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
Facilities include 32-acre and 342-acre properties
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