My #1 Cannabis Stock of 2021: Christina Lake (CLC) (CLCFF) (CLB) – January 15, 2021 – RICH TV LIVE – Christina Lake Cannabis Corp. (the “Company” or “CLC” or “Christina Lake Cannabis”) (CSE:CLC) (FRANKFURT: CLB) is pleased to announce 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 (“CPG”) manufacturers. Distillate oils, which typically contain tetrahydrocannabinol (“THC”) 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. #CHRISTINALAKE #PENNYSTOCKS #RICHTVLIVE
Joel Dumaresq, CEO and Director of Christina Lake Cannabis commented, “With the introduction of ‘Cannabis 2.0’ in Canada in 2019, many opportunities for incorporating THC into everyday products for adult consumers have emerged. While the potential applications of distillate are limitless, the distillate itself is a very hot commodity that is currently in limited supply. As a vertically integrated producer and extractor of cannabis, producing distillates is very much our strong suit. Because of this, we are prioritizing initiatives to supply distillates made by CLC to manufacturers of CPG products as a way of further diversifying our sales channels based on present market demand.”
Milan Stefancik, Director of Sales for the Company commented, “Here at CLC we have many advantages that make our cannabis products unique and competitive, including large-scale outdoor growing under sunlight, a fully integrated production facility, and the equipment to extract cannabis oils on-site. As demand for CPG products with THC continues to grow among legal-aged consumers, our ability to create distillates can enable us to become a key player in the wholesale trade. I anticipate many producers of CPG products will have an interest in distillates in 2021, and I look forward to exploring the many possible use cases for our distillate oils in the CPG industry.”
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