Calgary, Alberta--(Newsfile Corp. - February 27, 2026) - Simply Solventless Concentrates Ltd. (TSXV: HASH) ("SSC") announces that it has commenced a restructuring process for the benefit of SSC's shareholders and stakeholders (the "Restructuring"). The Restructuring is intended to maximize value and balance sheet strength for shareholders, creditors, and other stakeholders (the "Stakeholders"). It is expected that SSC's common shares will continue to trade on the TSX Venture Exchange (the "TSXV") under its ticker symbol "HASH" for the duration of the Restructuring.
Restructuring Process
Pursuant to the Restructuring, three of SSC's wholly owned subsidiaries, Massive Hash Factory Ltd. ("MHF"), CannMart Inc. ("CannMart"), and ANC Inc. ("ANC" and collectively, the "Applicants") have been granted creditor protection under the Companies' Creditors Arrangement Act (Canada) (the proceedings related thereto, the "CCAA Proceedings"). Furthermore, the stay of proceedings granted thereunder has been extended to SSC's fourth wholly owned subsidiary, Humble Grow Co. ("Humble") and for SSC (together with Humble, the "Stayed Entities" and collectively with the Applicants, the "SSC Entities"), to ensure that the Restructuring is completed in an orderly manner. The business operations of the SSC Entities are not anticipated to be interrupted as a result of the CCAA Proceedings. MHF, CannMart, ANC and Humble are all of SSC's subsidiaries and are each material to SSC.
The CCAA Proceedings were initiated pursuant to an order (the "Initial Order") of the Court of Kings Bench of Alberta (the "Court"). Pursuant to the Initial Order, the Court has appointed MNP Ltd. as the monitor of the Applicants (in such capacity, the "Monitor") to oversee the CCAA Proceedings.
Reason for Restructuring Process
After careful consideration of all reasonably available alternatives, the board of directors of the SSC Entities determined that the Restructuring is in the best interests of the Stakeholders. The CCAA Proceedings will provide the SSC Entities with the time and stability to operate in the ordinary course while evaluating potential restructuring alternatives, with a view to maximizing value and balance sheet strength for the benefit of Stakeholders.
The Initial Order provides for, among other things, a stay of creditor claims and proceedings in favour of the SSC Entities for an initial period of 10 days, subject to extension thereafter as the Court deems appropriate.
Sale and Investment Solicitation Process
The SSC Entities intend to seek Court approval to launch a sale and investment solicitation process for the Applicants (the "Sale Process") as part of the CCAA Proceedings. The Sale Process excludes the Stayed Entities (Humble and SSC).
The Sale Process is expected to be administered by the SSC Entities and the Monitor. Additional details in respect of the Sale Process will be disclosed on the Monitor's Website (as defined below) in the course of the CCAA Proceedings.
To help fund the CCAA Proceedings, the SSC Entities expect to seek approval of debtor-in-possession financing at a subsequent hearing.
A copy of the Initial Order and additional information regarding the CCAA Proceedings - including all of the Court materials filed in the CCAA Proceedings - will be made available at the Monitor's website: https://mnpdebt.ca/en/corporate/corporate-engagements/ssc (the "Monitor's Website").
About Simply Solventless Concentrates Ltd.
SSC is a public company incorporated under the Business Corporations Act (Alberta). SSC's mission is to provide pure, potent, terpene-rich ready to consume cannabis products to discerning cannabis consumers. For more information regarding SSC, please see www.simplysolventless.ca.
Simply Solventless Concentrates Ltd.
Jeff Swainson, President and CEO
Phone: 403-796-3640
Email: jeff@simplysolventless.ca
Notice on Forward-Looking Information
This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends", "expects", "projected" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward looking statements concerning SSC's shares continuing to trade on the TSXV during the Restructuring, the impact of the Restructuring on the business of the SSC Entities and on Stakeholders, debtor in possession financing, and Court approval of the Sale Process. SSC cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of SSC, including expectations and assumptions concerning SSC, obtaining requisite Court approvals, the ability to maintain relationships with customers, employees and suppliers, the timing and market acceptance of products, competition in SSC's markets, SSC's reliance on customers, fluctuations in interest rates, SSC's ability to maintain good relations with its customers, employees and other stakeholders, changes in law or regulations, SSC's ability to protect its intellectual property, as well as other risks and uncertainties, including those described in SSC's filings available on SEDAR+ at www.sedarplus.ca including SSC's most recent annual information form. The reader is cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of SSC.
The reader is cautioned not to place undue reliance on any forward-looking statements. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release, and SSC does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Not for distribution to U.S. news wire services or for dissemination in the United States.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285666
Source: Simply Solventless Concentrates Ltd.
