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Christina Lake Cannabis Announces Intention to Amend Debentures
Globenewswireยท 2025-08-26 00:03
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].