Mr. Jeff Swainson reports

SIMPLY SOLVENTLESS PROVIDES RESTRUCTURING UPDATE, INCLUDING EXPECTED TIMING, AND ANNOUNCES MANAGEMENT CHANGE

Simply Solventless Concentrates Ltd. has provided an update regarding the previously announced restructuring of Massive Hash Factory Ltd. (MHF), CannMart Inc. and ANC Inc. (the CCAA (Companies' Creditors Arrangement Act) applicants), including expected timing, and made a management change.

Restructuring update: DIP (debtor-in-possession) financing and SISP (sales and investment solicitation process) approval

On March 27, 2026, the Court of King's Bench of Alberta granted orders to, among other things:

• Authorize Simply Solventless to borrow under a credit facility from 1001546386 Ontario Inc. up to $1.5-million unless permitted by further order of the court (the DIP financing); the DIP financing is intended to finance the CCAA applicants' working capital requirements, general corporate purposes and capital expenditures through the restructuring;
• Authorize the monitor, in close consultation with the CCAA applicants, to conduct a sales and investment solicitation process (SISP) to solicit investment into or offers for the business or property of the CCAA applicants, in whole or in part.

The SISP is expected to be concluded by May 15, 2026, with the approval application hearing expected to be undertaken in relatively short order thereafter.

For further information regarding the DIP and SISP, please see the monitor's website.

Management change

Simply Solventless Concentrates announces that Ananth Krishnan has stepped down from his position as chief financial officer to pursue a new opportunity. During his time at Simply Solventless, Mr. Krishnan demonstrated strong leadership, commitment to the company's financial and strategic goals, and dedication to the company's employees. Simply Solventless is grateful for Mr. Krishnan's contributions to the business and for the fact that he has built a solid and capable finance team that has ensured a seamless transition as Simply Solventless moves forward. The company wishes him well in his future endeavours.

Lachlan McLeod, CPA, Simply Solventless's financial reporting consultant since June, 2025, will be appointed to the position of CFO in the coming weeks (subject to requisite approvals). Mr. McLeod is the founder of the financial consultancy Stornoway Consulting Corp., which provides CFO and accounting services. He previously served as the chief financial officer, corporate secretary and interim chief executive officer of Adastra Holdings Ltd. and has over 10 years of accounting and finance experience. Mr. McLeod holds a BS in economics and business from the University of Victoria, along with a diploma in accounting from the Sauder School of Business at the University of British Columbia.

Simply Solventless is currently evaluating further streamlining and cost-saving measures and will provide further updates as they become available.

About Simply Solventless Concentrates Ltd.

Simply Solventless is a public company incorporated under the Business Corporations Act (Alberta). Simply Solventless's mission is to provide pure, potent, terpene-rich ready-to-consume cannabis products to discerning cannabis consumers.

We seek Safe Harbor.