VANCOUVER, British Columbia, Nov. 13, 2026 (GLOBE NEWSWIRE) -- Christina Lake Cannabis Corp. (the “Company” or “CLC”) (CSE: CLC) (OTCQB: CLCFF) (FRANKFURT: CLB) announces that its Board of Directors has appointed Nicco Dehaan, the Company’s co-founder and Chief Operating Officer, as Chief Executive Officer, effective November 13, 2026. Mr. Dehaan succeeds Mark Aiken, who is moving on to pursue other opportunities.
The appointment follows the Board’s decision, announced November 10, 2026, that CLC will remain independent and pursue its standalone plan: a sharper focus on the cultivation and sale of cannabis flower, lower costs, increased cultivation capacity and continued debt repayment. With that plan centred on CLC’s farms, the Board believes the Company is best led by the executive who built and runs them.
Mr. Dehaan co-founded CLC and has served as a director since 2019. As COO and Master Grower, he has overseen cultivation, processing and production across the Company’s Christina Lake and Midway properties and has worked closely on sales and product strategy. He will continue to serve as Chief Operating Officer and as a director.
“Having chosen to remain independent, our priority now is execution – getting the most out of the land, facilities and people we already have,” said Jay McMillan, Chairman of the Board. “Nicco knows this business from the ground up. He helped build it, and he led the operations behind our strong harvest this year. He is the right person to take CLC into its next phase. On behalf of the Board, I thank Mark for his leadership over the past four years, and wish him every success.”
“I’m proud to lead the company I helped found,” said Mr. Dehaan. “We have excellent land, proven infrastructure and a team that delivered a strong harvest this year. My priorities are clear: grow more high-quality flower from the assets we already own, keep costs down, continue paying down debt and build value for our shareholders. I look forward to working with our team and the Board to get it done.”
About Christina Lake Cannabis Corp.
CLC is a licensed producer of cannabis under the Cannabis Act (Canada) with a standard cultivation licence and corresponding processing amendment from Health Canada as well as a research and development licence. CLC’s facilities consist 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, and a 342-acre property in Midway, British Columbia, which includes approximately 100 acres of licensed outdoor grow space, greenhouses, and a dry room. CLC focuses on the cultivation and sale of high-quality outdoor cannabis flower to its B2B client base.
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For more information about CLC, please visit: www.christinalakecannabis.com
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Cautionary Note Regarding Forward-Looking Information This news release includes certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws, which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives, priorities or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “intends”, “continue”, “priorities”, “may”, “could”, “would”, “will”, “likely”, “probably”, “often”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, statements regarding: the Company’s standalone plan and revised business model focused on the cultivation and sale of cannabis flower; the Company’s plans to lower costs, increase cultivation capacity and continue to repay debt; Mr. Dehaan’s priorities as Chief Executive Officer, including growing more high-quality flower from the Company’s existing assets, keeping costs down, paying down debt and building value for shareholders; the Board’s expectations regarding the leadership of the Company and the Company’s next phase; Mr. Dehaan’s continued service as Chief Operating Officer and director; the Company’s prospects and business outlook; and future harvests. Such forward-looking information is based on a number of material assumptions, including assumptions regarding the size and quality of future harvests, the demand for and pricing of cannabis flower, the Company’s ability to successfully execute its standalone plan and revised business model, the Company’s ability to increase cultivation capacity using its existing properties and facilities, the Company’s ability to manage and continue to reduce its indebtedness and operating costs, the continued availability of financing on acceptable terms, the Company’s ability to retain key personnel and to complete an orderly leadership transition, the absence of material adverse changes in the regulatory environment applicable to the Company, and general economic and market conditions. Factors that could cause actual results to differ materially from such forward-looking information include risks associated with the leadership transition and with Mr. Dehaan holding the roles of Chief Executive Officer and Chief Operating Officer at the same time, the Company’s dependence on key personnel, risks inherent in outdoor cultivation (including weather, pests and crop disease), the size of future harvests and cashflow generated from such harvests, fluctuations in pricing within cannabis markets, the availability and cost of capital required to increase cultivation capacity, the ability of the Company to successfully execute its standalone plan and achieve its business objectives, the ability of the Company to manage its indebtedness, regulatory changes, including changes affecting licences issued by Health Canada, inability to obtain adequate insurance to cover risks and hazards, fluctuations in general macroeconomic conditions, fluctuations in securities markets and general market conditions. Additional factors and risks include various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedarplus.ca. 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.
Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements contained in this news release. These statements speak only as of the date of this news release. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
