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Calgary, Alberta--(Newsfile Corp. - March 2, 2026) - Simply Solventless Concentrates Ltd. (TSXV: HASH) ("SSC") announces that Plaza Capital ("Plaza"), SSC's largest secured convertible debenture ("CD") holder, and Altek Acquisition Partnership ("AAP"), SSC's largest promissory note ("PN") holder (and one of SSC's largest shareholders), intend to enter into agreements to support SSC's restructuring announced on February 27, 2026 ("Restructuring"), which is meant to preserve both shareholder and stakeholder value. For further details of the Restructuring, please see the following link: SSC February 27, 2026 News Release (Restructuring).

The CDs are second secured position behind the PNs. Plaza holds $3.0 million of the $6.0 million CDs, and as collateral agent they have decision making authority to act on all behalf of all CD holders.

The PNs are senior secured position. AAP holds $1.0 million of the $2.3 million PNs. AAP is also one of SSC's largest shareholders.

Together, Plaza and AAP represent 84% of SSC's secured debt. The endorsement and support of Plaza and AAP ensure that the Restructuring may be completed in the most efficient manner possible.

Sruli Weinreb, Managing Partner of Plaza stated: "As SSC's largest CD holder and as collateral agent, Plaza endorses the Restructuring as we believe it will preserve and enhance shareholder and creditor value, as these processes are intended to strengthen the balance sheet of companies while maximizing profitability of an emerging entity. Plaza is committed to support SSC as it advances through the Restructuring."

Mike Atema, CEO of AAP, stated: "As one of SSC's largest shareholders, and the largest promissory note holder, AAP is supportive of the Restructuring and believes it will benefit both of these positions. The Restructuring will ensure that SSC's operations are streamlined, efficient, and unencumbered by historical and unsustainable liabilities. AAP will support the Restructuring so that SSC can proceed on a solvent basis and achieve its potential for the benefit of all stakeholders."

Jeff Swainson, SSC's President & CEO stated: "The Restructuring is being conducted to protect SSC's subsidiaries from CRA enforcement action, which would have resulted in the loss of CRA excise licenses and our ability to sell cannabis products. Our subsidiaries are now protected and will maintain their licenses and revenue generation capability for the duration of the Restructuring."

Swainson continued: "The Humble retrofit is mission critical, as are other components of our business plan. With the protection of the Restructuring, along with Plaza and AAP's commitment to support the Restructuring, SSC can continue to execute on its business plan, including the Humble retrofit."

Swainson continued: "The proposed sale and investment solicitation process ("SISP") is not a liquidation of assets at the SSC parent company or subsidiary level. It is a restructuring of subsidiaries which are then offered for sale in a competitive process without historical and unsustainable liabilities, conducted with the goal of achieving maximum value, whether those assets are retained or sold. The SISP relates specifically to MHF, CannMart, and ANC (the "SISP Entities"), and the SISP does not necessarily mean that any or all SISP Entities will ultimately be sold to a third party, as that depends on the bids received. If any of those entities are sold, it will be for a fair price, and SSC will benefit from the proceeds. SSC's management oversees the SISP process with oversight from the monitor, MNP Ltd., and any successful bids would be approved by the court."

Swainson continued: "As SSC and Humble are not part of the SISP, we expect that SSC will continue to trade, and that Humble will be retained, along with any combination of SISP Entities, depending on the bids received. While the process is in early stages, as SSC's largest shareholder, I believe that this restructuring is in the best interests of all of our shareholders and stakeholders, and we will work hard to ensure that the best possible outcome is achieved."

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.

Notice on Forward-Looking Information

This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends", "expects", "projected" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward-looking statements concerning Plaza's and AAP's support of the Restructuring, the impact of the Restructuring on SSC and its subsidiaries, SSC's shares continuing to trade on the TSXV during the Restructuring, the impact of the Restructuring on the business of the SSC Entities and on Stakeholders, debtor in possession financing, and Court approval of the Sale Process. SSC cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of SSC, including expectations and assumptions concerning SSC, obtaining requisite Court approvals, the terms of the support agreements to be entered into with Plaza and AAP, the ability to maintain relationships with customers, employees and suppliers, the timing and market acceptance of products, competition in SSC's markets, SSC's reliance on customers, fluctuations in interest rates, SSC's ability to maintain good relations with its customers, employees and other stakeholders, changes in law or regulations, SSC's ability to protect its intellectual property, as well as other risks and uncertainties, including those described in SSC's filings available on SEDAR+ at www.sedarplus.ca including SSC's most recent annual information form. The reader is cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of SSC.

The reader is cautioned not to place undue reliance on any forward-looking statements. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release are made as of the date of this press release, and SSC does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) 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/285890