MONTREAL, Sept. 21, 2026 (GLOBE NEWSWIRE) -- Prime Drink Group Corp. (CSE: PRME) ("Prime" or the "Company") is pleased to announce that it has finalized and agreed to settlement terms between Prime, Roynat Inc. ("Roynat"), and Financement Agricole Canada ("FAC" together with Roynat, the "Creditors") and has completed a one-time cash payment of $1,010,000 to the Creditors (the "Settlement Payment"). As a result of the Settlement Payment, the Company has been released by the Creditors from all guarantees made by the Company related to loans extended to Triani Canada Inc., which represented potential exposure to the Company of up to $17.6 million.
Jean Gosselin, Chief Financial Officer of Prime, commented: "The completion of this settlement represents an important milestone for Prime. It allows us to turn the page on a significant source of uncertainty and focus our efforts fully on the next phase of our growth strategy. With the proposed acquisition of Beach Day Every Day, a premium brand that is experiencing success in Québec, together with our strategic partnership with Geloso, we are particularly well positioned to accelerate the development of BDED across the rest of Canada, the United States and Europe. We are very enthusiastic about the opportunities ahead for Prime and our shareholders."
The completion of the Settlement Payment, together with the anticipated completion of the ongoing private placement financing as announced on August 26, 2026, will enable Prime to strengthen its balance sheet and allow the Company to better focus its resources on achieving its strategic and operational objectives.
About Prime Drink Group
Prime Drink Group Corp (CSE: PRME) is a Québec-based corporation focused on becoming a leading diversified holding company in the beverage, influencer media and hospitality sectors.
For further information, please contact:
Jean Gosselin, CFO
Phone: (514) 394-7717
Email: info@prime-group.ca
Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations (including negative and grammatical variations) of such words and phrases or statements that certain acts, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information in this press release may include, without limitation, statements relating to the completion of the private placement, and the anticipated benefits to the business of Prime due to the completion of the Settlement Payment.
These statements are based upon assumptions that are subject to significant risks and uncertainties, including risks regarding the beverage industry, market conditions, general economic factors, and the equity markets generally. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance of Prime may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although Prime believes that the expectations reflected in forward-looking statements are reasonable, they can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, Prime disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
