{"id":446367,"date":"2021-02-26T17:08:40","date_gmt":"2021-02-26T22:08:40","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=446367"},"modified":"2021-02-26T17:08:40","modified_gmt":"2021-02-26T22:08:40","slug":"christina-lake-cannabis-to-become-exclusive-developer-and-distributor-of-taat-and-beyond-tobacco-in-canada","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/christina-lake-cannabis-to-become-exclusive-developer-and-distributor-of-taat-and-beyond-tobacco-in-canada\/","title":{"rendered":"Christina Lake Cannabis to Become Exclusive Developer and Distributor of TAAT\u2122 and Beyond Tobacco\u2122 in Canada"},"content":{"rendered":"
\n

VANCOUVER, British Columbia, Feb. 26, 2021 (GLOBE NEWSWIRE) — Christina Lake Cannabis Corp. (the \u201cCompany\u201d or \u201cCLC\u201d or \u201cChristina Lake Cannabis\u201d) (CSE:CLC) (OTCQB: CLCFF) (FRANKFURT: CLB)<\/strong> is pleased to announce that it has entered into a memorandum of understanding (\u201cMOU\u201d) with TAAT\u2122 Lifestyle & Wellness Ltd. (\u201cTAAT\u2122\u201d) (CSE: TAAT) dated February 24, 2021 in which CLC is to develop and distribute the TAAT\u2122 nicotine-free and tobacco-free alternative to tobacco cigarettes for the Canadian market. The MOU grants CLC exclusive rights to develop and distribute TAAT\u2122 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. After TAAT\u2122 was first announced in mid-2020, considerable interest was received from legal-aged Canadian smokers who appear to be drawn to the unique properties of TAAT\u2122 as a tobacco-free and nicotine-free product, as well as its low price point compared to tobacco cigarettes (e.g.<\/em>, USD $3.99 for TAAT\u2122 in Ohio vs approx. USD $7.00 for Marlboro). The base material of TAAT\u2122 is known as Beyond Tobacco<\/em>\u2122, a proprietary hemp formulation which undergoes a 14-step process to taste, smell, and smoke similarly to actual tobacco. As Canadian law generally requires hemp products and derivatives to be produced, distributed, and sold through entities licensed by Health Canada, CLC\u2019s status as a Licensed Producer under the Cannabis Act<\/em> could enable TAAT\u2122 to be produced and sold in the Canadian market, where the tobacco industry is valued at CAD $19.1 billion1<\/sup>.<\/p>\n

Carried by tobacco retailers in Ohio as of December 2020, TAAT\u2122 has seen considerable success to date in the tobacco category in the United States. In a press release dated January 29, 2021 TAAT\u2122 announced that 60% of retailers who carried its products for three or more weeks had already placed reorders, a velocity regarded by the firm\u2019s Chief Revenue Officer Tim Corkum as an \u201coutlier\u201d in comparison to the dozens of tobacco brands he has launched in Canada and the Caribbean2<\/sup>. After launching the TAAT\u2122 online store on February 17, 2021, availing the product to the majority of smokers aged 21+ in the United States, TAAT\u2122 sold more than CAD $50,000 worth of product in 48 hours3<\/sup>. Although TAAT\u2122 ran digital advertising campaigns for its online store targeted towards smokers aged 21+ in the United States, more than 16% of all users visiting the TAAT\u2122 online store to date were from Canada. Based on this level of interest, TAAT\u2122 began to explore potential supplier relationships with a Licensed Producer in Canada, ultimately leading to its memorandum of understanding with the Company.<\/p>\n

Offered in Original<\/em>, Smooth<\/em>, and Menthol<\/em> varieties, TAAT\u2122 is engineered to mimic the experiential attributes of smoking a tobacco cigarette. Elements of TAAT\u2122 which contribute to this similarity include a cigarette-style combustible \u201cstick\u201d format, an enhanced volume of smoke, and a tobacco-like taste and smell.<\/p>\n

More information about TAAT\u2122 can be found on its website: http:\/\/taatglobal.com<\/a><\/u><\/p>\n

To view Picture 1 accompanying this release please visit:\u00a0
https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/72835fec-353b-4085-922c-5357814ad101<\/a><\/u><\/p>\n

\n Readers using news aggregation services may be unable to view the media above. Please access SEDAR or the<\/strong>
\n
\n Investor Relations<\/em>
\n <\/strong>
\n section of the Company\u2019s website for a version of this press release containing all published media.<\/strong>\n <\/p>\n

