CLC Enters Sales and Marketing Phase Producing First Commercial Cannabis-Derived Crude Oil, and Introduces Two Extraction Spe...
December 23 2020 - 7:30AM
Christina Lake Cannabis Corp. (the “Company” or “CLC” or
“Christina Lake Cannabis”) (CSE:CLC) (FRANKFURT: CLB) is
pleased to announce that it has produced its first batch of
cannabis-derived crude oil produced using its Vitalis
R-200-H-GMP-SS extraction system (“Vitalis 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
(“GMP”). 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.
Timothy O’Donnell
- Head of Extraction: Mr. O’Donnell has had a career of
nearly three decades in oil separation, which consisted of founding
and operating an oilfield services business called Pedros Services
(merged into Crude Group Oilfield Services, and ultimately acquired
by Flint Resources), as well as acquiring and operating oil
separation firm Taber Water Disposal, and providing consultancy
services to cannabis firms on various oil extraction processes and
techniques. Through his knowledge of CO2 processing of cannabis,
Mr. O’Donnell has demonstrated a distinct ability to produce
consistent extractions that could be measured and used for
medications based on known values of the extracts.
Bhavana Rao -
Director of Extraction and Product Development:
Complementing her seven years of professional experience in
distillation, analytical testing, and product development, Ms. Rao
holds a Master’s Degree in Food Science from the University of
British Columbia and a Bachelor’s Degree in Chemical Engineering
from B.M.S. College of Engineering in Bangalore. Prior to entering
the cannabis space, Ms. Rao was a Manufacturing Technologist at
STEMCELL Technologies, a GMP-compliant biotechnology firm based in
Vancouver. Before joining CLC, Ms. Rao held R&D and extraction
roles at Blissco Cannabis Corp., developing cannabis products under
Health Canada regulations including products in the “Cannabis 2.0”
categories. In her new capacity at CLC, Ms. Rao will be responsible
for developing new processes and creating innovative formulations
for proprietary cannabis products.
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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/f7e94d7b-972d-4a5a-bce0-8dd7f1132ccf
Readers using news aggregation services may
be unable to view the media above. Please access SEDAR or
the Investor Relations section of
the Company’s website for a version of this press release
containing all published media.
Joel Dumaresq, Chief
Executive Officer and a Director of the Company commented, “The
global demand for cannabis extracts such as oils, distillates,
isolates, and terpenes is tremendous, especially for medicinal
applications. We believe that with CLC’s fully integrated
operations in cultivating, processing, and extracting outdoor-grown
cannabis using the Vitalis System which meets GMP standards, we
have the resources to capture much of this demand. By adding Mr.
O’Donnell and Ms. Rao to our team, I believe Christina Lake
Cannabis is all the more competitive as we work towards innovating
novel product offerings using extracts from our proprietary strains
of cannabis grown outdoors under sunlight here in Christina Lake,
British Columbia.”
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 FrawleyInvestor
Relationsjamie@clcannabis.com 416-268-9432
Jordan OwensMedia
Inquiriesjordan.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.
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