On November 3, 2023, Christina Lake Cannabis Corp. closed the transaction. The company has issued 15% secured convertible promissory notes in the principal amount of CAD 294,000 for the gross proceeds of CAD 298,000 in its third and final tranche.

The company has now received total gross proceeds of CAD 4,238,000 under all three tranches in the transaction. Certain insiders of the company participated in the third tranche of the offering for an aggregate total of CAD 298,000.