Business
Christina Lake Cannabis Closes First Tranche of Non-Brokered Private Placement
VANCOUVER, British Columbia, April 30, 2025 (GLOBE NEWSWIRE) -- Christina Lake Cannabis Corp. (the “Company” or “CLC” or “Christina Lake Cannabis”) (CSE: CLC) (OTCQB: CLCFF) (FRANKFURT: CLB) further to the press release dated April 23, 2025, the Company is pleased to announce that it has closed the first tranche (the “First Tranche”) of a non-brokered private placement of units ("Units"), with each Unit consisting of one common share in the capital of the Company (each a “Share”) and one half of
About this update from Christina Lake Cannabis Corp
[{"type":"image","alt":"Christina Lake Cannabis Corp.","displaySize":"","headline":null,"caption":"Christina Lake Cannabis Corp.","className":"","disableSlideshowImg":false,"size":{"original":{"width":200,"height":179,"url":"https://media.zenfs.com/en/globenewswire.com/28a08ce6db96063365c3ef45f40175cf"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/.z6dxxT.9DrUUckcM2ef3g--/YXBwaWQ9aGlnaGxhbmRlcjt3PTM2MDtoPTMyMjtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/28a08ce6db96063365c3ef45f40175cf","width":200,"height":179}},"lazy":false},{"type":"text","content":"VANCOUVER, British Columbia, April 30, 2025 (GLOBE NEWSWIRE) -- Christina Lake Cannabis Corp. (the “Company” or “CLC” or “Christina Lake Cannabis”) (CSE: CLC) (OTCQB: CLCFF) (FRANKFURT: CLB) further to the press release dated April 23, 2025, the Company is pleased to announce that it has closed the first tranche (the “First Tranche”) of a non-brokered private placement of units ("Units"), with each Unit consisting of one common share in the capital of the Company (each a “Share”) and one half of one common share purchase warrant (each whole warrant a "Warrant"), in the principal amount of CDN $1,138,910.55 (the “Offering”).","length":651,"tagName":"p"},{"type":"text","content":"The Company issued 22,778,211 Units at a price of $0.05 per Unit under the closing of the first tranche, which were in the form of a debt settlement of principal and accrued interest due to the existing convertible debenture holders. No finders’ fees were paid in connection with the first closing of the Offering.","length":314,"tagName":"p"},{"type":"text","content":"The Offering is subject to the receipt of all required regulatory approval, including acceptance of the CSE. All securities issued in connection with the Offering will be subject to a hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws. The Company expects to complete additional closing or closing on or prior to May 30, 2025.","length":396,"tagName":"p"},{"type":"text","content":"Certain directors and officers of the Company subscribed for an aggregate of 21,524,011 of Units and gross proceeds of $1,076,200.55 under the first tranche of the Offering. Such participation will be considered to be a "related party transaction" as defined under Multilateral Ins...