Christina Lake Cannabis Corp. announced a financing transaction
On the same day, the company received CAD 960,000 in its first and second tranche closing including second tranche of CAD 150,000. In connection with the second tranche of the private placement, the Company paid a finder's fee of $9,000(CAD 12,387.33) cash to a qualified party. The company also issued aggregate of 75,000 bonus warrants to the subscriber of the Offering. The subscriber received one half of one Bonus Warrant for each CAD 1 subscribed under the Offering. Each Bonus Warrant is exercisable until December 31, 2024 to acquire one additional Share per Bonus Warrant at an exercise price of CAD 0.20 per share. The Bonus Warrants are subject to an acceleration clause, whereby if the volume weighted average price Common Shares exceeds CAD 0.40 per Common Share for a period of 20 days, the Company may accelerate the expiry of the Bonus Warrants by providing notice to the holder.