VANCOUVER, British Columbia, Feb. 17, 2020 (GLOBE NEWSWIRE) — Christina Lake Cannabis Corp. (the “Company” or “CLC” or “Christina Lake Cannabis”) announces today that Mr. Benjamin Asuncion has resigned as a director and Mr. Arie Prins has stepped down as President, Chief Executive Officer (“CEO”) and a director of the Company effective immediately. The board of directors has appointed Mr. Joel Dumaresq, Director and Chief Financial Officer as the Company’s interim-CEO to replace Mr. Prins.
Mr. Dumaresq has been active in Christina Lake Cannabis since the outset and will manage the Company through its planned public listing, pending Health Canada licensing, and planned cultivation and processing phases.Over the past 15 months, Mr. Prins oversaw the acquisition, buildout and construction of CLC’s 131-acre outdoor grow facility as well as the recent submission to Health Canada of the Company’s final evidence package in conjunction with its application for a Standard Cultivation License. Christina Lake Cannabis is also pleased to announce that Nicco Dehaan, a sizable investor in, and director of the Company since its founding, has agreed to assume the role of Chief Operating Officer of CLC. Mr. Dehaan is highly experienced in the industry having held for over seven years a license for the growing of medical Cannabis. Nicco will be responsible for overseeing all of CLC’s cultivation and processing operations along with expansion on the Company’s ‘131-acre owned-property’ and over ‘200 acre optioned-property’, once the necessary licenses have been secured.The Company further announces the immediate formation of an advisory committee to provide management with input and advice as the Company nears production. Christina Lake Cannabis is pleased to welcome Mr. Gil Playford and Mr. Mervin Boychuk to the Advisory Committee. Mr. Asuncion will remain involved with Christina Lake Cannabis as an advisor to the Company, and has chosen to vacate his Board position in order to make room on the Board for individuals with direct operational experience.Gil Playford, presently one of Christina Lake Cannabis’ largest shareholders with over a 10% ownership, is a seasoned senior mining executive and founder of LionOre Mining International, with nickel and gold assets in Africa and Australia. In 2007, Mr. Playford spearheaded the sale of LionOre Mining to Norislk Nickel for C$6.8 billion in cash. Mr. Playford started his professional career with Union Carbide Corp. for 25 years and various senior executive positions including Managing Director in Switzerland, Belgium and Germany. Mr. Playford also was the Chairman and CEO of Union Carbide Canada and Chief Financial Officer of Union Carbide in New York. He became Chairman and CEO of UCAR Carbon, a joint venture with Mitsubishi and took the partnership public as GrafTech International. Mr. Playford is presently Chairman and CEO of Bearing Lithium Corp. (BRZ-TSXV), a mineral and exploration development company listed on the Toronto Venture Stock Exchange (TSXV). Gil holds an Engineering Degree from McGill University in Montreal and a Master’s in Business Administration from York University in Toronto.Mervin Boychuk is a serial entrepreneur having founded, built, and sold four private businesses over his 35-year career. Mr. Boychuk joined South Rock Ltd, a private road construction company, in 1978 and subsequently became President & CEO in 1980. Under his guidance, the company grew from 20 employees to over 350, with annual revenues in excess of C$180 million, before subsequently selling to Aecon Group Inc. in 2009. During his tenure at South Rock, Merv co-founded RecycleWest, a waste oil collection and supply company, which was later sold to Newalta in 1995. In 1996, Merv co-founded EnviroWest which serviced the BC, Alberta, and Saskatchewan vacuum truck sludge and waste oil collection markets. EnviroWest was sold to GFL Environmental in 2010, a large waste management company which employs over 8,850 people. Merv is a significant shareholder in Christina Lake Cannabis and continues to be active in the family-owned waste treatment business in Calgary and Edmonton. Commented Joel Dumaresq, “I would like to personally thank Arie for his leadership during the construction of what we believe is Canada’s premier outdoor grow facility. As we await Health Canada approval of our cultivation application, and further as we prepare for our public listing, our operational capabilities have been greatly enhanced with the addition