{"success":true,"data":{"pressRelease":{"id":"148302","rtpr_id":"nNFC9Vy8n1-20260921","ticker":"HASH","exchange":"","all_tickers":["HASH"],"title":"Simply Solventless Outlines Path to Planned CCAA Exit, Announces Approval of $1.0 Million in Rebates, Settlement of Vendor Take-Back Debt, Revocation of Management Cease Trade Order, and Extension of Stay of CCAA Proceedings, & Provides Financing Update","author":"Newsfile Corp","published_at":"2026-09-21T11:05:18.904Z","article_body":"Calgary, Alberta--(Newsfile Corp. - September 21, 2026) - Simply Solventless\nConcentrates Ltd. (TSXV: HASH) (\"SSC\") is pleased to announce a series of\nmilestones and events that collectively chart the path towards exiting its\npreviously announced restructuring (\"Restructuring\") between October 31, 2026,\nand November 30, 2026. These milestones and events include the approval (and\npending receipt) of $1.0 million of government rebates (\"Rebates\"), the\nsettlement of $0.6 million of vendor take-back debt (\"VTB\") for $0.1 million\n(a reduction of $0.5 million), continued strong retrofit cultivation results\nat Humble Grow Co. (\"Humble\") equating to an increase in yield of 75%, the\nrevocation of the previously announced Management Cease Trade Order (\"MCTO\"),\nand the extension of the previously announced Restructuring stay of\nproceedings to November 30, 2026. SSC also provides updates regarding the\npreviously announced non-brokered private placement of up to 20,000,000 units\nof SSC (\"Units\") at a price of $0.05 per Unit for aggregate gross proceeds of\nup to $1.0 million (the \"Financing\"), and the settlement of portions of SSC's\nconvertible debentures (\"Debentures\") and promissory notes (\"Notes\") for\nUnits.\n\nJeff Swainson, President & CEO of SSC, stated: \"We are reaching an important\ninflection point as we will now proceed to close the various transactions that\nwill ultimately result in SSC emerging from the Restructuring, which was\nundertaken to fundamentally improve and strengthen our business for the\nlong-term. We expect that upon exit we will have reduced debt by approximately\n$20.0 million and achieved total estimated annual cost reductions of up to\n$7.1 million, while increasing dried flower yields at Humble by 75% on core\ncultivars. While there is still work to complete, throughout this process our\nteam has demonstrated extraordinary resilience, and I want to thank every SSC\nteam member for their commitment, determination and hard work in getting us to\nthis point. On behalf of the entire team, I also want to thank our\nstakeholders for the support and confidence they have shown in SSC, as their\nwillingness to work alongside us allowed SSC to preserve value, protect the\nstrength of our assets and brands, and position SSC to emerge with a stronger\nfoundation and a clear path forward.\"\n\nPlanned CCAA Exit Date\n\nWith the Rebates approved, SSC will proceed to close the various transactions\nthat will result in SSC exiting the Restructuring, including the Financing and\nDebt Settlements (both as defined below), and the previously announced court\napproved Restructuring transactions (see CCAA Proceedings and Restructuring\n(https://api.newsfilecorp.com/redirect/24pk1IWoOG)). It is estimated that SSC\nwill exit the Restructuring between October 31, 2026 and November 30, 2026.\n\n$1.0 Million of Rebates Approved\n\nOn September 15, 2026, SSC received approval for Rebates totalling\napproximately $1.0 million in relation to the previously announced Humble\nretrofit. The proceeds from these Rebates are expected to be received in late\nSeptember or early October 2026.\n\nVTB Settlement\n\nSSC's $0.6 million VTB has been settled for $0.1 million in accounts payable,\nreducing debt by $0.5 million.\n\nHumble Retrofit Yields\n\nPhase 1 of the Humble retrofit was comprised of the installation of new LED\nlights (\"Phase 1\"). On core cultivars, Phase 1 whole dried flower yields\ncontinue to track at approximately 75% higher than trailing 6-month pre-Phase\n1 yields. This Phase 1 improvement equates to approximately 275-300kg per\nmonth of additional saleable flower. Phase 2 of the retrofit, which is\ncomprised of the implementation of new genetics and optimization of\nenvironmental control systems (\"Phase 2\"), is underway, with commercial\nproduction having been commenced on six new cultivars with the ability to\ndeliver high yield, potency, and terpene content. While still subject to proof\nof concept, SSC is encouraged by the potential of Phase 2 to further increase\nyields at nominal capital expense.\n\nMCTO Revoked\n\nThe previously announced MCTO under National Policy 12-203 issued on May 5,\n2026 by the Alberta Securities Commission, SSC's principal regulator, has been\nrevoked following the filing of the continuous disclosure documents that gave\nrise to the default. The MCTO dictated that management of SSC must not trade\nin securities of SSC. The MCTO did not affect the ability of other\nshareholders of SSC to trade in securities of SSC.\n\nCCAA Stay of Proceedings\n\nThe stay of proceedings related to the previously announced restructuring (see\nCCAA Proceedings and Restructuring\n(https://api.newsfilecorp.com/redirect/MqPaMugzoa)) has been extended from\nSeptember 30, 2026 to November 30, 2026. This provides for additional time for\nSSC to close all of the related transactions, if required.