Christina Lake Cannabis has completed the first part of a private sale of units without using a broker. Each unit includes one common share of the company and half of a common share purchase warrant. The total amount raised in this first part is CDN $1,138,910.55.
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.
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. Christina Lake Cannabis expects to complete additional closing or close on or prior to May 30, 2025.
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