Purebread Brands Inc. Reduces Liabilities by $3.8 Million

Purebread Brands Inc., a leading artisan bakery and cafe brand in Canada, has further strengthened its balance sheet by reducing its liabilities by $3.8 million through the termination of a lease agreement for its commercial kitchen premises located at 1623 Pandora St, Vancouver, BC.

According to the terms of the lease termination and settlement agreement, Purebread Brands Inc. paid $34,717.10 to its subsidiary, Coho Collective Kitchens Inc., over an 18-month period. As a result, the company has removed significant liabilities from its balance sheet, specifically the Rent Liability of $745,002.38 and the Lease Liability of $3,088,165.57.

Christian Bullock, the Chief Executive Officer of Purebread Brands Inc., expressed satisfaction with the outcome. "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."

The company's board of directors and management believe that the termination of the lease and the removal of these liabilities will allow the company to focus its resources on its core operations and ongoing retail expansion plans. Purebread Brands Inc. operates seven locations across British Columbia and is building the team and infrastructure to drive retail expansion in vibrant communities across Canada and beyond.

The reduction in liabilities is part of a broader strategy to enhance the company's financial health and operational flexibility. By streamlining its operations and reducing overhead costs, Purebread Brands Inc. aims to improve its overall performance and position itself for future growth opportunities. The company's commitment to financial prudence and strategic growth is evident in this latest move, which is expected to contribute positively to its long-term prospects.

The press release, dated September 18, 2026, provides a detailed account of the lease termination and the financial impact on Purebread Brands Inc. The release also highlights the company's ongoing efforts to strengthen its balance sheet and drive long-term growth.