Mr. Mark Aiken reports
CHRISTINA LAKE CANNABIS ANNOUNCES SALE OF BARE LAND
Christina Lake Cannabis Corp. has completed a sale of its 99 acres of non-core land at 46 Ponderosa Dr. in Christina Lake, B.C. Pursuant to the sale of the land, the company sold the bare unserviced 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.
About Christina Lake Cannabis Corp.
Christina Lake Cannabis is a licensed producer of cannabis under the Cannabis Act with a standard cultivation licence and corresponding processing amendment from Health Canada, as well as a research and development licence. Christina Lake Cannabis's facilities consist of a 32-acre property, which includes over 950,000 square feet of outdoor grow space, offices, propagation and drying rooms, research facilities, and a facility dedicated to processing and extraction, and 342-acre property, which includes approximately 100 acres of licensed outdoor grow space, greenhouses and a dry room. Christina Lake focuses its production on creating high-quality outdoor flower, extracts and distillate for its business-to-business client base.
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