Christina Lake Hashish Supplies Enterprise Replace

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VANCOUVER, British Columbia, Jan. 31, 2025 (GLOBE NEWSWIRE) — Christina Lake Hashish Corp. (the “Firm” or “CLC” or “Christina Lake Hashish”) (CSE: CLC) (OTCQB: CLCFF) (FRANKFURT: CLB) is happy to supply the next enterprise replace.

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In 2023 the Firm recognized a must safe the provision chain of biomass and flower as a part of a method to fulfill rising buyer demand and permit for a lot wanted product and buyer diversification. To handle that want, the Firm acquired a brand new out of doors cultivation facility in Halfway, British Columbia as beforehand introduced on February 12, 2024.

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The rest of the yr was centered on making ready the ability and execution of the inaugural crop on the Halfway facility. The overall cultivation footprint elevated by roughly 100 acres which was difficult by way of assets required and there have been many classes realized. Regardless of these challenges the CLC workforce was capable of efficiently full the 2024 harvest.

“The 2024 crop is in and I’m proud to share our progress. Our efforts have been centered on the profitable execution of our growth plan which now contains two cultivation websites. The acquisition of the Halfway property offered some nice alternatives however was an enormous problem as nicely. I’m happy to say that the workforce did a very good job, and we had been capable of pull off a profitable crop at each websites.” mentioned Christina Lake CEO Mark Aiken.

The planting fashion and density was totally different than the Christina Lake web site with crops grown immediately in floor. The overall harvest from the Christina Lake and Halfway websites yielded roughly 105,000 kilograms of mixed weight in extraction grade biomass and flower. The rise in harvested mass contributed to the expansion in stock worth as at November 30, 2024 by roughly 81% in comparison with the prior yr. The rise in harvested mass required extra labour pressure and different assets for each the sphere preparation, planting, and fall harvest as evidenced within the improve in capitalized bills which elevated by roughly 100%. Along with ongoing distillate manufacturing, the Firm shall be dedicating elevated assets to grading and trimming flower to satisfy gross sales in 2025.

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“To offer a bit context round these challenges, we had 5 occasions the Cultivation footprint, preparation, and necessities to execute on our 2024 crop. We’re happy to have made this strategic transfer because it permits CLC to capitalize on the rising flower demand and secures our extraction enter biomass wants in a time when exterior feedstock provide is constrained, and the price of exterior enter biomass continues to extend.

Final yr CLC was required to buy biomass from outdoors sources to complement the beforehand introduced approximate 38,000 kg’s of biomass and flower harvested in 2023. With our growth, we’re now not reliant on exterior feedstock sources.” mentioned CEO Mark Aiken.

As reported within the monetary statements for the interval ending November 30, 2024 the corporate elevated income by roughly 16% with development largely pushed by merchandise produced from exterior feedstock sources. Value of Items Offered solely elevated by roughly 1% and consequently, gross margin improved by roughly 7.9% from the comparative interval in 2023. The improved margin was as a consequence of a shift in product combine with elevated gross sales of upper margin merchandise equivalent to out of doors flower.

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Complete Normal and administrative bills decreased by roughly 5% from the prior yr. The discount was primarily associated to a big lower in impairment taken in opposition to property, plant, and tools within the comparative interval. Notable will increase in different bills associated to growth included salaries rising by 41%, repairs and upkeep by 48%, and regulatory charges by 139%. A nasty debt expense of $324,074 was additionally acknowledged within the yr.

As beforehand introduced, the Firm accomplished the ultimate tranche of a non-brokered personal placement in December 2024 with gross proceeds of $3,108,375 by way of the issuance of 94,193,182 frequent shares within the providing. The proceeds had been for a mixture of working capital and settlement of excellent convertible debt of the Firm. The necessity for working capital was pushed by a mixture of the seasonality of the enterprise by which vital capital is entrance loaded in the direction of a single crop within the fall, mixed with extra capital required to develop and harvest the expanded footprint famous beforehand.

