Vancouver, British Columbia--(Newsfile Corp. - September 11, 2026) - Purebread Brands Inc. (TSXV: BRED) ("Purebread" or the "Company") is pleased to announce that it has entered into an agreement to settle C$400,000.00 in outstanding debt through the issuance of an aggregate of 320,000 common shares of the Company (the "Settlement Shares") at a price of $1.25 per Settlement Share (the "Debt Settlement").
This settlement transaction represents outstanding indebtedness owing by the Company to its former Chief Executive Officer Amrit Maharaj ("Maharaj"). The Company's board of directors and management believe that completing the Debt Settlement by issuing shares is in the best interests of the Company as it will allow the Company to preserve its cash resources for ongoing and planned operations.
Completion of the Debt Settlement remains subject to receipt of all necessary regulatory approvals, including acceptance by the TSX Venture Exchange (the "Exchange"). The Settlement Shares will be subject to a four-month hold period from the date of issuance in accordance with applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.
The foregoing securities being offered have not been and will not be registered under the U.S. Securities Act and may not be offered or sold in the United States, or to, or for the account or benefit of, U.S. persons or persons in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
About Purebread Brands Inc.:
Purebread Brands Inc. is a leader in fast-casual cafe / bakeries in British Columbia, driving retail expansion in vibrant communities across Canada and beyond. Purebread is committed to crafting exceptional food experiences and making a positive impact on the communities it serves.
For more information and updated investor presentation, please visit www.purebreadbrands.com or contact:
Christian Bullock, Chief Executive Officer
Purebread Brands Inc.
info@purebread.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. This forward looking information relates to, among other things, the terms of the Debt Settlement, the anticipated benefits of the Debt Settlement, the Company obtaining regulatory approvals, including acceptance by the Exchange, the Company obtaining disinterested shareholder approval of the Debt Settlement, the Company's ability to preserve its cash resources for ongoing and planned operations, and the Company's retail expansion plans.
Such forward-looking information is based on numerous assumptions, including among others, that the Debt Settlement will be completed and on the terms anticipated, the Debt Settlement will have the anticipated benefits to the Company, the Company will obtain the necessary regulatory and shareholder approvals, the Company will be able to preserve its cash resources and deploy them for ongoing and planned operations, and the Company will be able to continue its retail expansion. Although the assumptions made by the Company in providing forward-looking information are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate and actual results and future events could differ materially from those anticipated in such information.
Important factors that could cause actual results to differ materially from the Company's plans or expectations include the risk that the Debt Settlement will not be completed on the timing or terms anticipated, the risk that the Debt Settlement will not have the anticipated benefits, the risk that the Company will not obtain the necessary regulatory or shareholder approvals, the risk that the Company will not be able to preserve its cash resources or deploy them as anticipated, general economic and market conditions, increased competition, and the risk that the Company's retail expansion plans will not proceed as anticipated. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. Any forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement. We seek safe harbor.
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