Simply Solventless Commences Restructuring Process for the Benefit of Shareholders and Stakeholders

Core Viewpoint - Simply Solventless Concentrates Ltd. (SSC) has initiated a restructuring process aimed at maximizing value and strengthening the balance sheet for its shareholders and stakeholders [1] Restructuring Process - SSC's wholly owned subsidiaries, Massive Hash Factory Ltd. (MHF), CannMart Inc. (CannMart), and ANC Inc. (ANC), have been granted creditor protection under the Companies' Creditors Arrangement Act (Canada) [2] - The stay of proceedings has been extended to SSC's fourth subsidiary, Humble Grow Co. (Humble), ensuring an orderly completion of the restructuring [2] - Business operations of the SSC Entities are expected to continue without interruption during the CCAA Proceedings [2] Court Proceedings - The CCAA Proceedings were initiated by an order from the Court of Kings Bench of Alberta, which appointed MNP Ltd. as the monitor to oversee the process [3] Reason for Restructuring - The board of directors determined that the restructuring is in the best interests of stakeholders, providing time and stability to evaluate potential restructuring alternatives [4] Initial Order Details - The Initial Order includes a stay of creditor claims for an initial period of 10 days, subject to extension by the Court [5] Sale and Investment Solicitation Process - SSC intends to seek Court approval for a sale and investment solicitation process as part of the CCAA Proceedings, excluding the Stayed Entities [6] Financing for Proceedings - SSC expects to seek approval for debtor-in-possession financing to help fund the CCAA Proceedings [7] Company Overview - Simply Solventless Concentrates Ltd. is a public company focused on providing pure, potent, terpene-rich cannabis products to consumers [8]