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Eat Well files late financials, seeks reinstatement

2026-05-06 19:51 ET - News Release

Mr. Daniel Brody reports

EAT WELL COMPLETES ALL OUTSTANDING FINANCIAL DISCLOSURE OBLIGATIONS AND SUBMITS APPLICATION TO RESUME TRADING

Eat Well Investment Group Inc. has completed outstanding continuous disclosure obligations and submitted its application to the British Columbia Securities Commission (BCSC) and the Ontario Securities Commission (OSC) to seek a full revocation of its cease trade order (CTO) and resume trading on the Canadian Securities Exchange.

The company has filed its audited consolidated financial statements and accompanying management's discussion and analysis (MD&A) for the fiscal years ended Dec. 31, 2023, Dec. 31, 2024, and Dec. 31, 2025, as well as unaudited quarterly condensed interim consolidated financial statements and MD&As for all quarters of fiscal 2024 and fiscal 2025. All filings are available on SEDAR+.

FY (fiscal year) 2025 financial highlights

For the fiscal year ended Dec. 31, 2025, the company reported:

  • Revenue of $53.2-million (FY 2024: $54.3-million);
  • Gross profit of $6.9-million, a 16-per-cent improvement over FY 2024 gross profit of $5.9-million;
  • Net loss of $6.1-million, improved from $7.0-million in FY 2024, including $2.8-million in one-time refinancing fees;
  • Cash of $6.6-million at Dec. 31, 2025, up from $4.6-million at Dec. 31, 2024.

The improvement in gross profit reflects continued focus on processing margin, operational efficiency and disciplined cost management across the company's facilities in Saskatchewan, Canada, and Montana, U.S. Revenue was modestly lower year over year, consistent with commodity market dynamics and the broader pulse pricing environment.

"Filing our FY 2025 audit on time and submitting our application to resume trading is a significant step in getting the company back on track. We've rebuilt our entire financial reporting infrastructure from the ground up and today's filing brings us completely current across every outstanding obligation. The numbers tell a straightforward story, gross profit up 16 per cent, cash up and net loss down, which includes the $2.8-million one-time refinancing fees and non-cash costs such as depreciation and amortization.

"We operate in a cyclical industry and FY 2025 reflects that, but more importantly, it reflects a business trending in the right direction. Additionally, the policy environment on both sides of the border is as constructive as it's ever been for what we do. The U.S. has committed over $13-billion to farmer support and food supply security, the Make America Healthy Again (MAHA) movement is driving real consumer and policy momentum toward clean, whole-food protein sources like pulses; and Canada has named pulses a priority sector for market diversification, including a commitment from Farm Credit Canada to deploy $5-billion of new capital into Canadian agriculture by 2030. We operate in both markets, we process in both countries and we are directly in the path of these tailwinds.

"We've divested non-core assets, sharpened our focus entirely on sustainable agriculture and food security, and restored the reporting standards this company needs to operate at the level our shareholders deserve. To those shareholders: your patience has been appreciated and it won't be forgotten. More to come soon," commented Daniel Brody, president, chief executive officer and director.

About Eat Well Group Investment Group Inc.

Eat Well Investment is a Canadian agribusiness company operating pulse processing facilities in Saskatchewan, Canada, and Montana, U.S. The company processes and distributes premium lentils, peas and other pulse crops to customers across more than 35 countries. Backed by over 50 years of operational history and a team of over 50 employees, Eat Well is focused on sustainable agriculture and the growing global demand for high-quality proteins.

We seek Safe Harbor.

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