Mr. Mark Aiken reports

CHRISTINA LAKE CANNABIS ANNOUNCES FINANCING

Christina Lake Cannabis Corp. has provided details regarding a proposed non-brokered private placement.

The company intends to complete a non-brokered private placement with gross proceeds of up to $2.5-million. The company will issue units at a price of five cents per unit, with each unit consisting of one common share in the capital of the company and one-half of one common share purchase warrant, exercisable for a term of 60 months at a price of 6.5 cents per share. The offering may include debt settlements for outstanding obligations of the company.

The first tranche of the offering is expected to close on or about April 30, 2025, or such other date or dates that the company may determine, subject to the receipt of all required regulatory approval, including acceptance of the Canadian Securities Exchange. All securities issued in connection with the offering will be subject to a hold period of four months and one day from the closing date in accordance with applicable Canadian securities laws.

Proceeds from the offering (other than the amount in connection with debt settlements) will be used toward construction of a new secured storage facility on premises, equipment purchases and general working capital purposes.

Certain directors and officers of the company may acquire units under the offering. Such participation will be considered to be a related-party transaction as defined under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company anticipates relying on exemptions from the minority shareholder approval and formal valuation requirements applicable to the related-party transactions under sections 5.5(b) and 5.7(1)(b), respectively, of MI 61-101, as neither the fair market value of the units to be acquired by the participating directors and officers, nor the consideration to be paid by such directors and officers is anticipated to exceed $2.5-million.

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. A 342-acre property which includes approximately 100 acres of licensed outdoor grow space, greenhouses and a dry room. Christina Lake Cannabis also owns a 99-acre plot of land adjoining its principal site. Christina Lake focuses its production on creating high-quality extracts and distillate for its business-to-business client base with proprietary strains specifically developed for outdoor cultivation to enhance extraction quality.

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