Christina Lake Cannabis has provided details regarding a proposed non-brokered private placement.
The Company announces that it intends to complete a non-brokered private placement with gross proceeds of up to $2,500,000. The Company will be issuing units at a price of $0.05 per Unit, with each Unit consisting of one common share in the capital of the Company and one half of one common share purchase warrant, exercisable for a term of 60 months at a price of $0.065 per Share. The Offering may include debt settlements for outstanding obligations of the Company.
The first tranche of the Offering is expected to close on or about April 30, 2025, or such other date or dates that the Company may determine, 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 closing date, in accordance with applicable Canadian Securities laws.
Proceeds from the Offering (other than the amount in connection with debt settlements) will be used towards construction of a new secured storage facility on premises, equipment purchases, and for general working capital purposes.
The securities issued under the Offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and were not to be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
For more information:
Christina Lake Cannabis
www.christinalakecannabis.com