Citation Growth has closed on the sale of their 13 acres of land and buildings in Lynden, Washington to a confidential buyer for a total price of $2,500,000 USD.
"Our new management team's strategic review identified the Lynden property as a non-core asset," CEO Erik Anderson commented. "As communicated previously, we intended to sell it as part of our refocusing efforts on the Nevada and California markets. We are very pleased to have found a buyer so soon, especially in light of all the many business restrictions due to COVID-19. I'd like to thank our team for their tireless efforts towards this initiative and many others that we identified at our AGM in April."
Citation also holds a cannabis cultivation license for the state of Washington and is considering options to best optimize the license or sell it entirely.
In other news, Citation also announces that it has extended the LOI signed with Indigenomix on April 15, 2020 (amended June 15, 2020) for the sale of their 40 acres of land and buildings in Celista, BC. COVID-19 has caused delays for the transaction, which is now estimated to close on or before July 31, 2020.
For more information:
Citation Growth Corp.
citationgrowth.com