\n\n$0.05 Unit Financing\n\nThe previously announced $0.05 Unit Financing is proceeding, with $0.5-$0.7\nmillion of commitments received to date. SSC believes that the Financing will\nultimately be fully subscribed. SSC expects insider participation in the\nFinancing of approximately $0.2 million to $0.3 million.\n\nEach Unit is comprised of one common share of SSC and one common share\npurchase warrant of SSC (a \"Warrant\"), with each Warrant being exercisable for\none common share of SSC at a price of $0.10 per share for a period of two\nyears from the issuance date. The expiry date of the Warrants is subject to\nacceleration if the volume-weighted average trading price of the common shares\nof SSC on the TSX Venture Exchange exceeds $0.18 for at least five consecutive\ntrading days. All securities issued under the Financing and Debt Settlements\n(as defined below) will be subject to a hold period expiring four months and\none day from the date of issuance. No finder's fees are payable in connection\nwith the Financing.\n\nSSC expects to use the net proceeds of the Financing for Restructuring\nprofessional fees, Humble pre-CCAA taxes, payment of certain accounts payable,\nand general working capital. SSC expects to close the Financing between\nOctober 31, 2026, and November 30, 2026.\n\nDebentures and Notes Update\n\nThe previously announced settlement of up to $3.0 million Debentures and up to\n$1.6 million of Notes of SSC in Units at a price of $0.05 per Unit (the \"Debt\nSettlements\") including the repricing of the conversion price of the\nDebentures and the exercise price of the associated warrants, as described in\nSSC's news release dated July 28, 2026 (the \"Debenture Amendment\"), has been\nextended to an expected closing date of between October 31, 2026 and November\n30, 2026 to align with the timing discussed above. As of the date hereof, SSC\nhas received elections to convert to Units an aggregate principal amount of\n$2.2 million of Debentures, and agreements finalized or in draft to convert to\nUnits an estimated $1.5 million of Notes. The deadline to elect to convert\nDebentures was July 31, 2026.\n\nClosing of the Financing, Debt Settlements and Debenture Amendment are subject\nto the approval of the TSX Venture Exchange.\n\nParticipation in the Financing and the Debt Settlements by insiders of SSC\nconstitutes a \"related party transaction\" within the meaning of Multilateral\nInstrument 61-101 - Protection of Minority Security Holders in Special\nTransactions (\"MI 61-101\") and Policy 5.9 of the TSX Venture Exchange. SSC\nintends to rely on the exemptions from the formal valuation and minority\nshareholder approval requirements of MI 61-101 contained in sections 5.5(a)\nand 5.7(1)(a) thereof, on the basis that the fair market value of the insider\nparticipation does not exceed 25% of SSC's market capitalization, as\ndetermined in accordance with MI 61-101.\n\nFurther details of the Financing, Debt Settlements and Debenture Amendment are\navailable in SSC's news release dated July 28, 2026.\n\nAbout Simply Solventless Concentrates Ltd.\n\nSSC is a public company incorporated under the Business Corporations Act\n(Alberta). SSC's mission is to provide pure, potent, terpene-rich\nready-to-consume cannabis products to discerning cannabis consumers. For more\ninformation regarding SSC, please see www.simplysolventless.ca.\n\nSimply Solventless Concentrates Ltd.\nJeff Swainson, President and CEO\nPhone: 403-796-3640\nEmail: jeff@simplysolventless.ca\n\nNotice on Forward-Looking Information\n\nAll amounts in this news release are unaudited. See note 1 \"Nature of\noperations and going concern\" in unaudited Q2 2026 financial statements.\n\nThis news release contains forward-looking statements and forward-looking\ninformation (collectively, \"forward-looking statements\") within the meaning of\napplicable securities laws. Any statements that are contained in this news\nrelease that are not statements of historical fact may be deemed to be\nforward-looking statements. Forward-looking statements are often identified by\nterms such as \"may\", \"should\", \"anticipate\", \"will\", \"estimates\", \"believes\",\n\"intends\", \"expects\", \"projected\", \"approximately\" and similar expressions\nwhich are intended to identify forward-looking statements. More particularly\nand without limitation, this news release contains forward-looking statements\nconcerning the completion and timing of the Restructuring, the Financing, the\nDebt Settlements and the Debenture Amendment, including the expectation that\nthey will close on or before October 31, 2026 (or, if delayed, within the\nextended stay period ending November 30, 2026), the receipt of the approval of\nthe TSX Venture Exchange, SSC's ability to close the related transactions\nwithin the extended stay period, the conversion of the Debentures and Notes\ninto Units and the finalization of the remaining commitments and elections,\nthe settlement of the VTB, the use of proceeds of the Financing, the\nanticipated reduction of SSC's debt (including the anticipated reduction of\nSSC's debt by approximately $20.0 million upon exit from the Restructuring,\nthe anticipated achievement of total estimated annual cost reductions of up to\n$7.1 million and the anticipated consolidation from four facilities to two),\nthe approval and expected receipt and