SSC Sets Timeline for Restructuring Exit

Simply Solventless Concentrates Ltd. (SSC), a public company incorporated under the Business Corporations Act (Alberta), has announced a series of significant milestones and events that collectively chart the path towards exiting its previously announced restructuring ("Restructuring") between October 31, 2026, and November 30, 2026. These milestones and events include the approval (and pending receipt) of $1.0 million of government rebates ("Rebates"), the settlement of $0.6 million of vendor take-back debt ("VTB") for $0.1 million (a reduction of $0.5 million), continued strong retrofit cultivation results at Humble Grow Co. ("Humble"), equating to an increase in yield of 75%, the revocation of the previously announced Management Cease Trade Order ("MCTO"), and the extension of the previously announced Restructuring stay of proceedings to November 30, 2026. SSC also provided updates regarding the previously announced non-brokered private placement of up to 20,000,000 units of SSC ("Units") at a price of $0.05 per Unit for aggregate gross proceeds of up to $1.0 million (the "Financing"), and the settlement of portions of SSC's convertible debentures ("Debentures") and promissory notes ("Notes") for Units.

On September 15, 2026, SSC received approval for rebates totalling approximately $1.0 million in relation to the previously announced Humble retrofit. The proceeds from these rebates are expected to be received in late September or early October 2026. The previously announced $0.6 million VTB has been settled for $0.1 million in accounts payable, reducing debt by $0.5 million. Phase 1 of the Humble retrofit, which involved the installation of new LED lights, has seen whole dried flower yields continue to track at approximately 75% higher than trailing 6-month pre-Phase 1 yields, equating to approximately 275-300kg per month of additional saleable flower. Phase 2 of the retrofit, which includes the implementation of new genetics and optimization of environmental control systems, is currently underway, with commercial production having been commenced on six new cultivars, capable of delivering high yield, potency, and terpene content. While still subject to proof of concept, SSC is encouraged by the potential of Phase 2 to further increase yields at nominal capital expense. The previously announced Management Cease Trade Order ("MCTO") under National Policy 12-203 issued on May 5, 2026, by the Alberta Securities Commission, SSC's principal regulator, has been revoked following the filing of the continuous disclosure documents that gave rise to the default. The MCTO dictated that management of SSC must not trade in securities of SSC. The MCTO did not affect the ability of other shareholders of SSC to trade in securities of SSC. The previously announced stay of proceedings related to the Restructuring has been extended from September 30, 2026 to November 30, 2026, providing for additional time for SSC to close all of the related transactions, if required.

The previously announced $0.05 Unit Financing is proceeding, with $0.5-$0.7 million of commitments received to date. SSC believes that the Financing will ultimately be fully subscribed. SSC expects insider participation in the Financing of approximately $0.2 million to $0.3 million. Each Unit is comprised of one common share of SSC and one common share purchase warrant of SSC (a "Warrant"), with each Warrant being exercisable for one common share of SSC at a price of $0.10 per share for a period of two years from the issuance date. The expiry date of the Warrants is subject to acceleration if the volume-weighted average trading price of the common shares of SSC on the TSX Venture Exchange exceeds $0.18 for at least five consecutive trading days. All securities issued under the Financing and Debt Settlements (as defined below) will be subject to a hold period expiring four months and one day from the date of issuance. No finder's fees are payable in connection with the Financing.

The previously announced settlement of up to $3.0 million Debentures and up to $1.6 million of Notes of SSC in Units at a price of $0.05 per Unit (the "Debt Settlements") including the repricing of the conversion price of the Debentures and the exercise price of the associated warrants, as described in SSC's news release dated July 28, 2026 (the "Debenture Amendment"), has been extended to an expected closing date of between October 31, 2026 and November 30, 2026 to align with the timing discussed above. As of the date hereof, SSC has received elections to convert to Units an aggregate principal amount of $2.2 million of Debentures, and agreements finalized or in draft to convert to Units an estimated $1.5 million of Notes. The deadline to elect to convert Debentures was July 31, 2026.

Closing of the Financing, Debt Settlements and Debenture Amendment are subject to the approval of the TSX Venture Exchange. Participation in the Financing and the Debt Settlements by insiders of SSC constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") and Policy 5.9 of the TSX Venture Exchange.