Simply Solventless Provides Update on Filing of 2025 Annual Financial Statements, Q1 Financial Statements, Related Management's Discussion and Analysis and Management Cease Trade Order
Rhea-AI Summary
Simply Solventless (OTC:SSLCF, TSXV:HASH) updated investors on delayed 2025 annual and Q1 2026 financial filings and its management cease trade order (MCTO).
The company expects to file all outstanding statements by June 18, 2026 and has asked regulators to extend the MCTO to that date.
Positive
- Targets completion of 2025 annual and Q1 2026 filings by June 18, 2026
- Management cease trade order restricts only management, not other shareholders’ trading
- Company states there have been no material changes since April 30, 2026 default notice
- Clarifies audit and filing delays are not due to appointment of new auditor
- Other than items disclosed, company reports it is current with filing obligations
Negative
- Missed deadline for 2025 annual financial statements and MD&A
- Will miss May 31, 2026 deadline for Q1 2026 financial statements and MD&A
- Management cease trade order in place and requested extended to June 18, 2026
- Filing delays linked to Companies’ Creditors Arrangement Act proceedings involving subsidiaries
- Missed required biweekly default status update on May 26, 2026
AI-generated analysis. How Rhea-AI works. Not financial advice.
Calgary, Alberta--(Newsfile Corp. - May 28, 2026) - Simply Solventless Concentrates Ltd. (TSXV: HASH) ("SSC" or the "Company") provides an update regarding the filing of its audited annual financial statements for the year ended December 31, 2025, the related management's discussion and analysis, and related CEO and CFO certificates (the "Annual Filings"), and its previously announced management cease trade order ("MCTO") issued by the Company's principal regulator, the Alberta Securities Commission ("ASC"), under National Policy 12-203 – Management Cease Trade Orders ("NP 12-203") on May 4, 2026.
The Company expects to file the Annual Filings on or before June 18, 2026. In addition, the Company announces that it will not be in a position to file its interim financial statements for the three months ended March 31, 2026, the related management's discussion analysis, and related CEO and CFO certificates (the "Q1 Filings") by the required deadline of May 31, 2026. The Company expects to file the Q1 Filings by June 18, 2026. The Company has requested that the ASC extend the MCTO to June 18, 2026.
The delay in completing and filing the Annual Filings and Q1 Filings is due to management time constraints caused by the previously announced Companies' Creditors Arrangement Act (Canada) proceedings involving the Company's wholly owned subsidiaries, ANC Inc., CannMart Inc. and Massive Hash Factory Ltd. The Company continues to work diligently with its auditor to complete the outstanding audit matters in a timely manner.
As previously announced, pursuant to the MCTO, Management of the Company may not trade in securities of the Company until such time as the Company files the Annual Filings and Q1 Filings and the MCTO is revoked. The MCTO does not affect the ability of other shareholders of the Company to trade in securities of the Company. The Company 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 it remains in default of the above-noted filing requirements.
The Company confirms that there have been no material changes to the information contained in the default announcement issued on April 30, 2026 that would reasonably be expected to be material to an investor, except the Company would like to clarify that any delay in the filing or audit was not due to its appointment of BDO Canada LLP as the new auditor of the Company. Other than the failure by the Company to file a bi-weekly default status update on May 26, 2026, there has not been any failures by the Company to fulfill its stated intentions with respect to satisfying the provisions of the alternative reporting guidelines under NP 12-203.
Other than as disclosed herein, the Company is up to date in its filing obligations.
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.
Additional Information
For additional information regarding SSC, please contact Simply Solventless Concentrates Ltd., Jeff Swainson, President and CEO, Email: jeff@simplysolventless.ca
Reader Advisory
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly, and without limitation, this news release contains forward-looking statements and information concerning the anticipated filing of the Annual Filings and Q1 Filings.
SSC believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because SSC can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to inherent risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed.
Neither the TSXV nor its Regulation Services Provider 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/299336