timing of the Rebates, the Humble\nretrofit (including the continuation of the Phase 1 yield improvements and the\nimplementation, timing and results of Phase 2), the expected increases in\ncultivation yields, potency and terpene content and the anticipated\nincremental cash flow therefrom, the planned timing of SSC's exit from the\nRestructuring (anticipated on or around October 31, 2026 and in any event on\nor before November 30, 2026), the expected participation of insiders in the\nFinancing, and the anticipated closing of the Financing. SSC cautions that all\nforward-looking statements are inherently uncertain, and that actual\nperformance may be affected by a number of material factors, assumptions and\nexpectations, many of which are beyond the control of SSC, including\nexpectations and assumptions concerning SSC, the receipt and timing of the\nRebate proceeds, the completion, timing and results of the Humble retrofit\n(including the achievement of projected cultivation yields, potency, terpene\ncontent and incremental cash flow and the successful proof of concept for\nPhase 2), the timing of SSC's exit from the Restructuring, the completion of\nthe Financing and the Debt Settlements, the timing and market acceptance of\nproducts, competition in SSC's markets, SSC's reliance on customers,\nfluctuations in interest rates, SSC's ability to maintain good relations with\nits customers, employees and other stakeholders, changes in law or\nregulations, SSC's ability to protect its intellectual property, as well as\nother risks and uncertainties, including those described in SSC's filings\navailable on SEDAR+ at www.sedarplus.ca, including its most recent annual\ninformation form. The reader is cautioned that assumptions used in the\npreparation of any forward-looking statements may prove to be incorrect.\nEvents or circumstances may cause actual results to differ materially from\nthose predicted as a result of numerous known and unknown risks, uncertainties\nand other factors, many of which are beyond the control of SSC. The reader is\ncautioned not to place undue reliance on any forward-looking statements. Such\ninformation, although considered reasonable by management at the time of\npreparation, may prove to be incorrect and actual results may differ\nmaterially from those anticipated. Forward-looking statements contained in\nthis news release are expressly qualified by this cautionary statement. There\ncan be no assurance that the Restructuring will be completed prior to October\n31, 2026, within the extended stay period ending November 30, 2026, or at all.\n\nThe forward-looking statements contained in this news release are made as of\nthe date of this news release, and SSC does not undertake any obligation to\nupdate publicly or to revise any of the included forward-looking statements,\nwhether as a result of new information, future events or otherwise, except as\nexpressly required by securities law.\n\nFuture-Oriented Financial Information\n\nThis news release contains future-oriented financial information and financial\noutlook information (collectively, \"FOFI\") within the meaning of applicable\nsecurities laws, including with respect to the approximately $1.0 million of\nRebates and the expected timing of receipt of the proceeds thereof, the\nexpected increase of approximately 275-300kg per month of additional saleable\nflower from the Phase 1 Humble retrofit and any incremental cash flow\ntherefrom, the anticipated reduction of SSC's debt by approximately $20.0\nmillion upon exit from the Restructuring, the anticipated total estimated\nannual cost reductions of up to $7.1 million, projected cultivation yields,\npotency and terpene content, and the use of proceeds of the Financing. The\nFOFI, including the underlying assumptions, has been approved by management of\nSSC as of the date of this news release and is provided to give readers\ninformation about management's current expectations; it may not be appropriate\nfor other purposes. FOFI is based on assumptions that management believes are\nreasonable as of the date hereof, is subject to the risks, assumptions and\nqualifications described herein and in SSC's filings on SEDAR+ at\nwww.sedarplus.ca, and is qualified in its entirety by the cautionary\nstatements herein. References to incremental cash flow and cultivation yields,\npotency and terpene content are internal management estimates and\nmeasurements, are not measures under IFRS, are unaudited and, in the case of\nPhase 2, remain subject to proof of concept; actual results may differ\nmaterially. SSC does not undertake any obligation to update FOFI except as\nrequired by applicable securities laws.\n\nThe securities referred to in this news release have not been, and will not\nbe, registered under the United States Securities Act of 1933, as amended (the\n\"U.S. Securities Act\"), or any state securities laws, and may not be offered\nor sold within the United States or to, or for the account or benefit of, U.S.\npersons absent registration or an applicable exemption from such registration\nrequirements.\n\nThis news release shall not constitute an offer to sell or the solicitation of\nan offer to buy any securities in any jurisdiction.\n\nNeither TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\nNot for distribution to U.S. news wire services or for dissemination in the\nUnited States.