Purebread Brands Provides Update on Management Cease Trade Order

Executive Summary

• Purebread Brands Inc. provides an update on the Management Cease Trade Order (MCTO) issued by the British Columbia Securities Commission due to the company's failure to file required annual financial statements and certifications by the July 29, 2025 deadline.
• The company is working to remedy the default and expects to complete the required filings on or before the September 29, 2025 relief period deadline.
• While the MCTO is in effect, the general public can continue to trade the company's common shares, but the Interim CEO and CFO are prohibited from trading; the company will issue bi-weekly default status reports.

Key Details

• Regulatory Action: A Management Cease Trade Order (MCTO) was granted by the British Columbia Securities Commission under National Policy 12-203.
• Cause of Default: The company failed to file audited annual financial statements, related MD&A, and CEO/CFO certifications for the year ended March 31, 2025, by the July 29, 2025 deadline, resulting in a default under Part 4 of National Instrument 51-102 Continuous Disclosure Obligations.
• Remediation Timeline: The company expects to complete the Required Filings on or before the September 29, 2025 relief period deadline.
• Trading Restrictions:
  • General investing public: Can continue to trade freely in listed common shares.
  • Interim CEO and CFO: Cannot trade the company's shares while the MCTO is in effect.
• Compliance Measures: The company intends to comply with alternative information guidelines, including issuing bi-weekly default status reports in the form of news releases.
• Insolvency Status: The company confirms there are no insolvency proceedings against it as of the date of the release.
• Material Information: The company confirms there is no other material information concerning its affairs that has not been generally disclosed.

Notable Quotes

• "The Company reports that it working expeditiously to remedy the Default, with the Required Filings expected to be completed on or before the September 29, 2025 relief period deadline."
• "While the MCTO is in effect, the general investing public will continue to be able to trade freely in the Company's listed common shares. However, the Company's Interim Chief Executive Officer and Chief Financial Officer will not be able to trade the Company's shares."