Mr. Christian Bullock reports

PUREBREAD BRANDS INC. FURTHER REDUCES LIABILITIES BY $3.8 MILLION

Purebread Brands Inc. has further strengthened its balance sheet position through termination of its lease for the commercial kitchen premises located at 1623 Pandora St., Vancouver, B.C., formerly operated by its subsidiary, Coho Collective Kitchens Inc.

Under the terms of a lease termination and settlement agreement, the company's obligations under the lease were terminated in consideration for payment by the company of $34,717.10, payable over 18 months. As a result of the termination, the company has removed the following liabilities from its balance sheet:

• Rent liability: $745,002.38;
• Lease liability: $3,088,165.57.

"We're pleased to have reduced our liabilities by a further $3.8-million, marking another important step in strengthening the company's balance sheet. We remain focused on continuing to drive down liabilities while positioning Purebread Bakery for its next phase. With a stronger financial foundation in place, our focus is increasingly shifting toward growth, expanding the Purebread brand and building the business for the long term," said Christian Bullock, chief executive officer of Purebread Brands.

The company's board of directors and management believe that the termination of the lease and removing these liabilities will allow the company to focus its resources on its core operations and continuing retail expansion plans.

About Purebread Brands Inc.

Purebread Brands is Canada's premium artisan bakery and cafe brand, operating seven locations across British Columbia and building a national platform for premium baked goods and cafe experiences. With a vision to grow nationally, Purebread is building the team and infrastructure to drive retail expansion in vibrant communities across Canada and beyond.

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