Management
Simply Solventless Provides Restructuring Update, Including Expected Timing, and Announces Management Change
Restructuring update provides clarity on SISP timeline and appoints experienced CFO
Executive Summary
- On April 6 2026, Simply Solventless Concentrates Ltd. (SSC) announced a Court of King’s Bench‑approved debtor‑in‑possession (DIP) financing facility up to $1.5 million from 1001546386 Ontario Inc., intended for working capital, general corporate purposes and capital expenditures during the CCAA restructuring.
- The court also authorized a Sale and Investment Solicitation Process (SISP) with Phase‑1 bid deadline May 8 2026 and Phase‑2 bid deadline May 15 2026; an approval‑application hearing is expected shortly thereafter.
- Chief Financial Officer Ananth Krishnan resigned; Lachlan McLeod, CPA – founder of Stornoway Consulting Corp., former CFO/Corporate Secretary/Interim CEO of Adastra Holdings Ltd. with >10 years finance experience and a BS in Economics & Business (U‑Victoria) plus Diploma in Accounting (UBC Sauder) – will assume the CFO role pending required approvals.
- SSC is evaluating additional streamlining and cost‑saving measures; further updates will be provided as they become available.
Material Impact
- The DIP financing of up to $1.5 million provides necessary liquidity to continue operations while the SISP runs, reducing immediate risk of a cash crunch.
- Appointment of an experienced CFO with a track record in regulated cannabis and corporate governance adds credibility to the restructuring effort and may improve execution of cost‑saving initiatives.
- However, the news largely confirms details already outlined in the February 27 CCAA commencement release (SISP timeline, need for DIP financing) – it is an expected procedural update rather than a surprise or game‑changing development.
- No new revenue‑generating announcements, major asset disposals beyond the SISP framework, or equity financings were disclosed; therefore the impact is routine positive – incremental progress that supports the existing restructuring plan but does not materially alter valuation expectations.
HASH · Price
Company Overview
- Simply Solventless Concentrates Ltd. is a TSX‑Venture listed issuer (ticker: HASH) focused on solvent‑less cannabis extraction, production of concentrates, edibles, vape cartridges and related products.
- Flagship asset: Humble Grow Co. – a 98,000 sq ft indoor cultivation facility in Winnipeg undergoing a LED‑lighting retrofit (net $1.5 million after expected government rebates) aimed at boosting annual gross revenue by $17.5‑$29.5 million and adjusted EBITDA by $6.5‑$14.5 million, with a projected payback period under one year.
- The company also operates subsidiaries Massive Hash Factory (MHF), CannMart Inc., ANC Inc., and holds interests in various brands acquired over the past 18 months (Uncommon Cannabis Co., Lamplighter, etc.).
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Jun 18, 2026 · 21:43