Company Announcements

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CALGARY, AB , June 16, 2025 /CNW/ - Simply Solventless Concentrates Ltd. (TSXV: HASH) ("SSC" or the "Company") is pleased to announce that it has reached an agreement with Natura Life + Science ("Natura"), a California cannabis company, to launch Sluggers, the legendary northern California cannabis brand, in Canada. Sluggers' U.S. based website is as follows: https://sluggers.com/. SSC is also pleased to provide an update regarding changes made to its executive team, the timing of filing its first quarter results ("Financials") for the three months ended March 31, 2025, and an update on its previously announced management cease trade order ("MCTO") under National Policy 12-203 – Management Cease Trade Orders ("NP 12-203") initially issued by the Alberta Securities Commission, the Company's principal regulator, on May 5, 2025, and subsequently updated by SSC through press releases issued on April 30, 2025, May 14, 2025, May 20, 2025, and June 2, 2025.

Sluggers

The Sluggers brand was built by cannabis culture and community leaders, and is known for premium pre-rolls, vapes, and flower. With a passionate fan base, Sluggers has been setting the standard in the U.S. cannabis market, bringing consistent, innovative and high-quality products to a wide base of consumers.

Sluggers has rapidly expanded across multiple states, and they are now leveraging ANC Inc.'s leading manufacturing capability to bring Sluggers' exceptional products to Canada. ANC Inc. is a wholly owned subsidiary of SSC.

According to Headset data:

• Sluggers is #1 in units sold in California for 3.5g pre-roll packs, including being the #2 infused pre-roll brand on 4/20. Currently, Sluggers sells over a million pre-rolls per month.
• Sluggers has achieved 600% year over year growth in vape sales.

The initial Sluggers product launches coming in July are as follows:

• Bubble Bath Juiced Hash & Diamond Infused Kief Coated 5-pack pre-roll in Ontario, Saskatchewan, and Manitoba.
• Fire OG Hash & Diamond Infused Glass Tip 1.5g pre-roll in Ontario, Saskatchewan, and Manitoba.

Under the terms of the agreement, SSC has exclusivity on distribution of the the Sluggers brand in Canada. SSC will retain 75% of the net income generated from the sale of the Sluggers products. SSC will provide all raw materials and Natura will pay for all sales and marketing activities. 

Jeff Swainson, SSC's President & CEO, stated: "We are thrilled to bring the iconic Sluggers brand to Canada, as we anticipate that it will generate the same level of enthusiasm and customer connection in Canada as it does in the U.S." 

Executive Change

Jeff Holmgren, SSC's Chief Financial Officer ("CFO"), is no longer with SSC. SSC thanks Mr. Holmgren for his contributions and wishes him the best in his future endeavours. 

The timing of filing SSC's Financials, including the related management's discussion and analysis and officer certificates (collectively, the "Required Filings"), will not be impacted and it is anticipated they will be released on June 20, 2025, as previously disclosed. SSC has engaged Lachlan McLeod, a seasoned cannabis executive, through his firm Stornoway CPA, to assist with the Q1 2025 Financials and certain other accounting and finance duties until such time as a permanent CFO is appointed. 

Upcoming CFO Appointment

SSC is in the final stages of executing an employment contract with a highly experienced individual who upon execution of the employment agreement will be appointed as SSC's CFO subsequent to expiration of his notice period with his current employer. 

Q1 2025 Filing Timeline & MCTO Update

The Company expects to file the Required Filings on or before June 20, 2025. Should this timing change, an update will be provided. The MCTO will remain in effect until the Company files the Required Filings.

As previously announced, pursuant to the MCTO, Management of the Company may not trade in securities of the Company until such time as the Company files the Required Filings and the MCTO is revoked. The MCTO does not affect the ability of other shareholders of the Company to trade in securities of the Company. The Company confirms that it will satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing biweekly default status reports in the form of news releases for so long as it remains in default of the above-noted filing requirements.

The Company confirms that, except as publicly disclosed by the Company in its press releases: (a) there have been no material changes to the information contained in the default announcement issued on April 30, 2025 (the "Default Announcement") that would reasonably be expected to be material to an investor; (b) there have been no failures by the Company to fulfill its stated intentions with respect to satisfying the provisions of the alternative reporting guidelines under NP 12-203; (c) there has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Default Announcement; and (d) there is no other material information concerning the affairs of the Company that has not been generally disclosed.

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", "approximately" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward looking statements concerning initial Sluggers product launches, Sluggers product quality, the innovative nature of Sluggers products, the consistency of Sluggers products, consumer enthusiasm regarding Sluggers, the potential following, popularity, and customer connection related to Sluggers, future CFO appointments, and the timing of filing the Required Filings and MCTO. 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, 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 its 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 TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Simply Solventless Concentrates Ltd.