Simply Solventless Pushes 2025 Annual Filings to Late August Under Cease Trade Order

Simply Solventless Concentrates Ltd. now expects to file its overdue 2025 annual financial statements by August 21, 2026, more than three months past the deadline, and has asked the Alberta Securities Commission to extend the management cease trade order against its executives to August 28, 2026, the Calgary-based cannabis producer said August 14, 2026.

The TSX Venture-listed company, which trades under the ticker HASH, said in a Newsfile release that its first-quarter 2026 interim filings, covering the three months ended March 31, 2026, are expected to follow by August 28, 2026. The annual filings, which include audited statements for the year ended December 31, 2025, the management’s discussion and analysis, and CEO and CFO certificates, were originally due April 30, 2026.

The cease trade order, issued by the Alberta Securities Commission on May 4, 2026, bars the company’s management from trading its securities until the filings are made and the order is revoked. It does not restrict other shareholders from trading.

Simply Solventless attributed the delay to management time constraints caused by the Companies’ Creditors Arrangement Act proceedings involving three of its wholly owned subsidiaries — ANC Inc., CannMart Inc., and Massive Hash Factory Ltd. — which were granted creditor protection by the Court of King’s Bench of Alberta on February 27, 2026.

How the Filing Delay Unfolded

The current default traces back to April 30, 2026, when Simply Solventless announced it could not meet the annual filing deadline and applied for the management cease trade order. At the time, the company pointed to three factors: the appointment of BDO Canada LLP as its new auditor, which required additional audit procedures; complex accounting matters needing more time to resolve; and the management demands of the CCAA proceedings. It initially expected to file around May 11, 2026.

That date came and went, and the company has since issued biweekly default status reports, as required under the national policy governing management cease trade orders. Under those rules, a defaulting issuer must publish status updates every two weeks for as long as it remains in default, and must file with regulators the same information it provides to its creditors.

In the August 14, 2026 update, the company added a clarification: the delay was not due to BDO Canada LLP’s appointment as auditor. That revises the explanation the company itself gave on April 30, 2026, when the auditor change was listed first among the causes. The company also said it expects no further delays or extension requests beyond the August 28, 2026 MCTO extension now sought, and confirmed there have been no failures to meet the alternative reporting guidelines.

The CCAA Restructuring Behind the Delay

The filing default is running in parallel with a court-supervised restructuring that has reshaped the company. On February 27, 2026, Massive Hash Factory, CannMart, and ANC filed for CCAA protection, with the stay of proceedings extended to Simply Solventless itself and its fourth subsidiary, Humble Grow Co. MNP Ltd. was appointed monitor.

On July 28, 2026, the company announced court approval of transactions that would let the subsidiaries exit CCAA protection. Under the approved plan, Simply Solventless consolidates from four operating facilities to two: the Humble cultivation platform and ANC’s manufacturing and fulfillment operations. Massive Hash Factory has been shut down, and CannMart is being sold to an arm’s-length third party, with all material assets and revenue-generating operations of both moved to Humble and ANC.

The restructuring contemplates a debt reduction of up to $20.6 million and a cut in operating and debt-service costs of up to $7.1 million per year, according to the company’s July 28, 2026 release. Secured convertible debentures with $5.975 million outstanding and bearing 11.0% annual interest are being amended and partially converted to equity, and the company launched a non-brokered private placement of up to 20 million units at $0.05 per unit for gross proceeds of up to $1.0 million. The company put its consolidated gross revenue run rate at approximately $2.8 million to $3.1 million per month, against a break-even run rate of roughly $2.6 million per month.

What Happens Next

The company has laid out a sequence of dated commitments. The 2025 annual filings are expected by August 21, 2026. The first-quarter 2026 filings are expected by August 28, 2026, the same date to which the company has asked the Alberta Securities Commission to extend the management cease trade order. Management remains barred from trading until the filings are made and the order is revoked.

On the restructuring track, emergence from CCAA protection is expected by the earlier of the closing of the private placement and the restructuring transactions (both subject to TSX Venture Exchange approval) or September 30, 2026. The private placement itself was expected to close on or around August 15, 2026. Biweekly default status reports will continue for as long as the company remains in default of its filing requirements.