Vancouver, British Columbia – February 24, 2026 – TheNewswire - Pursuant to the early warning requirements of applicable Canadian securities laws, Salvatore Milia reports that he, has acquired ownership and direction or control on a direct and indirect basis over an additional 5,030,000 common shares (the “Common Shares”) of Christina Lake Cannabis Corp. (the “Company”) since the filing of an updated  early warning report dated December 12, 2025.Since the last early warning report, the Common Shares were a ...

Core Insights - Christina Lake Cannabis Corp. has completed the sale of 99 acres of non-core land for gross proceeds of $551,000, which will enhance the company's liquidity and strengthen its balance sheet [1] - The land was deemed non-essential for current or future operations following the Midway acquisition in February 2024, allowing the company to focus on its core assets [1] - Proceeds from the sale will be allocated for general working capital [1] Company Overview - Christina Lake Cannabis is a licensed cannabis producer under the Cannabis Act, holding a standard cultivation license and a research and development license from Health Canada [2] - The company's facilities include a 32-acre property with over 950,000 square feet of outdoor grow space and a 342-acre property with approximately 100 acres of licensed outdoor grow space [2] - The company specializes in producing high-quality outdoor flower, extracts, and distillate for its B2B client base [2]

Core Viewpoint - Salvatore Milia and the Milia 2008 Family Trust have increased their ownership in Christina Lake Cannabis Corp by acquiring an additional 5,440,541 common shares, reflecting a strategic investment approach in the company [1][2]. Share Acquisition Details - The additional common shares were acquired between April 30, 2025, and December 10, 2025, at prices ranging from $0.035 to $0.050 per share, totaling approximately $262,117.05 [2]. - Prior to these acquisitions, Mr. Milia and the Trust held 25,955,372 common shares, which represented about 13.82% of the 187,785,808 issued and outstanding shares on a non-diluted basis [2]. - Following the recent acquisitions, their total ownership has increased to 31,395,913 common shares, now representing approximately 12.65% of the 248,093,565 issued and outstanding shares on a non-diluted basis [3]. Investment Intent - The common shares were acquired for investment purposes, with Mr. Milia expressing a long-term view on the investment. He may adjust his shareholdings in the future based on market conditions and other circumstances [4].

Core Points - Christina Lake Cannabis Corp. has entered into a secured credit facility with a revolving line of credit of up to $1,500,000, with a term of two years and an interest rate of 15% per annum [1] - The company has also signed an equipment lease agreement with the same lender for a term of 18 months, with a monthly fee of $4,683.39 plus GST [2] - Both the credit facility and the lease agreement are considered related party transactions due to the lender being a director of the company, and the company is relying on exemptions from formal valuation and minority shareholder approval requirements [3] Company Overview - Christina Lake Cannabis is a licensed cannabis producer in Canada, holding a standard cultivation license and a research and development license from Health Canada [4] - The company's facilities include a 32-acre property with over 950,000 square feet of outdoor grow space, and a 342-acre property with approximately 100 acres of licensed outdoor grow space [4] - The company focuses on producing high-quality outdoor flower, extracts, and distillate for its B2B client base [4]

Group 1 - Christina Lake Cannabis Corp. has amended the terms of its convertible debentures totaling $710,000, with a new maturity date set for September 7, 2026 [1][2] - The interest rate on the debentures will remain unchanged, and repayments will now occur quarterly starting December 7, 2025, ensuring full repayment by the new maturity date [2] - Holders who did not enter into the amending agreements are expected to be repaid according to the original maturity dates of their debentures [2] Group 2 - Christina Lake Cannabis is a licensed cannabis producer under the Cannabis Act, with a standard cultivation license and a research and development license from Health Canada [3] - The company's facilities include a 32-acre property with over 950,000 square feet of outdoor grow space, and a 342-acre property with approximately 100 acres of licensed outdoor grow space [3] - Christina Lake Cannabis focuses on producing high-quality outdoor flower, extracts, and distillate for its B2B client base [3]

Core Viewpoint - Christina Lake Cannabis Corp. is amending the terms of $960,000 principal amount of convertible debentures to extend the maturity date by one year as part of a strategic financial optimization initiative [1][2]. Group 1: Debenture Amendments - The original maturity date of the debentures issued on September 7, 2022, and October 14, 2022, is being extended by one year, with the new maturity date set to be one year later [2]. - The interest rate on the debentures will remain unchanged, and repayment will begin on a quarterly basis starting December 7, 2025, ensuring full repayment by the new maturity date [2][3]. - The company is not in default under any of the debentures and is seeking approval from the holders of the debentures for these amendments [2][3]. Group 2: Company Overview - Christina Lake Cannabis is a licensed cannabis producer under the Cannabis Act, with a standard cultivation license and a research and development license from Health Canada [4]. - The company operates on a 32-acre property with over 950,000 square feet of outdoor grow space and additional facilities for processing and extraction [4]. - Christina Lake Cannabis focuses on producing high-quality outdoor flower, extracts, and distillate for its B2B client base [4].

Core Viewpoint - Christina Lake Cannabis Corp. (CLC) announced a delay in filing its annual financial statements for the fiscal year ended February 28, 2025, due to extended audit processes and resource limitations [1][2]. Group 1: Filing Delay - CLC will not file its annual financial statements by the prescribed deadline of June 30, 2025, due to the audit taking longer than expected [1][2]. - The delay is attributed to the high level of testing required and limited staff availability, particularly concerning inventory and biological assets [2]. - The increased production levels and new product lines following the Midway acquisition have complicated the costing and inventory allocation processes [2]. Group 2: Auditor and Compliance - CLC is collaborating with its auditor DMCL LLP to ensure timely submission of the annual filings, with an expected filing date no later than July 14, 2025 [3]. - The company has applied for a management cease trade order (MCTO) to prevent the CEO and CFO from trading in CLC securities until the filings are completed [3]. - The MCTO application is subject to the risk of not being successful, which could lead to further trading restrictions [3][4]. Group 3: Company Operations - CLC is a licensed cannabis producer with a focus on high-quality extracts and distillates, operating on a 32-acre property with over 950,000 square feet of outdoor grow space [5]. - The company has secured necessary licenses from Health Canada for cultivation, processing, and research and development [5]. - CLC's production strategy includes proprietary strains developed for outdoor cultivation to enhance extraction quality [5].

Core Viewpoint - Christina Lake Cannabis Corp. has successfully closed the first tranche of a non-brokered private placement, raising a total of CDN $1,138,910.55 through the issuance of units, which consist of common shares and warrants [1][2]. Group 1: Offering Details - The first tranche involved the issuance of 22,778,211 units at a price of $0.05 per unit, primarily as a debt settlement for existing convertible debenture holders [2]. - The offering is pending regulatory approval, including acceptance from the Canadian Securities Exchange (CSE), and all securities issued will be subject to a hold period of four months and one day [3]. - The company anticipates completing additional closings by May 30, 2025 [3]. Group 2: Related Party Transactions - Certain directors and officers subscribed for a total of 21,524,011 units, generating gross proceeds of $1,076,200.55, which qualifies as a related party transaction [4]. - The company plans to rely on exemptions from minority shareholder approval and formal valuation requirements due to the transaction's value not exceeding $2,500,000 [4]. Group 3: Company Overview - Christina Lake Cannabis is a licensed cannabis producer in Canada, with facilities covering 32 acres and over 950,000 square feet of outdoor grow space, focusing on high-quality extracts and distillates for B2B clients [6].

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].