Latest news with #ChristinaLakeCannabis
Associated Press
05-07-2025
- Business
- Associated Press
Christina Lake Cannabis Announces Filing of Audit Financial Statements
VANCOUVER, British Columbia, July 04, 2025 (GLOBE NEWSWIRE) -- Christina Lake Cannabis Corp. ('CLC' or the 'Company') (CSE: CLC) is pleased to confirm that further to its news release dated July 2, 2025, the Company has filed on SEDAR+ its audited financial statements, accompanying management discussion and analysis and related CEO and CFO certifications for the year ended February 28, 2025 (the 'Annual Filings'). The Annual Filings can be obtained on the Company's SEDAR+ profile at As a result of the completion of the Annual Filings, the Company expects that the management cease trade order formerly granted on July 2, 2025, by the applicable securities regulatory authorities, will be revoked and that the Company's directors and officers will once again be permitted to trade in the Company's securities. ABOUT CLC Christina Lake Cannabis is a licensed producer of cannabis under the Cannabis Act. It has secured a standard cultivation license and corresponding processing amendment from Health Canada (March 2020 and August 2020, respectively) as well as a research and development license (early 2020). 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. For more information about CLC, please visit: Jennifer Smith Investor Relations and Media Inquiries [email protected] 902-229-7265 Forward Looking Information and Risk Factors This news release contains statements and information that may constitute 'forward-looking information' within the meaning of applicable securities legislation, including statements identified by the use of words such as 'will', 'expects', 'positions', 'believe', 'potential' and similar words, including negatives thereof, or other similar expressions concerning matters that are not historical facts. Such forward-looking information is not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or may contain statements that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'will continue', 'will occur' or 'will be achieved'. The forward-looking information contained herein may include, but is not limited to, statements regarding the Company's expectations that the completion of the Annual Filings will satisfy its continuous disclosure obligations; and that, as a result, the management cease trade order granted on July 2, 2025, will be revoked and directors and officers of the Company will be permitted to trade securities of the Company. By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. Some of these risks include, but are not limited to, the risk that the Annual Filings do not meet applicable regulatory requirements, that the cease trade order is not revoked as expected, and that trading by directors and officers remains restricted for longer than anticipated. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. In connection with the forward-looking information contained in this news release, the Company has made certain assumptions. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information contained in this news release are made as of the date of this news release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this notice.
Yahoo
05-07-2025
- Business
- Yahoo
Christina Lake Cannabis Announces Filing of Audit Financial Statements
VANCOUVER, British Columbia, July 04, 2025 (GLOBE NEWSWIRE) -- Christina Lake Cannabis Corp. ("CLC" or the "Company") (CSE: CLC) is pleased to confirm that further to its news release dated July 2, 2025, the Company has filed on SEDAR+ its audited financial statements, accompanying management discussion and analysis and related CEO and CFO certifications for the year ended February 28, 2025 (the 'Annual Filings'). The Annual Filings can be obtained on the Company's SEDAR+ profile at As a result of the completion of the Annual Filings, the Company expects that the management cease trade order formerly granted on July 2, 2025, by the applicable securities regulatory authorities, will be revoked and that the Company's directors and officers will once again be permitted to trade in the Company's securities. ABOUT CLC Christina Lake Cannabis is a licensed producer of cannabis under the Cannabis Act. It has secured a standard cultivation license and corresponding processing amendment from Health Canada (March 2020 and August 2020, respectively) as well as a research and development license (early 2020). 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. For more information about CLC, please visit: Jennifer SmithInvestor Relations and Media Inquiriesinvestors@ 902-229-7265 Forward Looking Information and Risk Factors This news release contains statements and information that may constitute "forward-looking information" within the meaning of applicable securities legislation, including statements identified by the use of words such as "will", "expects", "positions", "believe", "potential" and similar words, including negatives thereof, or other similar expressions concerning matters that are not historical facts. Such forward-looking information is not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information contained herein may include, but is not limited to, statements regarding the Company's expectations that the completion of the Annual Filings will satisfy its continuous disclosure obligations; and that, as a result, the management cease trade order granted on July 2, 2025, will be revoked and directors and officers of the Company will be permitted to trade securities of the Company. By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. Some of these risks include, but are not limited to, the risk that the Annual Filings do not meet applicable regulatory requirements, that the cease trade order is not revoked as expected, and that trading by directors and officers remains restricted for longer than anticipated. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. In connection with the forward-looking information contained in this news release, the Company has made certain assumptions. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information contained in this news release are made as of the date of this news release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this notice.
