Christina Lake Cannabis Provides Financing Announcement

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VANCOUVER, British Columbia, Sept. 07, 2023 (GLOBE NEWSWIRE) — Christina Lake Hashish Corp. (CSE: CLC) (OTCQB: CLFFF) (FRANKFURT:CLB), (the “Firm” or “CLC” or “Christina Lake Hashish“), a number one producer of top quality extracts, superior merchandise and solar grown hashish, is happy to supply particulars concerning a proposed non-brokered non-public placement.

The Firm declares that it intends to finish a non-brokered non-public placement with gross proceeds of as much as $5,000,000 (the “Providing“). The Firm can be issuing convertible promissory notes (“Notes”) secured by land and buildings. The Notice bears curiosity at a price of 15% each year over a time period of 36 months (the “Time period“). Reimbursement of the Notice shall be within the type of curiosity solely funds for the primary 15 months and a blended principal and curiosity cost for the remaining Time period. Excellent principal and curiosity from the Notes can be convertible into frequent shares at a conversion value of $0.06 per frequent share throughout the Time period. The Firm shall even have the correct to redeem or repay the Notes at any time throughout the Time period. The proceeds from the Providing are anticipated for use for reimbursement of excellent debentures, working capital and basic company functions. The primary tranche of the Providing is anticipated to shut on or about September 11, 2023, or such different date or dates that the Firm could decide, topic to the receipt of all required regulatory approval, together with acceptance of the CSE. All securities issued in reference to the Providing can be topic to a maintain interval of 4 months and sooner or later from the deadline, in accordance with relevant Canadian securities legal guidelines.

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Sure administrators and officers of the Firm could purchase Notes below the Providing. Such participation can be thought-about to be a “associated celebration transaction” as outlined below Multilateral Instrument 61-101 – Safety of Minority Safety Holders in Particular Transactions (“MI 61-101“). The Firm anticipates counting on exemptions from the minority shareholder approval and formal valuation necessities relevant to the related-party transactions below sections 5.5(b) and 5.7(1)(b), respectively, of MI 61-101, as neither the truthful market worth of the Notes to be acquired by the collaborating administrators and officers nor the consideration to be paid by such administrators and officers is anticipated to exceed $2,500,000.

The securities issued below the Providing haven’t been and won’t be registered below the U.S. Securities Act of 1933, as amended, and have been to not be provided or offered in the US absent registration or an relevant exemption from the registration necessities. This information launch shall not represent a proposal to promote or the solicitation of a proposal to purchase nor shall there be any sale of the securities in the US or in some other jurisdiction during which such provide, solicitation or sale could be illegal.

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The Firm has additionally entered into an settlement for the acquisition of extra processing gear to meet rising demand for our high-quality out of doors flower. Beneath the settlement the Firm will buy $277,675 CAD (+HST) value of apparatus, with month-to-month repayments extending for 36 months, starting on October 15, 2023. Funds for the primary 15 months of the time period are curiosity solely, with blended principal and curiosity funds commencing after December 15, 2024.

About Christina Lake Hashish Corp.

Christina Lake Hashish is a licensed producer of hashish below the Hashish Act with a normal cultivation license and corresponding processing modification from Well being Canada in addition to a analysis and improvement license. Christina Lake Hashish’ facility consists of a 32-acre property, which incorporates over 950,000 sq. toes of outside develop area, places of work, propagation and drying rooms, analysis amenities, and a facility devoted to processing and extraction. Christina Lake Hashish additionally owns a 99-acre plot of land adjoining its principal website.  CLC focuses its manufacturing on creating prime quality extracts and distillate for its B2B shopper base with proprietary strains particularly developed for out of doors cultivation to reinforce extraction high quality.

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On behalf of Christina Lake Hashish:

“Mark Aiken”
Mark Aiken, CEO

For extra details about CLC, please go to: www.christinalakecannabis.com
Jennifer Smith
Investor Relations and Media Inquiries
invest@clcannabis.com
902-229-7265

THE CANADIAN SECURITIES EXCHANGE (“CSE”) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE, NOR HAS OR DOES THE CSE’S REGULATION SERVICES PROVIDER.

This Information Launch consists of sure “forward-looking statements” which aren’t comprised of historic info. Ahead-looking statements embody estimates and statements that describe the Firm’s future plans, goals or objectives, together with phrases to the impact that the Firm or administration expects a said situation or consequence to happen. Ahead-looking statements could also be recognized by such phrases as “believes”, “anticipates”, “expects”, “estimates”, “could”, “may”, “would”, “will”, “doubtless”, “most likely”, “usually”, or “plan”. Since forward-looking statements are primarily based on assumptions and tackle future occasions and situations, by their very nature they contain inherent dangers and uncertainties. Though these statements are primarily based on data at the moment accessible to the Firm, the Firm offers no assurance that precise outcomes will meet administration’s expectations. Dangers, uncertainties and different elements concerned with forward-looking data may trigger precise occasions, outcomes, efficiency, prospects and alternatives to vary materially from these expressed or implied by such forward-looking data. Ahead wanting data on this information launch consists of, however just isn’t restricted to, the scale of the Providing, the completion and phrases of the Providing, the usage of the proceeds from the Providing, the Firm’s goals, objectives or future plans, statements, harvesting outcomes, and estimates of market situations. Components that might trigger precise outcomes to vary materially from such forward-looking data embody future development potential of the Firm, fluctuations generally macroeconomic situations, fluctuations in securities markets, expectations concerning the scale of the long run harvest, the flexibility of the Firm to efficiently obtain its enterprise goals, plans for enlargement, incapability to acquire enough insurance coverage to cowl dangers and hazards and basic market situations. Extra elements and dangers together with numerous threat elements mentioned within the Firm’s disclosure paperwork which may be discovered below the Firm’s profile on http://www.sedar.com. Ought to a number of of those dangers or uncertainties materialize, or ought to assumptions underlying the forward-looking statements show incorrect, precise outcomes could range materially from these described herein as meant, deliberate, anticipated, believed, estimated or anticipated

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Though the forward-looking statements contained on this information launch are primarily based upon what administration of the Firm believes, or believed on the time, to be cheap assumptions, the Firm can not guarantee shareholders that precise outcomes can be per such forward-looking statements, as there could also be different elements that trigger outcomes to not be as anticipated, estimated or meant. Readers mustn’t place undue reliance on the forward-looking statements and data contained on this information launch. These statements converse solely as of the date of this information launch. The Firm assumes no obligation to replace the forward-looking statements of beliefs, opinions, projections, or different elements, ought to they modify, besides as required by regulation.

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