\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/315128","article_body_html":"","raw_payload":{"data":{"id":"nNFC9Vy8n1-20260921","title":"Simply Solventless Outlines Path to Planned CCAA Exit, Announces Approval of $1.0 Million in Rebates, Settlement of Vendor Take-Back Debt, Revocation of Management Cease Trade Order, and Extension of Stay of CCAA Proceedings, & Provides Financing Update","author":"Newsfile Corp","ticker":"HASH","created":"2026-09-21T11:05:18.904Z","tickers":["HASH"],"exchange":"","article_body":"Calgary, Alberta--(Newsfile Corp. - September 21, 2026) - Simply Solventless\nConcentrates Ltd. (TSXV: HASH) (\"SSC\") is pleased to announce a series of\nmilestones and events that collectively chart the path towards exiting its\npreviously announced restructuring (\"Restructuring\") between October 31, 2026,\nand November 30, 2026. These milestones and events include the approval (and\npending receipt) of $1.0 million of government rebates (\"Rebates\"), the\nsettlement of $0.6 million of vendor take-back debt (\"VTB\") for $0.1 million\n(a reduction of $0.5 million), continued strong retrofit cultivation results\nat Humble Grow Co. (\"Humble\") equating to an increase in yield of 75%, the\nrevocation of the previously announced Management Cease Trade Order (\"MCTO\"),\nand the extension of the previously announced Restructuring stay of\nproceedings to November 30, 2026. SSC also provides updates regarding the\npreviously announced non-brokered private placement of up to 20,000,000 units\nof SSC (\"Units\") at a price of $0.05 per Unit for aggregate gross proceeds of\nup to $1.0 million (the \"Financing\"), and the settlement of portions of SSC's\nconvertible debentures (\"Debentures\") and promissory notes (\"Notes\") for\nUnits.\n\nJeff Swainson, President & CEO of SSC, stated: \"We are reaching an important\ninflection point as we will now proceed to close the various transactions that\nwill ultimately result in SSC emerging from the Restructuring, which was\nundertaken to fundamentally improve and strengthen our business for the\nlong-term. We expect that upon exit we will have reduced debt by approximately\n$20.0 million and achieved total estimated annual cost reductions of up to\n$7.1 million, while increasing dried flower yields at Humble by 75% on core\ncultivars. While there is still work to complete, throughout this process our\nteam has demonstrated extraordinary resilience, and I want to thank every SSC\nteam member for their commitment, determination and hard work in getting us to\nthis point. On behalf of the entire team, I also want to thank our\nstakeholders for the support and confidence they have shown in SSC, as their\nwillingness to work alongside us allowed SSC to preserve value, protect the\nstrength of our assets and brands, and position SSC to emerge with a stronger\nfoundation and a clear path forward.\"\n\nPlanned CCAA Exit Date\n\nWith the Rebates approved, SSC will proceed to close the various transactions\nthat will result in SSC exiting the Restructuring, including the Financing and\nDebt Settlements (both as defined below), and the previously announced court\napproved Restructuring transactions (see CCAA Proceedings and Restructuring\n(https://api.newsfilecorp.com/redirect/24pk1IWoOG)). It is estimated that SSC\nwill exit the Restructuring between October 31, 2026 and November 30, 2026.\n\n$1.0 Million of Rebates Approved\n\nOn September 15, 2026, SSC received approval for Rebates totalling\napproximately $1.0 million in relation to the previously announced Humble\nretrofit. The proceeds from these Rebates are expected to be received in late\nSeptember or early October 2026.\n\nVTB Settlement\n\nSSC's $0.6 million VTB has been settled for $0.1 million in accounts payable,\nreducing debt by $0.5 million.\n\nHumble Retrofit Yields\n\nPhase 1 of the Humble retrofit was comprised of the installation of new LED\nlights (\"Phase 1\"). On core cultivars, Phase 1 whole dried flower yields\ncontinue to track at approximately 75% higher than trailing 6-month pre-Phase\n1 yields. This Phase 1 improvement equates to approximately 275-300kg per\nmonth of additional saleable flower. Phase 2 of the retrofit, which is\ncomprised of the implementation of new genetics and optimization of\nenvironmental control systems (\"Phase 2\"), is underway, with commercial\nproduction having been commenced on six new cultivars with the ability to\ndeliver high yield, potency, and terpene content. While still subject to proof\nof concept, SSC is encouraged by the potential of Phase 2 to further increase\nyields at nominal capital expense.\n\nMCTO Revoked\n\nThe previously announced MCTO under National Policy 12-203 issued on May 5,\n2026 by the Alberta Securities Commission, SSC's principal regulator, has been\nrevoked following the filing of the continuous disclosure documents that gave\nrise to the default. The MCTO dictated that management of SSC must not trade\nin securities of SSC. The MCTO did not affect the ability of other\nshareholders of SSC to trade in securities of SSC.\n\nCCAA Stay of Proceedings\n\nThe stay of proceedings related to the previously announced restructuring (see\nCCAA Proceedings and Restructuring\n(https://api.newsfilecorp.com/redirect/MqPaMugzoa)) has been extended from\nSeptember 30, 2026 to November 30, 2026. This provides for additional time for\nSSC to close all of the related transactions, if required.