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Calgary, Alberta--(Newsfile Corp. - August 31, 2026) - Simply Solventless Concentrates Ltd. (TSXV: HASH) ("SSC") announces that it has filed on SEDAR its financial statements for the quarter ended March 31, 2026, the related management's discussion and analysis, and the related CEO and CFO certificate (collectively, the "Q1 Financials") which are available on SSC's SEDAR+ profile at www.sedarplus.ca. SSC also announces that it intends to file its financial statements for the quarter ended June 30, 2026, the related management's discussion and analysis and related CEO and CFO certificates by August 31, 2026.

As previously announced, SSC entered into a restructuring process (the "Restructuring") on February 27, 2026. See the latest update in the following news release: CCAA Proceedings and Restructuring, dated July 28, 2026, which outlines the expected outcomes of the Restructuring, including total estimated debt reductions of up to $19.9 million, and total estimated total cost reductions of up to $7.1 million per year.

Should SSC close the Restructuring prior to September 30, 2026, the initial impacts of the Restructuring will be in SSC's financial statements and related management's discussion and analysis for the period ending September 30, 2026 (Q3 2026).

MCTO Update

On August 21, 2026, the Alberta Securities Commission (the "ASC"), SSC's principal regulator, approved an extension of the previously announced management cease trade order ("MCTO") under National Policy 12-203 - Management Cease Trade Orders ("NP 12-203") to August 28, 2026. The filing of the Q1 Financials was the last item creating a default under NP 12-203, and while SSC is unable to provide assurance as to when the MCTO will be revoked, it expects that the MCTO will be revoked in approximately two full business days.

Pursuant to the MCTO, management of SSC may not trade in securities of SSC until such time as the MCTO is revoked. The MCTO does not affect the ability of other shareholders of SSC to trade in securities of SSC. SSC confirms that it will satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing biweekly default status reports in the form of news releases for so long as the MCTO remains in place.

SSC confirms that (a) there have been no failures by the Company to fulfill its stated intentions with respect to satisfying the provisions of the alternative reporting guidelines under NP 12-203; (b) there has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the default announcements; and (c) there is no other material information concerning the affairs of SSC that has not been generally disclosed. SSC will issue required bi-weekly updated regarding the MCTO until it is revoked.

Update on Private Placement and Shares for Debt Settlement

SSC also announces the extension of its previously announced non-brokered private placement of up to 20,000,000 units of SSC ("Units") at a price of $0.05 per Unit for aggregate gross proceeds of up to $1.0 million (the "Financing") and settlement of up to $3.0 million convertible debentures of SSC (the "Debentures") and up to $1.6 million of promissory notes of the Company in Units at a price of $0.05 per Unit (the "Debt Settlement"). In addition, the conversion price of any Debentures not settled in Units will be amended from $1.00 per share to $0.15 per share and the exercise price of the common share purchase warrants issued with the Debentures will be amended from $1.20 per share to $0.25 per share (collectively, the "Debenture Amendment").

As of the date hereof, SSC has received subscriptions for $0.5 million of Units in the Financing and elections to convert an aggregate principal amount of $2.2 million of Debentures. The deadline to elect to convert Debentures was July 31, 2026.

Each Unit is comprised of one common share of SSC and one common share purchase warrant of SSC (a "Warrant"), with each Warrant being exercisable for one common share of SSC at a price of $0.10 per share for a period of two years from the issuance date. The expiry date of the Warrants is subject to acceleration if the volume-weighted average trading price of the common shares of SSC on the TSX Venture Exchange exceeds $0.18 for at least five consecutive trading days. All securities issued under the Financing and Debt Settlement will be subject to a hold period expiring four months and one day from the date of issuance.

SSC expects to use the net proceeds of the Financing for final restructuring professional fees, Humble pre-CCAA excise taxes, CRA excise deposits, and general working capital. SSC expects to close the Financing, Debt Settlement and Debenture Amendment concurrently on or before September 30, 2026. SSC will provide any new information regarding timing as it becomes available.

Closing of the Financing, Debt Settlement and Debenture Amendment are subject to the approval of the TSX Venture Exchange.

Further details of the Financing, Debt Settlement and Debenture Amendment are available in SSC's news release dated July 28, 2026.

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.

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", "approximately" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward looking statements concerning the date that the MCTO will be lifted, if at all, impacts of the Restructuring, including expanded revenue, improved balance sheet and cost structure, closing of the Restructuring, use of proceeds of the Financing, closing of the Financing, Debt Settlement and Debenture Amendment and SSC's expected growth, results of operations and performance. 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, 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 its 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. There can be no assurance that the Restructuring will be completed prior to September 30, 2026 or at all.

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 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 release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/312126

Source: Simply Solventless Concentrates Ltd.