VANCOUVER, British Columbia, Nov. 03, 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 entered into a secured credit facility with an entity controlled by Salvatore Milia, a director of the Company (the "Lender"), pursuant to which the Lender has agreed to make available to the Company a revolving line of credit of up to $1,500,000 (the "New Facility"). The New Facility has a term of two (2) years from the date of the agreement, bears interest at a rate of 14% per annum on outstanding amounts, and is repayable on demand by the Lender with 90 days’ notice by the Lender to the Company. Additionally, the Company may repay the New Facility at any time prior to the end of the term without penalty. The New Facility is secured through a second mortgage on the Company's property at 775 Highway 395, Christina Lake, British Columbia and a general security agreement. The New Facility is not convertible into any other securities of the Company.

The Company also announces that its previous secured credit facility of up to $1,500,000 with an entity controlled by Mr. Boychuk, a director of the Company (the “Prior Facility”), has been repaid in full.

As Mr. Milia is a director of the Company and therefore a related party of the Company pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"), the New Facility constitutes a “related party transaction”. The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to Sections 5.5(b) and 5.7(1)(b), respectively, as the Company is not listed on a specified market under MI 61-101, the fair market value of the New Facility does not exceed $2,500,000, and the New Facility was approved by at least two-thirds of the independent directors of the Company.

The Company did not file a material change report in respect of the New Facility more than 21 days before entering into the New Facility, as the details of the New Facility were not settled until shortly prior to closing and the Company wished to complete the transaction on an expedited basis for sound business reasons. The Company considers this to be reasonable in the circumstances.

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 a 342-acre property which includes approximately 100 acres of licensed outdoor grow space, greenhouses, 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:

“Jay McMillan”
Jay McMillan, Chairman

For more information about CLC, please visit: www.christinalakecannabis.com
Investor Relations and Media Inquiries
investors@clcannabis.com
1.888.410.0304

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 availability of funds under the New Facility, the repayment of the New Facility, 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.