Christina Lake Cannabis Announces Acquisition Agreement and Financing
VANCOUVER, British Columbia, Feb. 05, 2024 (GLOBE NEWSWIRE) -- Christina Lake Cannabis Corp. (CSE: CLC) (OTCQB: CLCFF) (FRANKFURT:CLB), (the “Company” or “Christina Lake Cannabis” or “CLC”), a leading producer of high quality extracts and sun grown cannabis, today announced it has signed a definitive agreement ("Definitive Agreement") to acquire certain assets from a private British Columbia corporation (the "Vendor").
- VANCOUVER, British Columbia, Feb. 05, 2024 (GLOBE NEWSWIRE) -- Christina Lake Cannabis Corp. (CSE: CLC) (OTCQB: CLCFF) (FRANKFURT:CLB), (the “Company” or “Christina Lake Cannabis” or “CLC”), a leading producer of high quality extracts and sun grown cannabis, today announced it has signed a definitive agreement ("Definitive Agreement") to acquire certain assets from a private British Columbia corporation (the "Vendor").
- With this acquisition, the Company will expand its licensed outdoor cultivation footprint by approximately 100 acres.
- The Purchase Price for the proposed acquisition will be paid through the issuance of a secured convertible promissory note (“Note”).
- Additionally, the Company shall have the right to repay the Financing Notes at any time during the Term, together with prepayment of any remaining interest payable under the Financing Notes.