Christina Lake Cannabis Corp. (CLCFF: OTCQB) | Christina Lake Cannabis Provides Business Update

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Christina Lake Cannabis Corp. (CLCFF: OTCQB) | Christina Lake Cannabis Provides Business Update

Christina Lake Cannabis Corp. Business Update for 2024

Key Highlights

  • Expanded cultivation footprint by approximately 100 acres with a new facility in Midway, British Columbia
  • Total harvest of approximately 105,000 kilograms of extraction-grade biomass and flower
  • Increased inventory value by 81% compared to the previous year

Financial Performance

  • Revenue increased by approximately 16%
  • Gross margin improved by 7.9%
  • Completed a private placement raising $3,108,375 in December 2024
  • Proactively reduced convertible debt by approximately $1,825,875

Strategic Achievements

  • No longer reliant on external biomass sources
  • Increased focus on higher-margin products like outdoor flower
  • Reduced general and administrative expenses by 5%

CEO Perspective

CEO Mark Aiken highlighted the successful expansion, noting the challenges of managing a significantly larger cultivation footprint and expressing optimism for growth in 2025.

Company Profile

Focuses on high-quality outdoor flower, extracts, and distillate for B2B clients

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Licensed cannabis producer with standard cultivation and processing licenses

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Facilities include 32-acre and 342-acre properties

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