Growing legalization of cannabis in various countries, preference for cannabis oil and tinctures, and adoption of medical marijuana for treating chronic diseases like arthritis, anxiety, and Alzheimer’s are the major factors propelling the growth.
The full spectrum cannabis extracts dominated the market in 2019, with a revenue of USD 4.3 billion, owing to the added advantage of the entourage effect.
As the Company has now consistently maintained potency levels in the 90% range for the distillate oils it produces, CLC’s management is confident that it could continue supplying to the Purchaser on an ongoing basis, with the opportunity to provide greater quantities as needed.
In a press release dated January 13, 2021, the Company announced it was beginning to produce its first ultra-high potency distillate oils, which typically contain tetrahydrocannabinol concentrations of 90% or greater and are used as ingredients in a product formulation as opposed to being used as a standalone cannabis product.
After its inaugural growing season, Christina Lake Cannabis has made its first sale for a commercial quantity of distillate oil in the amount of CAD $129,000.
Curaleaf Holdings, Inc.
Also as part of the opening celebration, Curaleaf Maine is making a contribution to Black Owned Maine Family Relief Program, which helps cover the cost of necessities including rent, electricity, food, heat, transportation, and daycare for community members who need support.
Fourth Quarter and Full Year 2020 Financial Results: Total revenue in the fourth quarter was $69.9 million, an increase of 85% from $37.8 million in the fourth quarter of 2019, and up 13% compared to $61.6 million in the third quarter of 2020.
, a leading and top-performing cannabis company in the United States, recently announced it has been named a winner of a Silver Stevie® Award for Achievement in Growth in the 19th Annual American Business Awards®.
“We look forward to completing the remaining steps required to close the Transaction and are excited to begin our work with the Cultivate team later this year,” said Charles Bachtell, CEO of Cresco Labs.
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