Early Warning News Release Regarding Investment by Raymund Baterina in Christina Lake Cannabis Corp.

(TheNewswire)

December 23, 2024 – TheNewswire- Pursuant to the early warning requirements ofapplicable Canadian securities laws, Raymund Baterina reports that on between September 8, 2022 and February 29,2024, he acquired on a direct or an direct basis through the PlayfordFamily (Canada) LP (the "LP"), of which Mr. Baterina is a trustee,ownership and direction or control over the following securities ofChristina Lake Cannabis Corp. (the "Company"):

• A convertible debenture of the Company (each, aDebenture”) with a face value of $400,000 on September 8, 2022through a non-brokered private placement. The Debenture matures onSeptember 8, 2025 and bears interest at the rate of 15% per annum,with such interest being accrued on a monthly basis and paid on asemi-annual basis. The Debenture is convertible into Common Shares ofthe Company at a price of $0.15 per Common Share. 

• 200,000 warrants of the Company (each, a Warrant”) onSeptember 8, 2022. The Warrants are exercisable until December 31,2024 to acquire one additional Common Share per Warrant at an exerciseprice of $0.20 per Common Share. 

• A secured convertible note of the Company (each, aNote*”) with a face value of $600,000 on September 12, 2023through a non-brokered private placement. The Note matures onSeptember 12, 2026 and is secured by land and buildings. The Notebears interest at a rate of 15% per annum, with such interest beingaccrued on a monthly basis and paid on a monthly basis. From month 16to maturity the monthly payments convert into blended principal andinterest payments. The Note is convertible into Common Shares of theCompany at a price of $0.06 per Common Share. 

• A Note* of the Company with a face value of $100,000 onSeptember 25, 2023 through a non-brokered private placement. The Notematures on September 25, 2026 and is secured by land and buildings.The Note bears interest at a rate of 15% per annum, with such interestbeing accrued on a monthly basis and paid on a monthly basis. Frommonth 16 to maturity the monthly payments convert into blendedprincipal and interest payments. The Note is convertible into CommonShares of the Company at a price of $0.06 per Common Share. 

• A Note* of the Company with a face value of $98,000 onNovember 3, 2023 through a non-brokered private placement. The Notematures on November 3, 2026 and is secured by land and buildings. TheNote bears interest at a rate of 15% per annum, with such interest tobe accrued on a monthly basis and paid on a monthly basis. From month16 to maturity the monthly payments convert into blended principal andinterest payments. The Note is convertible into Common Shares of theCompany at a price of $0.06 per Common Share. 

• 4,000 Common shares of the Company on February 8, 2024,through an open market purchase, at a price of $0.10 per CommonShare. 

• A Note of the Company* with a face value of $1,000,000on February 29, 2024 through a non-brokered private placement. TheNote matures on February 28, 2029 and is secured by land andbuildings. The Note bears interest at the rate of 10% per annum in thefirst 12 months, 15% per annum in the second 12 months, and 20% perannum for the remaining 36 months with such interest being accrued ona monthly basis and paid on an annual basis in the first 24 months.From month 25 to maturity the annual payments convert into quarterlyinterest payments with annual principal payments on the anniversarydate in months 36, 48, and 60. The Note is convertible into CommonShares of the Company at a price of $0.05 per Common Share.  

*The Notes have a blocker which restricts Mr. Baterinaand the LP’s ability to convert the Note should it bring theirownership above 19.9% of the Company’s Common Shares.

(collectively, the “Reportable Transactions”).

Immediately prior to the Reportable Transactions, Mr. Baterina, hadownership and direction or control over 3,215,464 Common Sharesthrough the LP and 84 Common Shares on a direct basis whichrepresented 2.48% of the 129,892,173, then outstanding Common Sharesof the Company on a non-diluted basis. Mr. Baterina also had ownershipand direction or control over 100,000 stock options which if convertedwould entitle the holder to acquire up to an additional 100,000 CommonShares, or 0.07% of the Common Shares on a partially diluted basis. Asa result of the Reportable Transaction, Mr. Baterina, through the LP,has acquired ownership and direction or control over 3,215,464 CommonShares and 4,084 Common Shares representing 2.47% of the 129,892,173outstanding Common Shares of the Company on a non-diluted basis.Additionally, if Mr. Baterina and his affiliates were to exercise allof the outstanding Debentures, Notes, Warrants and stock options, hewould own an aggregate of 19.99*% of the Common Shares of the Company,on a partially diluted basis.

*The Notes have a blocker which restricts Mr. Baterinaand the LP’s ability to convert the Note should it bring theirownership above 19.9% of the Company’s Common Shares.

Mr. Baterina, together with the LP, acquired the Common Shares inconnection with the Offering and were acquired for investmentpurposes. Mr. Baterina has a long-term view of the investment and doesnot intend at this time to acquire in the market any additional commonshares of Company, or dispose of any of the Common Shares or sharesacquired on exercise of any of the outstanding convertible securities,but may in the future increase or decrease his shareholding in Companydepending on market conditions, whether in the open market, byprivately negotiated agreement or otherwise.

Mr. Baterina's address is located at 2620 Cavendish Avenue, Victoria,BC V8R 2G6. The Company's head office is located at 1890 – 1075 WestGeorgia Street, Vancouver, BC, V6E 3C9. A copy of the early warningreport to which this news release relates can be obtained from Mr.Baterina at 604-787-9599 or via email playfordfamily.ray@gmail.com. oron the Company’s SEDAR+ profile at www.sedarplus.ca.

Copyright (c) 2024 TheNewswire - All rights reserved.