Christina Lake Cannabis Announces Sale of Bare Land

Rhea-AI Summary

Christina Lake Cannabis (CSE: CLC / OTCQB: CLCFF / FRA: CLB) completed the sale of 99 acres of non-core bare land at 46 Ponderosa Drive in Christina Lake, British Columbia for aggregate gross proceeds of $551,000 on Jan 16, 2026. The land was classified as non-core following the February 2024 Midway acquisition, which the company says provides sufficient land for long‑term objectives. Proceeds will be used for general working capital. Management states the disposition strengthens the balance sheet and enhances liquidity while allowing focus on core operating assets.

Positive

• Gross proceeds of $551,000 from sale of 99 acres
• Disposition of a non-core asset reduces non-operating holdings
• Proceeds allocated to general working capital to improve liquidity

Negative

• Proceeds of $551,000 are modest and may have limited balance-sheet impact
• Sale of 99 acres removes optional future land development capacity

News Market Reaction

+0.32%

1 alert

+0.32% News Effect

On the day this news was published, CLCFF gained 0.32%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

VANCOUVER, British Columbia, Jan. 16, 2026 (GLOBE NEWSWIRE) -- Christina Lake Cannabis Corp. (the “Company” or “CLC” or “Christina Lake Cannabis”) (CSE: CLC) (OTCQB: CLCFF) (FRANKFURT: CLB) announces that it has completed a sale of its 99 acres of non-core land at 46 Ponderosa Drive in Christina Lake, British Columbia (the "Land"). Pursuant to the sale of the Land, the Company sold the bare un-serviced Land to an arm's length third party for aggregate gross proceeds of $551,000 (the "Sale Transaction"). The Land is not required for the Company's current or anticipated operations and was classified as a non-core asset following the Midway acquisition in February 2024, which provides sufficient land to support the Company's long term objectives. The disposition of the Land strengthens the Company’s balance sheet and enhances liquidity while allowing management to remain focused on its core operating assets. Proceeds from the Sale Transaction will be used for general working capital for the Company.

About Christina Lake Cannabis Corp.

Christina Lake Cannabis is a licensed producer of cannabis under the Cannabis Act with a standard cultivation license and corresponding processing amendment from Health Canada as well as a research and development license. Christina Lake Cannabis’ facilities consist of a 32-acre property, which includes over 950,000 square feet of outdoor grow space, offices, propagation and drying rooms, research facilities, and a facility dedicated to processing and extraction and 342-acre property which includes approximately 100-acres of licensed outdoor grow space, green houses, and a dry room. CLC focuses its production on creating high quality outdoor flower, extracts and distillate for its B2B client base.

On behalf of Christina Lake Cannabis:

“Mark Aiken”
Mark Aiken, CEO

For more information about CLC, please visit: www.christinalakecannabis.com
Jennifer Smith
Investor Relations and Media Inquiries
investors@clcannabis.com
902-229-7265

THE CANADIAN SECURITIES EXCHANGE (“CSE”) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE, NOR HAS OR DOES THE CSE’S REGULATION SERVICES PROVIDER.

This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, “likely”, “probably”, “often”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, harvesting results, and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include future growth potential of the Company, fluctuations in general macroeconomic conditions, fluctuations in securities markets, expectations regarding the size of the future harvests and cashflow generated from such harvests, fluctuations on pricing within cannabis markets, the ability of the Company to successfully achieve its business objectives, inability to obtain adequate insurance to cover risks and hazards and general market conditions. Additional factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on http://www.sedarplus.ca. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected

Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. These statements speak only as of the date of this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

FAQ

What did Christina Lake Cannabis (CLCFF) sell on January 16, 2026?

The company sold 99 acres of non-core bare land at 46 Ponderosa Drive in Christina Lake, BC for $551,000.

Why did Christina Lake Cannabis (CLCFF) sell the 99 acres of land?

The land was classified as non-core after the February 2024 Midway acquisition and the company aims to strengthen its balance sheet and focus on core assets.

How will Christina Lake Cannabis (CLCFF) use the proceeds from the land sale?

Proceeds of $551,000 will be used for general working capital to enhance liquidity.

Does the land sale change Christina Lake Cannabis's operational land holdings?

The company says the sold land was not required for current or anticipated operations and the Midway acquisition provides sufficient land for long‑term objectives.

Was the land sale to a related party or arm's length buyer for CLCFF?

The sale was completed to an arm's length third party.

Will the CLCFF land sale affect the company’s development plans?

Management indicates the sold parcel was non-core and the transaction allows continued focus on core operating assets.