Christina Lake Cannabis has completed a sale of its 99 acres of non-core land at 46 Ponderosa Drive in Christina Lake, British Columbia.
Pursuant to the sale of the Land, the Company sold the bare un-serviced Land to an arm's length third party for aggregate gross proceeds of $551,000.
The land is not required for the company's current or anticipated operations and was classified as a non-core asset following the Midway acquisition in February 2024, which provides sufficient land to support the company's long term objectives. The disposition of the land strengthens the company's balance sheet and enhances liquidity while allowing management to remain focused on its core operating assets. Proceeds from the Sale Transaction will be used for general working capital for the company.
For more information:
Christina Lake Cannabis
www.christinalakecannabis.com
