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Christina Lake Cannabis ( (TSE:CLC) ) just unveiled an announcement.
Christina Lake Cannabis Corp. has sold a 99-acre parcel of non-core, unserviced land in Christina Lake, British Columbia, to an arm’s length third party for gross proceeds of $551,000. The land, deemed surplus to requirements following the company’s 2024 Midway acquisition, is not needed for current or planned operations, and its divestiture is intended to strengthen Christina Lake Cannabis’s balance sheet, enhance liquidity, and allow management to concentrate capital and attention on core operating assets, with proceeds earmarked for general working capital.
The most recent analyst rating on (TSE:CLC) stock is a Hold with a C$0.04 price target. To see the full list of analyst forecasts on Christina Lake Cannabis stock, see the TSE:CLC Stock Forecast page.
Spark’s Take on TSE:CLC Stock
According to Spark, TipRanks’ AI Analyst, TSE:CLC is a Neutral.
The overall stock score of 45 reflects significant challenges in financial performance, particularly in revenue growth and profitability. Technical analysis indicates a bearish trend, and valuation metrics are unattractive with a negative P/E ratio and no dividend yield. These factors collectively contribute to a lower stock score.
To see Spark’s full report on TSE:CLC stock, click here.
More about Christina Lake Cannabis
Christina Lake Cannabis Corp. is a licensed cannabis producer under Canada’s Cannabis Act, operating large-scale outdoor cultivation, processing, and research facilities in British Columbia. The company manages a 32-acre site with extensive outdoor grow space, processing and extraction operations, and R&D capabilities, as well as a 342-acre property with approximately 100 acres of licensed outdoor grow space, greenhouses, and drying infrastructure, supplying high-quality outdoor flower, extracts, and distillate to a B2B client base.
Average Trading Volume: 127,191
Technical Sentiment Signal: Sell
Current Market Cap: C$9.92M
Learn more about CLC stock on TipRanks’ Stock Analysis page.