Vancouver, British Columbia--(Newsfile Corp. - September 18, 2026) - Purebread Brands Inc. (TSXV: BRED) ("Purebread" or the "Company") is pleased to announce that it has further strengthened its balance sheet position through termination of its lease for the commercial kitchen premises located at 1623 Pandora St, Vancouver, BC, formerly operated by its subsidiary, Coho Collective Kitchens Inc.
Under the terms of a lease termination and settlement agreement, the Company's obligations under the lease were terminated in consideration for payment by the Company of $34,717.10, payable over 18 months. As a result of the termination, the Company has removed the following liabilities from its balance sheet:
- Rent Liability: $745,002.38
- Lease Liability: $3,088,165.57
"We're pleased to have reduced our liabilities by a further $3.8 million, marking another important step in strengthening the Company's balance sheet. We remain focused on continuing to drive down liabilities while positioning Purebread Bakery for its next phase. With a stronger financial foundation in place, our focus is increasingly shifting toward growth, expanding the Purebread brand and building the business for the long term," said Christian Bullock, Chief Executive Officer of Purebread Brands Inc.
The Company's board of directors and management believe that the termination of the lease and removing these liabilities will allow the Company to focus its resources on its core operations and ongoing retail expansion plans.
About Purebread Brands Inc.:
Purebread Brands Inc. is Canada's premium artisan bakery and cafe brand, operating 7 locations across British Columbia and building a national platform for premium baked goods and cafe experiences. With a vision to grow nationally, Purebread is building the team and infrastructure to drive retail expansion in vibrant communities across Canada and beyond.
For more information and updated investor presentation, please visit www.purebreadbrands.com or contact:
Christian Bullock, Chief Executive Officer
Purebread Brands Inc.
christian@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 anticipated benefits of the lease termination to the Company's financial position and the Company's retail expansion plans.
Such forward-looking information is based on numerous assumptions, including among others, that the lease termination will have the anticipated benefits to the Company and that 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 general economic and market conditions, increased competition, and the risk that the Company's retail expansion plans will not proceed as anticipated. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. We seek safe harbor.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/315056
