and worked his way up to a national role managing key accounts. He also served as Sales Director for Central City Brewers & Distillers and was an Area Sales Manager with Bacardi and PMA. Mr. Stefancik earned a Bachelor of Commerce from Concordia University. Announcement • Oct 04
Christina Lake Cannabis Corp. Auditor Raises 'Going Concern' Doubt Christina Lake Cannabis Corp. filed its Annual on Mar 30, 2020 for the period ending Nov 30, 2019. In this report its auditor, Dale Matheson Carr-Hilton, gave an unqualified opinion expressing doubt that the company can continue as a going concern. 