of Nicco, along with Gil and Merv, two highly-accomplished private entrepreneurs and operators.”About Christina Lake Cannabis Corp.Christina Lake Cannabis Corp is a late-stage applicant under the Cannabis Act, having submitted its Statement of Readiness and Evidence Package for a Standard Cultivation License, in addition to a Research and Development License. CLC’s facility is comprised of a 32-acre property, which includes over 870,000 square feet of outdoor grow space, offices, propagation and drying rooms. CLC plans to cultivate cannabis using strains specifically developed for outdoor cultivation and it is planning to produce up to 17,700 kg from its 32-acre facility before developing it’s adjoining 99-acre expansion property, which will bring it’s cultivation footprint to over 4.35 million square feet or over 88,000 kg of low-cost, high-quality, sun-grown cannabis annually.For more information about CLC, please visit: www.clcannabis.comNote Regarding Forward-Looking Information and StatementsForward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.comOn behalf of:“Joel Dumaresq”
CEO and Director
Canada’s Legal Cannabis Industry Advocates for Equitable Financial Treatment
Toronto, Ontario–(Newsfile Corp. – March 27, 2020) – The regulated cannabis industry has recently united to address a critical issue it has faced since its inception: a lack of equitable access to banking services and financial support. The fallout from the COVID-19 pandemic has highlighted the need to fix this while demonstrating that cannabis is an essential product.
We commend the individuals and organizations that have been vocal in their support for the cause: Don Davies (MP), Nathaniel Erskine-Smith (MP), Scott Reid (MP), Dan Sutton (Tantalus Labs), The Canadian Chamber of Commerce, and the Cannabis Council of Canada. Their lobby efforts have been directed towards the Business Development Bank of Canada (BDC), Bill Morneau P.C., M.P. (Minister of Finance), and Navdeep Bains P.C., M.P. (Minister of Innovation, Science and Industry), in an attempt to influence federal decision makers.
In solidarity, Alan Aldous has created an educational website to highlight the positive contributions to the Canadian economy, www.LegalTender.ca. We have also organized a coalition of industry experts, associations, and companies to advocate for change, including the Cannabis Council of Canada, NORML Canada, the British Columbia Independent Cannabis Association, the Ontario Independent Cannabis Association, the Alberta Cannabis Micro Licence Association, and The Cannabis Conservatory.
“The cannabis industry is doing its best to provide Canadians with an uninterrupted supply of legal cannabis, but it is not immune to the effects of COVID-19. Cannabis businesses deserve access to the same financial support being made available to other industries. Cannabis sector jobs are just as worthy of protection as any other,” says Trina Fraser, a prominent cannabis industry lawyer at firm Brazeau Seller Law.
In just one day, hundreds of Canadians have signed this urgent petition (https://bit.ly/2QKvwTQ) advocating for equitable treatment by the Business Development Bank of Canada (BDC) and Federal Government of Canada. We are thrilled by the response so far, and encourage hard-working Canadians to sign, share, and have their voices heard.
About Alan Aldous
Alan Aldous is a public relations agency for the emerging cannabis and psychedelics markets led by leading Canadian cannabis media professionals. The agency works with all the major newswire distribution services across North America, which makes transitioning to Alan Aldous easy for companies with existing PR efforts.
For media contact Alex Krause, Head Publicist, 519-835-8345, email@example.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/53883
REPEAT – AgraFlora Organics’ GTA Facility Receives Amendments Necessary to Launch CBD Business
VANCOUVER, British Columbia, March 27, 2020 (GLOBE NEWSWIRE) — AgraFlora Organics International Inc. (“AgraFlora” or the “Company”) (CSE: AGRA) (Frankfurt: PU31) (OTCPK: AGFAF) is pleased to announce its wholly owned subsidiary Sustainable Growth Strategic Capital Corp. (“SGSC”), a federally licensed cannabis company based in the Greater Toronto Area (GTA), has received Health Canada approval to commence extraction at its licensed facility pursuant to an amendment to its Standard Processing License. SGSC also holds Standard Cultivation and Medical Sales Licenses issued pursuant to the Cannabis Act.
