Christina Lake Cannabis announces entry into South African Market
March 23 2023 - 7:00AM
Christina Lake Cannabis Corp. (the “Company” or “CLC” or “Christina
Lake Cannabis”) (CSE: CLC) (OTCQB: CLCFF) (FRANKFURT: CLB) today
announced that the Company has signed a Supply Agreement with MG
BioTech Ventures (Pty) Limited, The Africann Group (“Africann”)
www.africann.net to supply custom formulations of medicinal
cannabis oils into the South African medical cannabis market.
“Today marks a significant milestone in our revenue growth and
product diversification strategy,” said Mark Aiken, Chief Executive
Officer of Christina Lake Cannabis. “As we have been focusing on
strategic diversification opportunities for our high-quality
cannabis products, we are pleased to announce this partnership with
one of South Africa’s leading medical cannabis companies. Our goal
is to combine our leading-edge technology with our expertise in
formulation and cannabinoid customization, to create new
value-added products for our customers. We believe that as the
industry matures, we have a unique opportunity to provide turnkey
product solutions that will allow our customers to optimize their
business by leveraging our high-quality cannabis products.”
“We are extremely excited about our exclusive supply agreement
with Christina Lake Cannabis,” Craig Ludwig, CCO of AfriCann said.
“By accessing their best-of-breed technologies and formulations and
as a result of their extremely economical production methodology,
AfriCann will be able to provide South African patients with
world-leading products at extremely cost-effective price
points.”
AfriCann is the first company to introduce legal access to
life-changing cannabis medicines to South African patients on a
national basis. Utilising existing medical regulations, the
AfriCann group has built a scalable ecosystem to manage every
aspect of the medical cannabis journey from patient education,
doctor training & consultation, prescription & titration,
distribution of trusted pharma-grade brands in multiple formats to
at-home delivery countrywide. They have built an integrated
cannabis ecosystem managing the entire doctor and patient
journey.
About Christina Lake Cannabis Corp.
Christina Lake Cannabis is a licensed producer of cannabis under
the Cannabis Act. It has secured a standard cultivation license and
corresponding processing amendment from Health Canada (March 2020
and August 2020, respectively) as well as a research and
development license (early 2020). Christina Lake Cannabis’ 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. Christina Lake Cannabis also owns a 99-acre plot of
land adjoining its principal site. CLC focuses its production on
creating high quality extracts and distillate for its B2B client
base with proprietary strains specifically developed for outdoor
cultivation to enhance extraction quality.
On behalf of Christina Lake Cannabis:
“Mark Aiken”Mark Aiken, CEO
For more information about CLC, please
visit: www.christinalakecannabis.com
Jennifer SmithInvestor Relations and Media
Inquiriesinvest@clcannabis.com902-229-7265
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.
This news release contains statements which constitute
“forward-looking statements”, including the anticipated use of the
proceeds of the Offering, statements regarding the plans,
intentions, beliefs and current expectations of the Company with
respect to the future business activities and operating performance
of the Company. The use of any of the words “anticipate,”
“continue,” “estimate,” “expect,” “may,” “will,” “would,” “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. Should one or more of these risks or
uncertainties materialize, or should assumptions underlying the
forward-looking statements prove incorrect, actual results may vary
materially from those described herein as intended, planned,
anticipated, believed, estimated or expected. The Company does not
intend, and does not assume any obligation, to update these
forward-looking statements except as otherwise required by
applicable law.
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