2024-02-05 10:13:45 ET
The %Cannabis Act legalized recreational use in Canada and this licensed producer is making moves. Leading high-quality extract and sun-grown cannabis producer %ChristinaLakeCannabis (CSE: CLC) (OTC: CLCFF) announced in a press release today the signing of a definitive agreement to acquire certain assets from a private British Columbia corporation. Through the proposed transaction, Christina Lake will acquire ownership of outdoor cultivation facilities in Southern British Columbia, related harvesting and manufacturing equipment, and approximately 19,000 kg. of biomass for a total purchase price of $3,000,000.
Following the acquisition, Christina Lake will expand its licensed outdoor cultivation footprint by approximately 100 acres. The transaction is expected to close on February 9, 2024, subject to completion of customary closing conditions.