As a fully integrated producer of cannabis oil

VANCOUVER, British Columbia, Jan. 29, 2021 (GLOBE NEWSWIRE) - Christina Lake Cannabis Corporation (the "Company" or " CLC" or "Christina Lake ("CLC" or "Christina Lake Cannabis") (CSE: CLC) (Frankfurt: CLB) is pleased to announce that one of the Company's cannabis distillate oils has been certified as having a concentration of 90.3% tetrahydrocannabinol ("THC") according to a Certificate of Analysis authorized by Health Canada dated January 15, 2021 . The Company recently announced its intention to produce primarily hemp distillate oil by extracting 32,500 kg/ 71,650 lbs of biomass grown under natural sunlight from the 2020 harvest. Based on the market demand for distillate oil, which typically contains more than 90% tetrahydrocannabinol, the company believes that it is uniquely positioned to be a supplier of competitive distillate oil in the cannabis market. In addition, the company plans to blend cannabis-derived terpenes with its distillate

As a fully integrated producer of cannabis oil, the company is well positioned in the Canadian cannabis industry due to its control and visibility into the production chain. with a genetic database of over 100 proprietary cannabis strains and a total inventory of over 600,000 seeds, CLC began growing outdoors last spring at its Christina Lake, B.C. facility, which has more than 950,000 square feet / 88,258 square meters of outdoor growing space. After harvesting and processing the crops, the company will use a Vitalis R-200 CO2 extractor to extract oil from the dried biomass. This year, the company has successfully produced commercially available, distinct terpene characterized, marketed antifreeze cannabis oil that is widely used in recreational products under cannabis 2. (e.g. vape, food, topicals) as well as in pharmaceuticals.

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In CLC's January 13, 2021 press release, it was announced that the company began producing ultra-high efficiency cannabis distillate, samples of which are currently being independently evaluated by a third party for THC levels and other metrics. Distillate oil is not typically used as a standalone product, but rather as a product ingredient that can be enhanced by the addition of concentrated tetrahydrocannabinol (e.g., food and beverage, personal care, cosmetics). While the ability to produce cannabis distillate is not unique in itself, the company benefits from several advantages of being a fully integrated producer, allowing for reduced risk, above-average margins and enhanced regulation.

Cost of raw materials: The cost of growing cannabis naturally outdoors using sunlight is significantly lower compared to growing it in a greenhouse or indoors. Given the percentage of dried biomass required per milliliter of cannabis oil, even small differences between biomass costs can have a significant impact on the profitability of cannabis extract producers.

Robust supply: Since the exact yield of distillate oil from dried biomass is not always known, producers of cannabis extracts are often at risk of undersupply if yields are lower than expected. With the Company's first harvest of 32,500 kg/ 71,650 lbs of biomass, CLC has sufficient raw material supply to address this risk without a significant impact on profitability.

Extraction costs: Extraction is a function that cannabis producers typically outsource, a method that tends to be more costly compared to in-house extraction. The company owns its Vitalis R-200 Supercritical CO2 Extraction Machine and all ancillary equipment, and has extraction personnel. As a result, the company's relatively low extraction costs could prove advantageous in reducing the net cost of producing cannabis distillate oil at CLC.

Internal Visibility: Another drawback of outsourcing cannabis extraction to a third party is the lack of continuous visibility into the process. Observations made at each step of the process, from initial extraction to final distillation, are critical to ensuring a consistently high quality finished product, especially when controlling operational variables and the unique characteristics of specific strains.CLC's extraction workflow is designed to gather in-depth insights that can be collaboratively analyzed to make cultivation and business decisions based on observations of empirical data collected during the extraction process.

Joel Dumaresq, CEO and company director, said, "Our vision with Christina Lake Cannabis is not only to maximize the benefits that come from growing outdoors, but also to integrate it as much as possible into our internal operations so that we can do things that other licensed producers can't necessarily do. There are many moving parts to any produce, from the seeds to the environment in which they are grown, to the growing techniques, to the harvest, to the post-harvest activities (such as extraction). We strive to bring all of these in-house, which not only allows us to reduce costs, but also to oversee each step to ensure consistent quality. In working towards the first sale of cannabis extracts, it's clear that we've done a lot of things right that

About Christina Lake Cannabis Corp.

Christina Lake Cannabis Corp. is a cannabis producer licensed under the Cannabis Act. It has been granted a standard cultivation license and corresponding processing/marketing amendments from Health Canada (March 2020 and August 2020, respectively) and a research and development license (early 2020).CLC's facilities include 32 acres of land that includes over 950,000 square feet of outdoor growing space, offices, propagation and drying rooms, research facilities, and dedicated CLC also owns a 99-acre parcel adjacent to its main 32-acre site, which has allowed the company to grow on a larger scale. using strains developed specifically for outdoor cultivation to grow cannabis, CLC harvested 32,500 kilograms (71,650 pounds) of cannabis in its initial harvest year at its existing facility, and then developed an adjacent 99-acre of expanded properties.

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