SGSC has been actively engaged in the Canadian CBD business, working with partner farmers to optimize the harvest to hemp-crops to maximize the efficiency of subsequent CBD extraction. In March, SGSC commenced a trial extraction (the “Trial”) of hemp-biomass which will be extracted using third-party extraction services and sold as a combination of CBD Crude Oil, CBD Distillate and CBD Isolate to Canadian purchasers. If the Trial yields favourable results with respect to product quality, efficiency and margin SGSC intends to move quickly with a second production cycle of up to 1,300 KG of high-quality hemp biomass containing CBD concentrations over 8%.The current SGSC facility is designed to facility up to 250,000 kg of biomass extraction capacity utilizing chilled ethanol for primary extraction followed by distillation and/or isolation. SGSC intends to use the Trial and subsequent third party extraction cycles to properly design and size its in-house extraction capacity to maximize the profitability and return on capital invested. Once built, SGSC intends to improve its profitability by reducing the cost of extraction, purification and fulfilment by bringing those processes in-house. About AgraFlora Organics International Inc.AgraFlora Organics International Inc. is a growth oriented and diversified company focused on the international cannabis industry. It owns an indoor cultivation operation in London, ON and is a joint venture partner in Propagation Services Canada Inc. and its large-scale 2,200,000 sq. ft. greenhouse complex in Delta, BC. The Company is also retrofitting a 51,500-square-foot good manufacturing practice (“GMP”) edibles manufacturing facility in Winnipeg, Manitoba. AgraFlora has a successful record of creating shareholder value and is actively pursuing other opportunities within the cannabis industry. For more information please visit: www.agraflora.com.ON BEHALF OF THE BOARD OF DIRECTORSBrandon Boddy
Chairman & CEO
T: (604) 398-3147 The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.Forward-looking Information Cautionary StatementExcept for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the business plans for AgraFlora Organics described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com.
Israel Begins Cannabis Exports to Meet Unmet Medical Needs — CFN Media
Seattle, Washington–(Newsfile Corp. – March 27, 2020) – CFN Media (OTCQB: CNFN), the leading agency and financial media network dedicated to the legalized North American cannabis industry announces publication of an article discussing how Israel has shipped the first cannabis export to the UK, marking a new era in Israeli cannabis.
Israel has long been an international center for cannabis research. THC, the psychoactive ingredient in cannabis, and CBD, the plant’s predominant non-psychoactive ingredient, were first isolated and defined by Israeli researcher Dr. Raphael Mechoulam in the early 1960s. Research continued there in the following decades, and the Israeli government has contributed greatly to the country’s prominence in the global cannabis industry.
In Israel, medical cannabis is legal while recreational use remains technically illegal, though the government decriminalized recreational use to some extent in 2017. Government agencies provide funding for cannabis research. In January 2019, the government passed a law to allow exports of medical cannabis, though the first export was announced a year later in January 2020. With that recent development, the table appears set for growth in the Israeli cannabis market.
Click below to view more on Isracann Biosciences – Israel’s First Pure Play Cannabis Firm
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Unmet Need in Europe
BOL Pharma is the Israeli company that announced the first export from the country, with a shipment destined for centers that specialize in the treatment of children with epilepsy and autism in the United Kingdom. The company’s CEO, Dr. Tamir Gedo, stated, “This is truly welcome news and a real breakthrough for the Israeli medical cannabis market. The Israeli cannabis industry has a huge competitive edge in the global arena, compared to many countries trying to enter the cannabis sector… Further opening of the market to exports will enable Israel to become a world leader in the coming years.”
