Christina Lake Cannabis announces repayment of Convertible Debenture
Christina Lake Cannabis Corp Repays $1,69M in Convertible Debentures, Bolstering Its Financial Position.
Christina Lake Cannabis Corp, a leading producer of high quality extracts, advanced products and sun grown cannabis, announced today that it has repaid the total principal amount due of $1.690 million under its 12% Unsecured Convertible Debentures due September 13, 2023 (the "Debentures"), the payment included outstanding interest due of $827,000. The repayment of the Debentures at maturity was financed primarily with the proceeds of the non-brokered private placement announced on September 7 and September 12, 2023.
About Christina Lake Cannabis Corp:
Christina Lake Cannabis is a licensed producer of cannabis under the Cannabis Act with a standard cultivation license and corresponding processing amendment from Health Canada as well as a research and development license. Christina Lake Cannabis' facility consists 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. Christina Lake Cannabis also owns a 99-acre plot of land adjoining its principal site. CLC focuses its production on creating high quality extracts and distillate for its B2B client base with proprietary strains specifically developed for outdoor cultivation to enhance extraction quality.