Mr. Stephen Giblin reports

BIG ROCK BREWERY INC. ANNOUNCES EXTENSION OF MATURITY DATE OF $4.3MM SECOND LIEN FINANCING

Big Rock Brewery Inc. has extended the maturity of its $4.3-million second lien financing arrangements with VN Capital Fund I LP from Dec. 2, 2023, to June 30, 2024.

VN Capital and Big Rock have agreed that the focus for the corporation will remain on ensuring sufficient working capital remains in the business as it continues to make progress during fiscal 2023 and through the first half of fiscal 2024. The second lien financing will continue to backstop the corporation's access to liquidity.

"The extension was an important step in the execution of our strategic plan and this facility is integral to the capital structure of Big Rock as we continue to improve our operating results and work towards the completion of the strategic review announced in March of this year," noted interim president and chief executive officer Stephen Giblin.

VN Capital is a principal shareholder and insider of the corporation and P. Donnell Noone, a director of Big Rock, is a co-founder, principal and managing partner of VN Capital Management LLC, the manager of VN Capital. The board of directors approved (with Mr. Noone abstaining) the extension and such directors also determined that the extension is on reasonable commercial terms that are not less advantageous to Big Rock than if the loan thereunder was obtained from a person dealing at arm's length with Big Rock.

We seek Safe Harbor.