\n\n$0.05 Unit Financing\n\nThe previously announced $0.05 Unit Financing is proceeding, with $0.5-$0.7\nmillion of commitments received to date. SSC believes that the Financing will\nultimately be fully subscribed. SSC expects insider participation in the\nFinancing of approximately $0.2 million to $0.3 million.\n\nEach Unit is comprised of one common share of SSC and one common share\npurchase warrant of SSC (a \"Warrant\"), with each Warrant being exercisable for\none common share of SSC at a price of $0.10 per share for a period of two\nyears from the issuance date. The expiry date of the Warrants is subject to\nacceleration if the volume-weighted average trading price of the common shares\nof SSC on the TSX Venture Exchange exceeds $0.18 for at least five consecutive\ntrading days. All securities issued under the Financing and Debt Settlements\n(as defined below) will be subject to a hold period expiring four months and\none day from the date of issuance. No finder's fees are payable in connection\nwith the Financing.\n\nSSC expects to use the net proceeds of the Financing for Restructuring\nprofessional fees, Humble pre-CCAA taxes, payment of certain accounts payable,\nand general working capital. SSC expects to close the Financing between\nOctober 31, 2026, and November 30, 2026.\n\nDebentures and Notes Update\n\nThe previously announced settlement of up to $3.0 million Debentures and up to\n$1.6 million of Notes of SSC in Units at a price of $0.05 per Unit (the \"Debt\nSettlements\") including the repricing of the conversion price of the\nDebentures and the exercise price of the associated warrants, as described in\nSSC's news release dated July 28, 2026 (the \"Debenture Amendment\"), has been\nextended to an expected closing date of between October 31, 2026 and November\n30, 2026 to align with the timing discussed above. As of the date hereof, SSC\nhas received elections to convert to Units an aggregate principal amount of\n$2.2 million of Debentures, and agreements finalized or in draft to convert to\nUnits an estimated $1.5 million of Notes. The deadline to elect to convert\nDebentures was July 31, 2026.\n\nClosing of the Financing, Debt Settlements and Debenture Amendment are subject\nto the approval of the TSX Venture Exchange.\n\nParticipation in the Financing and the Debt Settlements by insiders of SSC\nconstitutes a \"related party transaction\" within the meaning of Multilateral\nInstrument 61-101 - Protection of Minority Security Holders in Special\nTransactions (\"MI 61-101\") and Policy 5.9 of the TSX Venture Exchange. SSC\nintends to rely on the exemptions from the formal valuation and minority\nshareholder approval requirements of MI 61-101 contained in sections 5.5(a)\nand 5.7(1)(a) thereof, on the basis that the fair market value of the insider\nparticipation does not exceed 25% of SSC's market capitalization, as\ndetermined in accordance with MI 61-101.\n\nFurther details of the Financing, Debt Settlements and Debenture Amendment are\navailable in SSC's news release dated July 28, 2026.\n\nAbout Simply Solventless Concentrates Ltd.\n\nSSC is a public company incorporated under the Business Corporations Act\n(Alberta). SSC's mission is to provide pure, potent, terpene-rich\nready-to-consume cannabis products to discerning cannabis consumers. For more\ninformation regarding SSC, please see www.simplysolventless.ca.\n\nSimply Solventless Concentrates Ltd.\nJeff Swainson, President and CEO\nPhone: 403-796-3640\nEmail: jeff@simplysolventless.ca\n\nNotice on Forward-Looking Information\n\nAll amounts in this news release are unaudited. See note 1 \"Nature of\noperations and going concern\" in unaudited Q2 2026 financial statements.\n\nThis news release contains forward-looking statements and forward-looking\ninformation (collectively, \"forward-looking statements\") within the meaning of\napplicable securities laws. Any statements that are contained in this news\nrelease that are not statements of historical fact may be deemed to be\nforward-looking statements. Forward-looking statements are often identified by\nterms such as \"may\", \"should\", \"anticipate\", \"will\", \"estimates\", \"believes\",\n\"intends\", \"expects\", \"projected\", \"approximately\" and similar expressions\nwhich are intended to identify forward-looking statements. More particularly\nand without limitation, this news release contains forward-looking statements\nconcerning the completion and timing of the Restructuring, the Financing, the\nDebt Settlements and the Debenture Amendment, including the expectation that\nthey will close on or before October 31, 2026 (or, if delayed, within the\nextended stay period ending November 30, 2026), the receipt of the approval of\nthe TSX Venture Exchange, SSC's ability to close the related transactions\nwithin the extended stay period, the conversion of the Debentures and Notes\ninto Units and the finalization of the remaining commitments and elections,\nthe settlement of the VTB, the use of proceeds of the Financing, the\nanticipated reduction of SSC's debt (including the anticipated reduction of\nSSC's debt by approximately $20.0 million upon exit from the Restructuring,\nthe anticipated achievement of total estimated annual cost reductions of up to\n$7.1 million and the anticipated consolidation from four facilities