The UK legalized medical cannabis in late 2018. Since then, patients have had a hard time getting prescribed treatments in a timely fashion, with most of the supply coming from foreign countries but facing restrictive regulations. As a result, in early March 2020, the UK government announced a change in import restrictions designed to increase the flow of timely medicinal products to registered patients.
This dynamic is common throughout Europe, with countries adopting medical programs without the infrastructure, both regulatory and physical, to provide supply to its own patients. Israel, with its strategic location combined with governmental commitment to the industry, is in prime position to pick up some of the slack.
Isracann Biosciences Poised to Move
Isracann Biosciences Inc. (CSE: IPOT) (OTC: ISCNF) is an Israeli-based cannabis company poised to enter both the Israeli domestic and the European export cannabis markets. The company is advancing its fully-funded 230,000 sq ft hybrid greenhouse cultivation project while also advancing a partnership with a late stage project consisting of approximately 200,000 sq ft of greenhouses located on over 880,000 sq ft of agricultural land. In conjunction with the cultivation projects, Isracann is developing European distribution channels while ensuring that all aspects of its business, from cultivation through processing and manufacturing, comply with European Union GMP regulations necessary for international trade.
While laying the groundwork for an extensive European export operation, the company is certainly not foregoing the burgeoning domestic opportunity in Israel. The country, as of late 2019, had about 46,000 registered patients. Isracann expects this number to roughly double by the end of 2020, by which time the company hopes to be harvesting and distributing products.
The company recently announced a joint venture agreement with two near-term farm operations in the Sharon Plain region of Israel. The IMC-compliant farms operate under preliminary cannabis nursery and cultivation licenses and are preparing to commence planting within weeks with 160,000 sq. ft. of greenhouse canopy on two million sq. ft. of private land. The move paves the way for the company to ramp up sales faster than it expected and could help drive near- and long-term shareholder value.
In a recent two-part interview with CFN Media, Isracann Biosciences CEO Darryl Jones outlined the company’s strategy, assets, and partnerships. He talked about some of the advantages inherent in the Israeli market (ideal climate for cultivation, regulatory environment, advanced research, widespread domestic use, proximity to Europe, etc.).
CEO Video Interview #1
Click Below to View Video Interview #1: Isracann Biosciences CEO Darryl Jones
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Click Below to View Video Interview Part #2: Isracann Biosciences CEO Darryl Jones
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The very first medical cannabis shipment from Israel to the UK marks a new era in the promising Israeli cannabis industry. With the country’s government backing research and development efforts, as well as implementing rules to encourage growth of the industry both domestically and internationally, Israel has cemented its place as a leader for the global cannabis market. The year ahead promises to be pivotal for both the industry in general, and for Isracann Biosciences in particular as the company executes its vision of a comprehensive farm-to-consumer cannabis company. Keep an eye out as the plan unfolds.
Click here to read the full article: https://bit.ly/2QNGwA1
About CFN Media
CFN Enterprises Inc. (OTCQB: CNFN) is the owner and operator of CFN Media, the leading agency and digital financial media network dedicated to the legal cannabis industry.
For Visitors and Viewers
CFN Media’s Cannabis Financial Network (CannabisFN.com) is the destination for savvy investors and business people profiting from the worldwide cannabis industry. Viewers will see breaking news, exclusive content and original programming involving the people, companies and investments shaping the industry.
For Cannabis Businesses & Companies
CFN Media is a leading agency and financial media network dedicated to the cannabis industry. We help private, pre-public and public cannabis companies in the US and Canada attract capital, investors and media attention.
Our powerful digital media and distribution platform conveys a company’s message and value proposition directly to accredited and retail investors and national media active in the North American cannabis markets.
Since 2013, CFN Media has enabled the world’s preeminent cannabis companies to thrive in the capital and public markets.
Learn how to become a CFN Media client company, brand or entrepreneur: https://www.cannabisfn.com/become-featured-company/
The above article is sponsored content. CannabisFN.com and CFN Media, have been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/53879
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