Christina Lake Cannabis Further Strengthens Board of Directors and Management Team

 

VANCOUVER, British Columbia, Dec. 12, 2022 (GLOBE NEWSWIRE) -- Christina Lake Cannabis Corp. (CSE: CLC) (OTCQB: CLFFF) (FRANKFURT:CLB), (the “Company” or “Christina Lake”), a leading producer of high quality extracts and sun grown cannabis, today announced several changes to the Board of Directors and Management, including the appointment of Jay McMillan as Chairman of the Board of Directors, effective December 9, 2022, the transition of Mervin Boychuk to Director, the retirement of Rob Jones, and the promotion of Milan Stefancik to Vice President of Sales and Marketing.

“As Christina Lake continues to strengthen its position in the market, we are looking forward to the expertise and deep industry knowledge that Jay will bring to the role of Chairman,” said Mark Aiken, CEO of Christina Lake. “I would also like to take this opportunity to thank Mervin for his tireless work, dedication and vision in helping to stand up operations. As we continue to focus and execute on our sales strategy and diversification of our product offerings, I’m thrilled that Milan has accepted the newly created role as VP of Sales and Marketing.”

“I would like to thank the team at Christina Lake for their hard work in establishing the Company as an industry leader in producing high quality extracts and for developing such a strong foundation for us to continue to build on,” said Jay McMillan. “I’m excited for the opportunity to share my vision for future development with the team as we continue on the path of positive EBITDA and sustainable growth.”

Mr. McMillan joined the Company’s Board of Directors in March 2022. He brings an extensive background in the cannabis industry, new market development and strategic engagements with Fortune 500 organizations in the consumer packaged goods, technology, and consumer electronics spaces. Mr. McMillan spent over 7 years with leading licensed producer HEXO Corp, where he played a pivotal role in growing HEXO to be the top licensed producer in the country by market share. In his role, Mr. McMillan identified strategic business development opportunities, oversaw research and development, innovation, and commercialization.

Mr. McMillan will be replacing Mervin Boychuk, upon the completion of Mr. Boychuk’s two-year term as he transitions to Director on the CLC Board. Mr. Boychuk has had a successful 35-year career building, growing, and selling businesses. The Company wishes to thank Mr. Boychuk for his dedication and guidance over the last two years as Christina Lake has navigated the transition from an early start up to the next stage of its growth. His guidance has been instrumental in helping to position the Company as one of the country’s leading cannabis extractors through responsible capital deployment.

The Company would also like to announce the retirement of Rob Jones, President. Rob joined Christina Lake in 2020 and played a key role in standing up a strong operational base and navigating numerous challenges over the years. The Company would like to thank Mr. Jones and wishes him all the best in his retirement.

Christina Lake is pleased to announce that Milan Stefancik has been promoted to VP of Sales and Marketing. Mr. Stefancik brings with him over 10 years of sales and marketing experience, including a thorough understanding of the cannabis market and well-developed key relationships. Prior to his role at Christina Lake, he held the position of Director of Key Accounts at Aurora Cannabis.

About Christina Lake Cannabis Corp.
Christina Lake Cannabis is a licensed producer of cannabis under the Cannabis Act. It has secured a standard cultivation license and corresponding processing amendment from Health Canada (March 2020 and August 2020, respectively) as well as a research and development license (early 2020). Christina Lake Cannabis’ 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. Christina Lake Cannabis also owns a 99-acre plot of land adjoining its principal site. CLC focuses its production on creating high quality extracts and distillate for its B2B client base with proprietary strains specifically developed for outdoor cultivation to enhance extraction quality.

On behalf of Christina Lake Cannabis:

“Mark Aiken”
Mark Aiken, CEO

For more information about CLC, please visit: www.christinalakecannabis.com
Jennifer Smith
Investor Relations and Media Inquiries
invest@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 news release contains statements which constitute “forward-looking statements”, including the anticipated use of the proceeds of the Offering, statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to the future business activities and operating performance of the Company. The use of any of the words “anticipate,” “continue,” “estimate,” “expect,” “may,” “will,” “would,” “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 http://www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.