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As well as, the Firm had been carrying vital debt within the type of Convertible Debentures with massive debenture repayments upcoming in 2025. The Firm proactively settled debt by way of the issuance of frequent shares at a value equal to the concurrent personal placement, leading to roughly $1,825,875 of debt discount. As at November 30, 2024, the Firm was carrying $9,292,924 in Convertible Debenture liabilities. In 2025 the Firm will proceed to deal with decreasing debt ranges.

“We count on 2025 to be one other sturdy yr of development underpinned by this yr’s stable harvest numbers.” mentioned CEO Mark Aiken.

About Christina Lake Hashish Corp.

Christina Lake Hashish is a licensed producer of hashish beneath the Hashish Act with a typical cultivation license and corresponding processing modification from Well being Canada in addition to a analysis and improvement license. Christina Lake Hashish’ services include a 32-acre property, which incorporates over 950,000 sq. ft of outside develop area, places of work, propagation and drying rooms, analysis services, and a facility devoted to processing and extraction. A 342-acre property which incorporates roughly 100-acres of licensed out of doors develop area, inexperienced homes, and a dry room. Christina Lake Hashish additionally owns a 99-acre plot of land adjoining its principal web site. CLC focuses its manufacturing on creating top quality out of doors flower, extracts and distillate for its B2B consumer base.

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On behalf of Christina Lake Hashish:

“Mark Aiken”
Mark Aiken, CEO

For extra details about CLC, please go to: www.christinalakecannabis.com
Jennifer Smith
Investor Relations and Media Inquiries
traders@clcannabis.com
902-229-7265

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 Information Launch contains sure “forward-looking statements” which aren’t comprised of historic info. Ahead-looking statements embody estimates and statements that describe the Firm’s future plans, goals or targets, together with phrases to the impact that the Firm or administration expects a acknowledged situation or outcome to happen. Ahead-looking statements could also be recognized by such phrases as “believes”, “anticipates”, “expects”, “estimates”, “could”, “might”, “would”, “will”, “seemingly”, “most likely”, “usually”, or “plan”. Since forward-looking statements are primarily based on assumptions and handle future occasions and circumstances, by their very nature they contain inherent dangers and uncertainties. Though these statements are primarily based on data presently accessible to the Firm, the Firm offers no assurance that precise outcomes will meet administration’s expectations. Dangers, uncertainties and different elements concerned with forward-looking data might trigger precise occasions, outcomes, efficiency, prospects and alternatives to vary materially from these expressed or implied by such forward-looking data. Ahead wanting data on this information launch contains, however will not be restricted to, future crop sizes and anticipated yields, gross sales of flower and biomass, future harvest outcomes, future debt settlements or compensation of excellent money owed, the Firm’s goals, targets or future plans, statements, harvesting outcomes, and estimates of market circumstances. Elements that would trigger precise outcomes to vary materially from such forward-looking data embody future development potential of the Firm, fluctuations normally macroeconomic circumstances, fluctuations in securities markets, expectations concerning the dimensions of the longer term harvest, fluctuations on pricing inside hashish markets, the flexibility of the Firm to efficiently obtain its enterprise goals, plans for growth, lack of ability to acquire enough insurance coverage to cowl dangers and hazards and normal market circumstances. Extra elements and dangers together with numerous danger elements mentioned within the Firm’s disclosure paperwork which will be discovered beneath the Firm’s profile on http://www.sedarplus.ca. Ought to a number of of those dangers or uncertainties materialize, or ought to assumptions underlying the forward-looking statements show incorrect, precise outcomes could range materially from these described herein as meant, deliberate, anticipated, believed, estimated or anticipated

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Though the forward-looking statements contained on this information launch are primarily based upon what administration of the Firm believes, or believed on the time, to be cheap assumptions, the Firm can not guarantee shareholders that precise outcomes shall be in step with such forward-looking statements, as there could also be different elements that trigger outcomes to not be as anticipated, estimated or meant. Readers mustn’t place undue reliance on the forward-looking statements and data contained on this information launch. These statements converse solely as of the date of this information launch. The Firm assumes no obligation to replace the forward-looking statements of beliefs, opinions, projections, or different elements, ought to they alter, besides as required by legislation.

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