/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED
STATES./
CALGARY,
AB, Oct. 28, 2024 /CNW/ - Simply Solventless
Concentrates Ltd. (TSXV: HASH) ("SSC") is pleased to announce that
further to its press releases dated September 26, 2024 and October 18, 2024, it expects approximately 98% of
the August 2026 $0.20 warrants to be exercised for proceeds of
approximately $2,950,000. SSC also
announces that for administrative purposes and varying financial
institution purposes it has extended the expiry of the August 2026 warrants to November 29, 2024.
As of the date of this news release, a total of 10,087,034 of
the 14,844,910 August 2026 warrants have been exercised for
proceeds of $2,017,407 and a total of
3,986,077 warrants are in the process of being exercised for
proceeds of $797,215, with completion
of the remaining exercises expected in the very near future.
In total, 14,844,910 August 2026 warrants are expected to be
exercised for proceeds of $2,968,982
(the "Total Warrant Exercises"). Of the Total Warrant
Exercises, insiders account for approximately 4.0 million warrants
and proceeds of approximately $800,000.
Jeff Hall, SSC's Chief Financial
Officer, stated: "We have received a very positive response from
warrant holders, and we expect 98% of the August 2026 warrants to ultimately be exercised.
We want to ensure that warrant exercises in process do not expire
due to administrative delays, and for that reason we have extended
the expiry of the warrants to November 30,
2024. We are grateful for the support of our shareholders,
and we aim to create value for them through continued profitable
organic revenue growth and opportunistic acquisitions."
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 the number
of 2026 Warrants exercised revenue growth, SSC completing
opportunistic acquisitions, capitalizing on SSC's business plan and
SSC's results of operations and performance. SSC cautions that all
forward-looking statements are inherently uncertain, and that
actual performance may be affected by a number of material risks,
factors, assumptions and expectations, many of which are beyond the
control of SSC, including expectations and assumptions concerning
SSC, the ability to maintain relationships with customers,
employees and suppliers, 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. 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.