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Christina Lake Cannabis provides bi-weekly update on status of MCTO

May 30, 2024  By Grow Opportunity Staff


(Globe Newswire) Vancouver – Christina Lake Cannabis Corp. is providing an update with respect to the expected timeline for filing its audited financial statements for the fiscal year ended November 30, 2023, the related management’s discussion and analysis and certificates of its CEO and CFO and its previously announced management cease trade order  issued by the company’s principal regulator, the British Columbia Securities Commission, on April 3, 2024.

As previously announced, pursuant to the MCTO, the CEO and CFO of the company may not trade in securities of the company until such time as the company files the Required Documents and the BCSC revokes the MCTO. The MCTO does not affect the ability of other shareholders of the company to trade in securities of the company.

Pursuant to the provisions of the alternative information guidelines specified in National Policy 12-203 – Management Cease Trade Orders, the company confirms that, as of the date of this news release: (a) there have been no material changes to the information contained in the default announcement issued on April 3, 2024 that would reasonably be expected to be material to an investor; (b) there have been no failures by the company to fulfill its stated intentions with respect to satisfying the provisions of the alternative reporting guidelines under NP 12-203; (c) there has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Default Announcement; and (d) there is no other material information concerning the affairs of the company that has not been generally disclosed.

The company confirms as of the date of this news release that there is no insolvency proceeding against it and there is no other material information concerning the affairs of the company that has not been disclosed. The company expects to file the Annual Filings as soon as they are available. At this time the company anticipates completion no later than June 3, 2024. Following the filing of the Annual Filings, the financial statements for the first quarter, ended February 28, 2024, will be filed within five business days.

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