Christina Lake Cannabis Corp. (CSE: CLC) (OTCQB: CLCFF) (FRANKFURT: CLB) has closed the first tranche of a non-brokered private placement of secured convertible promissory notes in the principal amount of CA$3.19 million ($2.35 million).

On Tuesday, the Vancouver, British Columbia-based cannabis company said that it has issued convertible promissory notes secured by land and buildings.

The note bears interest at a rate of 15% per annum over a term of 36 months.

Under the deal, repayment of the note shall be in the form of interest-only payments for the first 15 months of the term and a blended principal and …

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