to two),\nthe approval and expected receipt and timing of the Rebates, the Humble\nretrofit (including the continuation of the Phase 1 yield improvements and the\nimplementation, timing and results of Phase 2), the expected increases in\ncultivation yields, potency and terpene content and the anticipated\nincremental cash flow therefrom, the planned timing of SSC's exit from the\nRestructuring (anticipated on or around October 31, 2026 and in any event on\nor before November 30, 2026), the expected participation of insiders in the\nFinancing, and the anticipated closing of the Financing. SSC cautions that all\nforward-looking statements are inherently uncertain, and that actual\nperformance may be affected by a number of material factors, assumptions and\nexpectations, many of which are beyond the control of SSC, including\nexpectations and assumptions concerning SSC, the receipt and timing of the\nRebate proceeds, the completion, timing and results of the Humble retrofit\n(including the achievement of projected cultivation yields, potency, terpene\ncontent and incremental cash flow and the successful proof of concept for\nPhase 2), the timing of SSC's exit from the Restructuring, the completion of\nthe Financing and the Debt Settlements, the timing and market acceptance of\nproducts, competition in SSC's markets, SSC's reliance on customers,\nfluctuations in interest rates, SSC's ability to maintain good relations with\nits customers, employees and other stakeholders, changes in law or\nregulations, SSC's ability to protect its intellectual property, as well as\nother risks and uncertainties, including those described in SSC's filings\navailable on SEDAR+ at www.sedarplus.ca, including its most recent annual\ninformation form. The reader is cautioned that assumptions used in the\npreparation of any forward-looking statements may prove to be incorrect.\nEvents or circumstances may cause actual results to differ materially from\nthose predicted as a result of numerous known and unknown risks, uncertainties\nand other factors, many of which are beyond the control of SSC. The reader is\ncautioned not to place undue reliance on any forward-looking statements. Such\ninformation, although considered reasonable by management at the time of\npreparation, may prove to be incorrect and actual results may differ\nmaterially from those anticipated. Forward-looking statements contained in\nthis news release are expressly qualified by this cautionary statement. There\ncan be no assurance that the Restructuring will be completed prior to October\n31, 2026, within the extended stay period ending November 30, 2026, or at all.\n\nThe forward-looking statements contained in this news release are made as of\nthe date of this news release, and SSC does not undertake any obligation to\nupdate publicly or to revise any of the included forward-looking statements,\nwhether as a result of new information, future events or otherwise, except as\nexpressly required by securities law.\n\nFuture-Oriented Financial Information\n\nThis news release contains future-oriented financial information and financial\noutlook information (collectively, \"FOFI\") within the meaning of applicable\nsecurities laws, including with respect to the approximately $1.0 million of\nRebates and the expected timing of receipt of the proceeds thereof, the\nexpected increase of approximately 275-300kg per month of additional saleable\nflower from the Phase 1 Humble retrofit and any incremental cash flow\ntherefrom, the anticipated reduction of SSC's debt by approximately $20.0\nmillion upon exit from the Restructuring, the anticipated total estimated\nannual cost reductions of up to $7.1 million, projected cultivation yields,\npotency and terpene content, and the use of proceeds of the Financing. The\nFOFI, including the underlying assumptions, has been approved by management of\nSSC as of the date of this news release and is provided to give readers\ninformation about management's current expectations; it may not be appropriate\nfor other purposes. FOFI is based on assumptions that management believes are\nreasonable as of the date hereof, is subject to the risks, assumptions and\nqualifications described herein and in SSC's filings on SEDAR+ at\nwww.sedarplus.ca, and is qualified in its entirety by the cautionary\nstatements herein. References to incremental cash flow and cultivation yields,\npotency and terpene content are internal management estimates and\nmeasurements, are not measures under IFRS, are unaudited and, in the case of\nPhase 2, remain subject to proof of concept; actual results may differ\nmaterially. SSC does not undertake any obligation to update FOFI except as\nrequired by applicable securities laws.\n\nThe securities referred to in this news release have not been, and will not\nbe, registered under the United States Securities Act of 1933, as amended (the\n\"U.S. Securities Act\"), or any state securities laws, and may not be offered\nor sold within the United States or to, or for the account or benefit of, U.S.\npersons absent registration or an applicable exemption from such registration\nrequirements.\n\nThis news release shall not constitute an offer to sell or the solicitation of\nan offer to buy any securities in any jurisdiction.\n\nNeither TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\nNot for distribution to U.S. news wire services or for dissemination in the\nUnited States.