SIMPLY SOLVENTLESS PROVIDES UPDATE ON FILING OF 2024 ANNUAL FINANCIAL STATEMENTS AND RELATED MANAGEMENT'S DISCUSSION AND ANALYSIS AND MANAGEMENT CEASE TRADE ORDER

CALGARY, AB, May 14, 2025 /CNW/ - Simply Solventless Concentrates Ltd. (TSXV: HASH) ("SSC" or the "Company"), provides an update regarding the filing of its audited annual financial statements for the year ended December 31, 2024, the related management's discussion and analysis, and related CEO and CFO certificate ("Financials"), and its previously announced management cease trade order ("MCTO") issued by the Company's principal regulator, the Alberta Securities Commission, the British Columbia Securities Commission, the Financial and Consumer Affairs Authority of Saskatchewan and the Ontario Securities Commission, under National Policy 12-203 – Management Cease Trade Orders ("NP 12-203") on April 30, 2025.

The Company is working towards filing its Financials on May 21, 2025. Should this timing change, an update will be provided. The MCTO will remain in effect until the Company files its Financials.

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 Documents 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 (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.

Other than as disclosed herein, the Company is up to date in its filing obligations.

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.

Reader Advisory

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Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly, and without limitation, this news release contains forward-looking statements and information concerning the anticipated filing of the financial statements and the approval of the management cease trade order by the ASC.

SSC believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because SSC can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to inherent risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed.

Neither the TSXV nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE Simply Solventless Concentrates Ltd.

For additional information regarding SSC, please contact Simply Solventless Concentrates Ltd., Jeff Swainson, President and CEO, Email: [email protected]