RE:Christina Lake Cannabis MD&Anewcoin wrote: Christina Lake Cannabis Corp.
Management’s Discussion and Analysis
For the nine-months ended August 31, 2021
Page 4 of 21
HIGHLIGHTS (Continued)
• On March 18, 2021, the Company announced the appointment of Rob Jones, an accomplished global trader of agriculture commodities, as the President of CLC to lead its commercialization efforts beginning in 2021 as the Company seeks to introduce its dried cannabis biomass and extracts to the market following an exceptionally successful inaugural harvest.
• On February 24, 2021, the Company announced it has entered in a memorandum of understanding (“MOU”) with TAAT Lifestyle & Wellness Ltd. in which the Company is to develop and distribute the TAAT nicotine-free and tobacco-free alternative to tobacco cigarettes for the Canadian market
• On February 18, 2021, the Company announced it received approval from OTC Markets Group Inc. (“OTCM”) for its shares to trade on the OTCQB exchange (“OTCQB”).
• The Company also has on hand a full state of ancillary equipment enabling its extraction team to take production through to the distillate and isolate phases.
• The Company’s state-of-the-art extraction machinery, provides for high throughput capacity and substantial capacity to carry out the Company’s organic and aggressive expansion strategy.
• The majority of the Company’s harvest will be refined into full spectrum oil, distillates, and isolates to be sold in the wholesale markets,
• As the region’s largest employer, the Company’s team has expanded to over 30 full-time staff members and seasonal workers.
• On its 32-Acre site, the Company has commenced harvest of over 22,500 cannabis plants consisting of eight cannabis strains. Many plants are showing high yields, with some presently over eight feet tall.
The total harvest for 2020 was completed in October yielding 32,500 kg of dried Cannabis, with growth in production expected for 2021 and beyond.
• On October 01, 2020, the Company commenced trading on the CSE under the ticker symbol “CLC”.
• On May 20, 2020, the Company received a Research and Development License from Health Canada.
On September 11, 2020, the Company received approval on a Processing License Amendment from Health Canada.
• On March 27, 2020 the Company was granted its Standard Cultivation License (“SCL”) from Health Canada for the Company's 32-acre phase I facility. This license authorizes the cultivation and sale of cannabis under the Cannabis Act and provides the Company with over 950,000 sf of licensed outdoor cultivation space.
For those who didn't know this, the MOU grants to CLC exclusive and renewable rights for a two-year term, as described in CLC's news release:
The MOU grants CLC exclusive rights to develop and distribute TAAT in Canada for a two-year renewable term, and provides for budgets, schedules, and contributions of both parties for each stage of product development to be agreed upon by way of written agreements to set out specific stipulations for each stage.