\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/315128"},"type":"article","timestamp":"2026-09-21T11:05:18.956820135Z","server_sent_at_ms":1789988718956},"received_at":"2026-09-21T11:05:19.119Z","source_url":"https://www.newsfilecorp.com/release/315128"},"analysis":{"id":"137010","press_release_id":"148302","analysis_json":{"industry":{"label":"Pharmaceuticals","sector":"Health Care"},"redFlags":["Company remains in CCAA restructuring; release explicitly states no assurance the Restructuring completes by October 31/November 30, 2026 or at all","Going-concern disclosure referenced in unaudited Q2 2026 financial statements","Heavy dilution: up to 20M units at $0.05 plus up to $4.6M of debentures/notes converting to units at $0.05, with two-year warrants at $0.10","Prior Management Cease Trade Order (May 5, 2026) signals past continuous-disclosure default, now revoked","Related-party/insider participation relies on MI 61-101 exemptions from formal valuation and minority approval","Operational downsizing: consolidation from four facilities to two"],"eventType":"restructuring","narrative":"Simply Solventless Concentrates (TSXV: HASH) has charted a path to exit its CCAA restructuring between October 31 and November 30, 2026, with the court stay of proceedings extended from September 30 to November 30, 2026.\n\nUpon exit, management expects debt to be reduced by approximately $20.0 million with up to $7.1 million in annual cost savings. Supporting milestones include the $0.6 million vendor take-back debt settled for $0.1 million, approval of roughly $1.0 million in government rebates, revocation of the Management Cease Trade Order issued May 5, 2026, and Phase 1 Humble retrofit yields tracking about 75% higher (roughly 275-300kg of additional saleable flower per month).\n\nThe recovery is being funded by a non-brokered private placement of up to 20,000,000 units at $0.05 for up to $1.0 million gross ($0.5-$0.7 million committed, $0.2-$0.3 million from insiders), alongside conversion of up to $3.0 million of debentures and $1.6 million of notes into units at the same $0.05 price -- deep dilution for existing shareholders.\n\nNo assurance is given that the restructuring closes on schedule; the release also points to going-concern language in the unaudited Q2 2026 financial statements.","sentiment":"mixed","agentHooks":{"shouldPost":true,"suggestedAngle":"Distressed cannabis micro-cap lines up CCAA exit with a $20M debt haircut and restored trading status, but existing holders pay via $0.05-priced units and debt conversions."},"keyFigures":{"offeringPrice":0.05,"sharesOffered":20000000,"customDimensions":{"warrant_term":"two years","warrant_strike":"$0.10","yield_increase":"75%","vtb_settled_for":"$0.1 million","ccaa_exit_window":"October 31 - November 30, 2026","rebates_approved":"$1.0 million","stay_extended_to":"November 30, 2026","vtb_debt_original":"$0.6 million","gross_proceeds_max":"$1.0 million","vtb_debt_reduction":"$0.5 million","notes_to_settle_max":"$1.6 million","commitments_received":"$0.5-$0.7 million","annual_cost_reduction":"up to $7.1 million","facility_consolidation":"four facilities to two","debt_reduction_expected":"$20.0 million","debentures_to_settle_max":"$3.0 million","debenture_elections_received":"$2.2 million","warrant_acceleration_trigger":"VWAP above $0.18 for five consecutive trading days","insider_participation_expected":"$0.2-$0.3 million","notes_agreements_finalized_or_draft":"$1.5 million","additional_saleable_flower_per_month":"275-300kg"}},"quotedText":"We are reaching an important\ninflection point as we will now proceed to close the various transactions that\nwill ultimately result in SSC emerging from the Restructuring, which was\nundertaken to fundamentally improve and strengthen our business for the\nlong-term.","namedEntities":{"people":[{"name":"Jeff Swainson","role":"President & CEO"}],"products":["dried flower (core cultivars)"],"companies":[{"name":"Simply Solventless Concentrates Ltd.","ticker":"HASH","relationship":"filer"},{"name":"Humble Grow Co.","relationship":"subsidiary"},{"name":"Alberta Securities Commission","relationship":"regulator"},{"name":"TSX Venture Exchange","relationship":"exchange"}],"dollarAmounts":[{"amount":"$1.0 million","context":"government rebates approved for the Humble retrofit"},{"amount":"$1.0 million","context":"maximum aggregate gross proceeds of the $0.05 unit private placement"},{"amount":"$0.6 million","context":"vendor take-back (VTB) debt settled"},{"amount":"$0.1 million","context":"VTB settlement consideration paid in accounts payable"},{"amount":"$20.0 million","context":"anticipated debt reduction upon exit from Restructuring"},{"amount":"$7.1 million","context":"total estimated annual cost reductions"},{"amount":"$0.05 per Unit","context":"price of private placement Units and debt-settlement Units"},{"amount":"$0.10 per share","context":"warrant exercise price attached to Units"},{"amount":"$0.18","context":"VWAP threshold triggering warrant expiry acceleration"},{"amount":"$3.0 million","context":"maximum Debentures to be settled in Units"},{"amount":"$1.6 million","context":"maximum promissory Notes to be settled in Units"},{"amount":"$2.2 million","context":"Debenture principal amount elected to convert to Units"},{"amount":"$1.5 million","context":"Notes covered by finalized or draft conversion agreements"}]},"materialImpact":{"score":4,"reasoning":"Multi-part restructuring milestone package for a distressed micro-cap: a defined CCAA exit window (Oct 31-Nov 30, 2026), ~$20.0 million of expected debt reduction, MCTO revocation restoring normal management trading, and a $0.05 unit financing plus up to ~$4.6 million of debenture/note debt converting to units at $0.05 -- likely >20% dilution at this share price level."