VANCOUVER, British Columbia, March 26, 2021 (GLOBE NEWSWIRE) — Christina Lake Cannabis Corp. (the “Company” or “CLC” or “Christina Lake Cannabis”) (CSE:CLC) (OTCQB: CLCFF) (FRANKFURT: CLB) is pleased to announce that Salvatore Milia has been appointed to the Company’s Board of Directors, effective immediately. In a press release dated January 8, 2021, CLC announced that Mr. Milia had received clearance from Health Canada to enter this capacity with the official appointment pending, which was finalized this week. Mr. Milia is currently leading the Company’s research and development committee that was recently formed under his leadership. Mr. Milia has a background 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 a major Canadian political party, 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 while maintaining compliance with all applicable regulations.
In a press release dated February 26, 2021, CLC announced that it had entered into a memorandum of understanding (“MOU”) with TAAT™ Lifestyle & Wellness Ltd. (“TAAT™”) (CSE: TAAT) in which the Company is to become the exclusive developer and distributor of TAAT™’s tobacco-free and nicotine-free alternative to tobacco cigarettes. CLC has assigned Mr. Milia to lead research and development efforts relating to the Company’s production of TAAT™ and its Beyond Tobacco™ base material for the Canadian market. This responsibility is expected to include tasks such as collaborating with TAAT™’s research and development team in Las Vegas, NV, performing an analysis of the Canadian market for alternatives to tobacco cigarettes, and preparing compliance-related documentation for submission to Health Canada and other agencies.
More information about TAAT™ can be found on its website: http:///taatglobal.com.
The Company also announces that Mr. Jason Taylor has resigned from its Board of Directors effective immediately. The Company wishes to thank Mr. Taylor for his contributions to the Company during its early years and wishes him well with his future endeavours.
Joel Dumaresq, Chief Executive Officer and a Director of the Company commented, “We are thrilled to announce Mr. Milia’s appointment to our Board of Directors and look forward to tapping into his technological and systems management expertise to optimize and automate certain aspects of our crop development to consistently produce top-quality sun-grown cannabis. With the addition of TAAT™ as a partner for whom we intend to produce their product line for the Canadian market, we are pleased to have Mr. Milia’s acumen on our side as we seek to add another exciting dimension to our business model.”
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, CEO and Director
For more information about CLC, please visit: www.christinalakecannabis.com
Investor Relations and Media Inquiries
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
Disclosure relating to investor relations firms retained by Christina Lake Cannabis Corp. can be found under the Company’s profile on http://sedar.com.