Yahoo
03-07-2025
- Business
- Yahoo
Christina Lake Cannabis Announces Delay in Filing its 2024 Annual Financial Statements
VANCOUVER, British Columbia, July 03, 2025 (GLOBE NEWSWIRE) -- Christina Lake Cannabis Corp. ("CLC" or the "Company") (CSE: CLC) announced today that it will not be filing its annual financial statements, accompanying management's discussion and analysis and related chief executive officer ("CEO") and chief financial officer ("CFO") certifications for the financial year ended February 28, 2025 (collectively, the "Annual Filings"), within the period prescribed for the filing of such documents under Parts 4, 5 and 6 of National Instrument 51-102 Continuous Disclosure Obligations and pursuant to National Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings, namely within 120 days of year-end, being June 30, 2025 (the "Filing Deadline"). The delay at CLC is due to the audit taking longer than expected, primarily because of the high level of testing required and the limited availability of staff resources. The Company's material item on its balance sheet is inventory and biological assets. Given the increased production levels over the past year and the introduction of additional product lines following the Midway acquisition, the process of costing and inventory allocation is taking longer than originally anticipated. Further, the financings completed in connection with the Midway acquisition earlier in 2024 have added to the workload, requiring additional time to ensure accuracy of the financial statements. CLC is working closely with its auditor DMCL LLP and is making every effort to submit the Annual Filings in a timely fashion and expects to file no later than July 14, 2025, and will issue a news release announcing the completion of such filings at that time. CLC CEO Mark Aiken stated, "We support the provision of extra time to allow auditors to satisfactorily complete the 2024 audit and ensure that the financial statements are accurate in all respects." The Company is providing this default announcement in accordance with National Policy 12-203 Management Cease Trade Orders ("NP 12-203"). The Company has made an application to the British Columbia Securities Commission, as principal regulator of the Company, a management cease trade order ("MCTO") under NP 12-203 in respect of the default regarding the Annual Filings. The MCTO will prohibit the CEO and the CFO from trading in securities of CLC for so long as the Annual Filings are not filed. The issuance of the MCTO, if issued, does not affect the ability of persons other than the CEO and the CFO of the Company to trade in the Company's securities. The application for the MCTO remains subject to the risk factors described in "Forward Looking Information and Risk Factors" below, including the risk that the MCTO application may not be successful or may not be completed prior to a securities commission issuing a failure-to-file cease trade order against the Company following the Filing Deadline. The Company confirms that it intends to satisfy the provisions of the alternative information guidelines found at sections 9 and 10 of NP 12-203 respecting Cease Trade Orders for Continuous Disclosure Defaults for so long as it remains in default as a result of the late filing of the Annual Filings. During the period of default, the Company will issue biweekly default status reports in the form of further news releases, which will also be filed on SEDAR. The Company confirms that there are no insolvency proceedings against it as of the date of this news release. The Company also confirms that there is no other material information concerning the affairs of the Company that has not been generally disclosed as of the date of this news release. ABOUT CLC Christina Lake Cannabis is a licensed producer of cannabis under the Cannabis Act. It has secured a standard cultivation license and corresponding processing amendment from Health Canada (March 2020 and August 2020, respectively) as well as a research and development license (early 2020). 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 more information about CLC, please visit: Jennifer SmithInvestor Relations and Media Inquiriesinvestors@ 902-229-7265 Forward Looking Information and Risk Factors This news release contains statements and information that may constitute "forward-looking information" within the meaning of applicable securities legislation, including statements identified by the use of words such as "will", "expects", "positions", "believe", "potential" and similar words, including negatives thereof, or other similar expressions concerning matters that are not historical facts. Such forward-looking information is not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information contained herein may include, but is not limited to, information concerning the estimated filing date of the Annual Filings, and whether the British Columbia Securities Commission will grant the Company's application for an MCTO. By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. Some of these risks include, but are not limited to, the risk that the Annual Filings are filed later than anticipated, the risk that the Company's application for an MCTO is not successful for any reason, in which case there is a risk that trading in the Company's securities may halted by the Canadian Securities Exchange and/or cease traded temporarily by the Canadian securities commissions after the Filing Deadline until such time as the Annual Filings are filed on SEDAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. In connection with the forward-looking information contained in this news release, the Company has made certain assumptions. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information contained in this news release are made as of the date of this news release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hamilton Spectator
01-05-2025
- Business
- Hamilton Spectator
Christina Lake Cannabis Closes First Tranche of Non-Brokered Private Placement
VANCOUVER, British Columbia, April 30, 2025 (GLOBE NEWSWIRE) — Christina Lake Cannabis Corp. (the 'Company' or 'CLC' or 'Christina Lake Cannabis') (CSE: CLC) (OTCQB: CLCFF) (FRANKFURT: CLB) further to the press release dated April 23, 2025, the Company is pleased to announce that it has closed the first tranche (the 'First Tranche') of a non-brokered private placement of units ('Units'), with each Unit consisting of one common share in the capital of the Company (each a 'Share') and one half of one common share purchase warrant (each whole warrant a 'Warrant'), in the principal amount of CDN $1,138,910.55 (the 'Offering'). The Company issued 22,778,211 Units at a price of $0.05 per Unit under the closing of the first tranche, which were in the form of a debt settlement of principal and accrued interest due to the existing convertible debenture holders. No finders' fees were paid in connection with the first closing of the Offering. The Offering is subject to the receipt of all required regulatory approval, including acceptance of the CSE. All securities issued in connection with the Offering will be subject to a hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws. The Company expects to complete additional closing or closing on or prior to May 30, 2025. Certain directors and officers of the Company subscribed for an aggregate of 21,524,011 of Units and gross proceeds of $1,076,200.55 under the first tranche of 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 ('MI 61- 101'). 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 Shares to be acquired by the participating directors and officers nor the consideration to be paid by such directors and officers is anticipated to exceed $2,500,000. The securities issued under the Offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and were not to be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. 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' 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, green houses, and a dry room. 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. On behalf of Christina Lake Cannabis: 'Mark Aiken' Mark Aiken, CEO For more information about CLC, please visit: Jennifer Smith Investor Relations and Media Inquiries investors@ 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 News Release includes certain 'forward-looking statements' which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as 'believes', 'anticipates', 'expects', 'estimates', 'may', 'could', 'would', 'will', 'likely', 'probably', 'often', or 'plan'. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the size of the Offering, the completion and terms of the Offering, the use of the proceeds from the Offering, completion of any additional tranches of the Offering, the Company's objectives, goals or future plans, statements, harvesting results, and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include future growth potential of the Company, fluctuations in general macroeconomic conditions, fluctuations in securities markets, expectations regarding the size of the future harvest, the ability of the Company to successfully achieve its business objectives, plans for expansion, inability to obtain adequate insurance to cover risks and hazards and general market conditions. Additional factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on . Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. These statements speak only as of the date of this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