},"tickerRelevance":{"others":[],"primary":"HASH"},"globalImportance":28,"audienceRelevance":22,"eventTypeSecondary":["offering","dilution"],"importanceComponents":{"tickerTier":"micro-cap (TSXV)","eventGravity":"CCAA exit path, $20M debt reduction, MCTO revocation","sectorWeight":"cannabis -- niche retail following","dilutionSignal":"heavy -- units and debt settlements at $0.05 with $0.10 warrants","issuerAuthored":true,"regulatoryMilestone":"MCTO revoked; stay extended to Nov 30, 2026"}},"event_type":"restructuring","event_type_secondary":["offering","dilution"],"sentiment":"mixed","material_impact_score":4,"narrative":"Simply Solventless Concentrates (TSXV: HASH) has charted a path to exit its CCAA restructuring between October 31 and November 30, 2026, with the court stay of proceedings extended from September 30 to November 30, 2026.\n\nUpon exit, management expects debt to be reduced by approximately $20.0 million with up to $7.1 million in annual cost savings. Supporting milestones include the $0.6 million vendor take-back debt settled for $0.1 million, approval of roughly $1.0 million in government rebates, revocation of the Management Cease Trade Order issued May 5, 2026, and Phase 1 Humble retrofit yields tracking about 75% higher (roughly 275-300kg of additional saleable flower per month).\n\nThe recovery is being funded by a non-brokered private placement of up to 20,000,000 units at $0.05 for up to $1.0 million gross ($0.5-$0.7 million committed, $0.2-$0.3 million from insiders), alongside conversion of up to $3.0 million of debentures and $1.6 million of notes into units at the same $0.05 price -- deep dilution for existing shareholders.\n\nNo assurance is given that the restructuring closes on schedule; the release also points to going-concern language in the unaudited Q2 2026 financial statements.","key_figures":{"offeringPrice":0.05,"sharesOffered":20000000,"customDimensions":{"warrant_term":"two years","warrant_strike":"$0.10","yield_increase":"75%","vtb_settled_for":"$0.1 million","ccaa_exit_window":"October 31 - November 30, 2026","rebates_approved":"$1.0 million","stay_extended_to":"November 30, 2026","vtb_debt_original":"$0.6 million","gross_proceeds_max":"$1.0 million","vtb_debt_reduction":"$0.5 million","notes_to_settle_max":"$1.6 million","commitments_received":"$0.5-$0.7 million","annual_cost_reduction":"up to $7.1 million","facility_consolidation":"four facilities to two","debt_reduction_expected":"$20.0 million","debentures_to_settle_max":"$3.0 million","debenture_elections_received":"$2.2 million","warrant_acceleration_trigger":"VWAP above $0.18 for five consecutive trading days","insider_participation_expected":"$0.2-$0.3 million","notes_agreements_finalized_or_draft":"$1.5 million","additional_saleable_flower_per_month":"275-300kg"}},"named_entities":{"people":[{"name":"Jeff Swainson","role":"President & CEO"}],"products":["dried flower (core cultivars)"],"companies":[{"name":"Simply Solventless Concentrates Ltd.","ticker":"HASH","relationship":"filer"},{"name":"Humble Grow Co.","relationship":"subsidiary"},{"name":"Alberta Securities Commission","relationship":"regulator"},{"name":"TSX Venture Exchange","relationship":"exchange"}],"dollarAmounts":[{"amount":"$1.0 million","context":"government rebates approved for the Humble retrofit"},{"amount":"$1.0 million","context":"maximum aggregate gross proceeds of the $0.05 unit private placement"},{"amount":"$0.6 million","context":"vendor take-back (VTB) debt settled"},{"amount":"$0.1 million","context":"VTB settlement consideration paid in accounts payable"},{"amount":"$20.0 million","context":"anticipated debt reduction upon exit from Restructuring"},{"amount":"$7.1 million","context":"total estimated annual cost reductions"},{"amount":"$0.05 per Unit","context":"price of private placement Units and debt-settlement Units"},{"amount":"$0.10 per share","context":"warrant exercise price attached to Units"},{"amount":"$0.18","context":"VWAP threshold triggering warrant expiry acceleration"},{"amount":"$3.0 million","context":"maximum Debentures to be settled in Units"},{"amount":"$1.6 million","context":"maximum promissory Notes to be settled in Units"},{"amount":"$2.2 million","context":"Debenture principal amount elected to convert to Units"},{"amount":"$1.5 million","context":"Notes covered by finalized or draft conversion agreements"}]},"model_name":"glm-5.3-flash","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-21T11:15:55.927Z","global_importance":28,"audience_relevance":22,"importance_components":{"tickerTier":"micro-cap (TSXV)","eventGravity":"CCAA exit path, $20M debt reduction, MCTO revocation","sectorWeight":"cannabis -- niche retail following","dilutionSignal":"heavy -- units and debt settlements at $0.05 with $0.10 warrants","issuerAuthored":true,"regulatoryMilestone":"MCTO revoked; stay extended to Nov 30, 2026"}},"durationMs":213072,"modelName":"glm-5.3-flash"}}