VANCOUVER – Christina Lake Cannabis Corp. (CSE: CLC) (FRANKFURT: CLB) (OTC: CLCFF) reported that it has received approval from OTC Markets Group Inc. for its shares to trade on the OTCQB® exchange beginning at market open on Thursday, February 18, 2021.
Companies listed on OTCQB must meet high financial standards and are subject to stringent standards of corporate governance and compliance with securities laws. CLC’s listing on OTCQB provides investors the opportunity to benefit from streamlined market standards which enhance the availability of information to the general public, enabling greater transparency.
Joel Dumaresq, Chief Executive Officer and a director of the Company commented, “Listing our shares on a U.S. exchange is an important part of our strategy as we actively explore opportunities to potentially expand into the United States in anticipation of pending changes to federal legislation which would stand to create new opportunities in the cannabis industry south of the border. Being promptly uplisted to OTCQB is a favourable development in terms of our position in the American capital markets, and also in terms of our accomplishments to date as a company.”
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. 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.
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