Christina Lake Cannabis Announces Financing

Core Viewpoint - Christina Lake Cannabis Corp. is initiating a non-brokered private placement to raise gross proceeds of up to $2,500,000, with the funds allocated for various operational needs including construction and equipment purchases [2][4]. Group 1: Offering Details - The private placement will issue units at a price of $0.05 per unit, each consisting of one common share and one half of a common share purchase warrant, with the warrants exercisable at $0.065 per share for 60 months [2]. - The first tranche of the offering is expected to close around April 30, 2025, pending regulatory approvals [3]. - All securities issued will be subject to a hold period of four months and one day from the closing date, in compliance with Canadian Securities laws [3]. Group 2: Use of Proceeds - Proceeds from the offering, excluding amounts for debt settlements, will be directed towards the construction of a new secured storage facility, equipment purchases, and general working capital [4]. Group 3: Related Party Transactions - Certain directors and officers may participate in the offering, which will be classified as a related party transaction under Multilateral Instrument 61-101 [5]. - The company plans to rely on exemptions from minority shareholder approval and formal valuation requirements, as the value of the units acquired by participating directors and officers is not expected to exceed $2,500,000 [5]. Group 4: Company Overview - Christina Lake Cannabis is a licensed cannabis producer in Canada, operating on a 32-acre property with over 950,000 square feet of outdoor grow space and additional facilities for processing and research [7]. - The company focuses on producing high-quality extracts and distillates for its B2B clients, utilizing proprietary strains developed for outdoor cultivation [7].