Simply Solventless Concentrates (HASH) Q1 2026 earnings summary

Executive summary

• Filed Q1 2026 financials and plans to file Q2 2026 financials by August 31, 2026.

• Undergoing a restructuring process expected to reduce debt by up to $19.9 million and annual costs by up to $7.1 million.

• Restructuring impacts will be reflected in Q3 2026 financials if closed before September 30, 2026.

Significant events and developments

• Management cease trade order (MCTO) extended, expected to be revoked within two business days after Q1 filings.

• No anticipated further defaults; ongoing biweekly updates until MCTO is revoked.

Capital allocation and financing

• Extended private placement for up to 20 million units at $0.05 per unit, targeting $1 million gross proceeds.

• Debt settlement includes up to $3 million in convertible debentures and $1.6 million in promissory notes at $0.05 per unit.

• Debenture conversion price amended from $1.00 to $0.15 per share; warrant exercise price reduced from $1.20 to $0.25 per share.

• $0.5 million in subscriptions received and $2.2 million in debenture conversions elected as of the announcement.

• Proceeds to be used for restructuring fees, excise taxes, deposits, and working capital.