CLC\u2019s inaugural harvest in 2020 yielded 32,500 kg \/ 71,650 lb of sun-grown cannabis, which is primarily being extracted to produce winterized cannabis oils and distillates for the Canadian market. Although CLC does not presently cultivate hemp, which would be used to produce Beyond Tobacco\u2122 for the manufacture of TAAT\u2122, CLC has sourced multiple local growers who can supply high quality, toxin-free hemp biomass which is suited to the ideal composition of Beyond Tobacco\u2122, the base material of TAAT\u2122 products. As TAAT\u2122 continues its rollout in the United States, CLC believes that it could capitalize upon this momentum to strategically place TAAT\u2122 in authorized online retail and sales channels across Canada to capture the interest of legal-aged smokers who might desire a nicotine-free and tobacco-free alternative to tobacco cigarettes.<\/p>\n

Nicco Dehaan, Chief Operating Officer, Master Grower, and a director of the Company commented, \u201cWorking with TAAT\u2122 is a wonderful opportunity for us to branch out into the commercialization side of the cannabis and hemp industry, as a partner of a third-party firm. The Canadian environment for cannabis and hemp can be tricky to navigate, which creates barriers for players from outside of Canada when it comes to entering the market here. We believe TAAT\u2122 has created a novel product formulation which has clearly resonated well with smokers aged 21+ in the United States. Between our ability to develop and produce TAAT\u2122 and its Beyond Tobacco\u2122 base material for the Canadian market, as well as to distribute TAAT\u2122 through authorized sales channels, I believe that we can unlock a lot of value for both CLC and TAAT\u2122 as they work towards expanding into a new country for the first time.\u201d<\/p>\n

Setti Coscarella, Chief Executive Officer of TAAT\u2122 commented, \u201cLegal-aged smokers in Canada have shown a persisting interest in TAAT\u2122, despite the fact that we have not conducted any product advertising whatsoever here. In the consumer packaged goods (\u2018CPG\u2019) industry it is relatively common for firms to partner with local manufacturers in international markets for a variety of reasons (e.g.<\/em>, Hershey makes Cadbury chocolate in the United States), and I believe that working with CLC could help to expedite our planned entry into the Canadian market.\u201d<\/p>\n

\n Sources<\/u>\n <\/p>\n

1 – https:\/\/www.statista.com\/statistics\/488752\/forecasted-market-value-of-the-tobacco-industry-canada\/<\/u><\/a><\/p>\n

2 – https:\/\/www.globenewswire.com\/news-release\/2021\/01\/29\/2166840\/0\/en\/60-of-Tobacco-Retailers-who-Have-Carried-TAAT-for-Three-or-More-Weeks-Have-Placed-Reorders.html<\/u><\/a><\/p>\n

3 – https:\/\/www.globenewswire.com\/news-release\/2021\/02\/19\/2179100\/0\/en\/Following-E-Commerce-Launch-TAAT-Sells-More-than-CAD-50-000-of-Product-in-48-Hours.html<\/u><\/a><\/p>\n

\n About Christina Lake Cannabis Corp.<\/strong>\n <\/p>\n

Christina Lake Cannabis Corp. is a licensed producer of cannabis under the Cannabis Act<\/em>. 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\u2019s 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, which enables the Company to grow at a much larger scale. 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. Such an expansion will ultimately bring CLC\u2019s annual cultivation footprint to over 4.35 million square feet, which could enable at least 150,000 kg (330,693 lb) of low-cost, high-quality, sun-grown cannabis to be produced annually by the Company.<\/p>\n

\n On behalf of Christina Lake Cannabis Corp.:<\/strong>\n <\/p>\n

\n \u201cJoel Dumaresq\u201d<\/em>\n <\/p>\n

Joel Dumaresq, CEO and Director<\/p>\n

For more information about CLC, please visit: www.christinalakecannabis.com<\/u><\/a><\/p>\n

Jamie Frawley
Investor Relations and Media Inquiries
jamie@clcannabis.com<\/u><\/a>
416-268-9432<\/p>\n

THE CANADIAN SECURITIES EXCHANGE (\u201cCSE\u201d) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE, NOR HAS OR DOES THE CSE\u2019S REGULATION SERVICES PROVIDER.<\/p>\n

Forward-Looking Information: This news release includes certain statements that may be deemed \u201cforward-looking statements.\u201d The use of any of the words \u201canticipate,\u201d \u201ccontinue,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201cproject,\u201d \u201cshould,\u201d \u201cbelieve\u201d 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\u2019s disclosure documents which can be found under the Company\u2019s profile on http:\/\/www.sedar.com<\/u><\/a>.<\/p>\n

