Christina Lake Cannabis Announces Sale of Bare Land

Executive Summary

• Christina Lake Cannabis Corp. completed the sale of its 99‑acre non‑core land parcel at 46 Ponderosa Drive for gross proceeds of $551,000.
• The disposition removes a non‑essential asset, strengthens the balance sheet and provides additional liquidity for general working capital.
• Proceeds are earmarked to support ongoing operations and growth initiatives of the company’s core cannabis production assets.

Key Details

• Asset Sold: 99 acres of undeveloped land located at 46 Ponderosa Drive, Christina Lake, BC.
• Buyer: Arm’s‑length third party (identity not disclosed).
• Transaction Value: Aggregate gross proceeds of $551,000.
• Classification: The land was classified as a non‑core asset following the Midway acquisition in February 2024.
• Purpose of Sale: To enhance liquidity and focus management on core operating assets (cultivation, processing, R&D).
• Use of Proceeds: Allocated to general working capital for the Company.
• Impact: Improves balance‑sheet strength; no impact on current or anticipated operations as the land was not required for production.

Notable Quotes

“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.” – Mark Aiken, CEO