Calgary, Alberta--(Newsfile Corp. - May 12, 2026) - 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, 2025, 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 , under National Policy 12-203 - Management Cease Trade Orders ("NP 12-203") on May 4, 2026.

The Company plans to file its Financials on or before May 29, 2026, and the Company has received ASC approval to extend the MCTO to such date.

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 Financials 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, 2026 (the "Default Announcement") that would reasonably be expected to be material to an investor except the Company would like to clarify that any delay in the filing or audit was not due to its appointment of BDO Canada LLP as the new auditor and retracts any statement to the contrary in the Default Announcement; (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.

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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 Financials.

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.

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