\n Statement Regarding Third-Party Investor Relations Firms<\/strong>\n <\/p>\n

Disclosures relating to investor relations firms retained by Christina Lake Cannabis Corp. can be found under the Company’s profile on http:\/\/sedar.com<\/u><\/a>.<\/p>\n

\u00a0<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

VANCOUVER, British Columbia, Feb. 26, 2021 (GLOBE NEWSWIRE) — Christina Lake Cannabis Corp. (the \u201cCompany\u201d or \u201cCLC\u201d or \u201cChristina Lake Cannabis\u201d) (CSE:CLC) (OTCQB: CLCFF) (FRANKFURT: CLB) is pleased to announce that it has entered into a memorandum of understanding (\u201cMOU\u201d) with TAAT\u2122 Lifestyle & Wellness Ltd. (\u201cTAAT\u2122\u201d) (CSE: TAAT) dated February 24, 2021 in which CLC is to develop and distribute the TAAT\u2122 nicotine-free and tobacco-free alternative to tobacco cigarettes for the Canadian market. The MOU grants CLC exclusive rights to develop and distribute TAAT\u2122 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 … <\/p>\n

Continue reading “Christina Lake Cannabis to Become Exclusive Developer and Distributor of TAAT\u2122 and Beyond Tobacco\u2122 in Canada”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-446367","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nChristina Lake Cannabis to Become Exclusive Developer and Distributor of TAAT\u2122 and Beyond Tobacco\u2122 in Canada - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/christina-lake-cannabis-to-become-exclusive-developer-and-distributor-of-taat-and-beyond-tobacco-in-canada\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Christina Lake Cannabis to Become Exclusive Developer and Distributor of TAAT\u2122 and Beyond Tobacco\u2122 in Canada - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"VANCOUVER, British Columbia, Feb. 26, 2021 (GLOBE NEWSWIRE) — Christina Lake Cannabis Corp. 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(the \u201cCompany\u201d or \u201cCLC\u201d or \u201cChristina Lake Cannabis\u201d) (CSE:CLC) (OTCQB: CLCFF) (FRANKFURT: CLB) is pleased to announce that it has entered into a memorandum of understanding (\u201cMOU\u201d) with TAAT\u2122 Lifestyle & Wellness Ltd. (\u201cTAAT\u2122\u201d) (CSE: TAAT) dated February 24, 2021 in which CLC is to develop and distribute the TAAT\u2122 nicotine-free and tobacco-free alternative to tobacco cigarettes for the Canadian market. The MOU grants CLC exclusive rights to develop and distribute TAAT\u2122 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 … Continue reading \"Christina Lake Cannabis to Become Exclusive Developer and Distributor of TAAT\u2122 and Beyond Tobacco\u2122 in Canada\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/christina-lake-cannabis-to-become-exclusive-developer-and-distributor-of-taat-and-beyond-tobacco-in-canada\/","og_site_name":"Market Newsdesk","article_published_time":"2021-02-26T22:08:40+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE2MTA0MyMzOTk5MTU4IzUwMDA2NDc3Mg==","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/christina-lake-cannabis-to-become-exclusive-developer-and-distributor-of-taat-and-beyond-tobacco-in-canada\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/christina-lake-cannabis-to-become-exclusive-developer-and-distributor-of-taat-and-beyond-tobacco-in-canada\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Christina Lake Cannabis to Become Exclusive Developer and Distributor of TAAT\u2122 and Beyond Tobacco\u2122 in Canada","datePublished":"2021-02-26T22:08:40+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/christina-lake-cannabis-to-become-exclusive-developer-and-distributor-of-taat-and-beyond-tobacco-in-canada\/"},"wordCount":1367,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/christina-lake-cannabis-to-become-exclusive-developer-and-distributor-of-taat-and-beyond-tobacco-in-canada\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE2MTA0MyMzOTk5MTU4IzUwMDA2NDc3Mg==","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/christina-lake-cannabis-to-become-exclusive-developer-and-distributor-of-taat-and-beyond-tobacco-in-canada\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/christina-lake-cannabis-to-become-exclusive-developer-and-distributor-of-taat-and-beyond-tobacco-in-canada\/","name":"Christina Lake Cannabis to Become Exclusive Developer and Distributor of TAAT\u2122 and Beyond Tobacco\u2122 in Canada - 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