Grounded People Announces Termination of Retail Operations and Strategic Review of Future Opportunities

Executive Summary

• The Board has decided to terminate all retail operations and begin liquidation of remaining inventory for Grounded People Apparel Inc.
• Effective November 26 2025, the company will be designated as an Inactive Issuer and its CSE trading symbol will change from SHOE to SHOE.X.
• Management will focus on reducing overhead and exploring new business directions while pursuing opportunities aligned with long‑term shareholder value.

Key Details

• Decision follows a comprehensive review of current operations, market conditions, and operational challenges in the footwear retail segment.
• All active retail activities related to the existing footwear segment will be unwound immediately.
• Remaining inventory will be liquidated; specific timelines and methods for liquidation were not disclosed.
• The company will implement cost‑reduction measures as part of the transition.
• Trading symbol change to SHOE.X is a CSE designation for inactive issuers and does not constitute a suspension of trading.
• CEO Maximilian Justus signed the release on behalf of the Board of Directors.

Notable Quotes

“Management remains committed to assessing and pursuing opportunities that align with the Company’s strategic objectives and long‑term value creation for shareholders.” – Maximilian Justus, Chief Executive Officer

Materiality: Material – Negative (termination of core business operations and move to inactive status).