Christina Lake Cannabis Announces Intention to Amend Debentures

Christina Lake Cannabis Announces Intention to Amend Debentures

Benzinga
August 25, 2025

VANCOUVER, British Columbia, Aug. 25, 2025 (GLOBE NEWSWIRE) -- Christina Lake Cannabis Corp. (the "Company" or "CLC" or "Christina Lake Cannabis") (CSE:CLC) (OTCQB:CLCFF) (FRANKFURT: CLB) announces that it has initiated the process to amend the terms of an aggregate of $960,000 principal amount of convertible debenture (the "Debentures") of the company issued on September 7, 2022 and October 14, 2022. Further details of the terms of the Debentures can be found in the press release of the Company dated September 7, 2022 and October 18, 2022.

The Debentures issued on September 7, 2022 and October 14, 2022 mature on 36 months from the issue date (the "Original Maturity Date"). In connection with the amendment, the Company is proposing to extend the Original Maturity Date by one year (the "New Maturity Date"). The interest rate on the Debentures will remain unchanged. Additionally, the Company proposes that the repayment of the Debentures will be made on a quarterly basis beginning on December 7, 2025 (for the debentures issued in September 2022), such that the Debentures shall be fully repaid by the New Maturity Date (the "Amendments"). The Company will seek approval of the holders of Debentures ("Holders") to amend such Debentures. The Company is not in default under any of the Debentures and is proposing such amendments as part of a strategic financial optimization initiative designed to better align debt service obligations with the Company's operational cash flow cycles and recent significant expansion achievements.

The Amendments remain subject to the approval of the Holders and the approval of the Canadian Securities Exchange. The Company expects to finalize the Amendments ...

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