Purebread Brands Inc. Announces Receipt of Demand Letter

Executive Summary

• Purebread Brands’ subsidiary, Coho Acquisition Corp., received a demand letter from the Bank of Montreal for C$5.21 million in overdue loan and credit‑card obligations.
• The bank also issued a Notice of Intention to Enforce Security under the Bankruptcy and Insolvency Act, effective October 14 2025 unless consent is obtained earlier.
• Purebread is exploring recapitalization, refinancing, or third‑party assumption/purchase of the debt and will update investors as needed.

Key Details

• Demand Letter Amount: C$5,209,930 owed under a Letter of Agreement dated June 28 2023 (amended).
• Components of Debt: Revolving operating demand loan, non‑revolving demand loan, and corporate credit‑card facility.
• Security Enforcement Notice: BIA Notice filed; enforcement prohibited until October 14 2025 absent borrower consent per s.244(1) of the Bankruptcy and Insolvency Act (Canada).
• Potential Remedies: Recapitalization, refinancing transaction, or third‑party assumption/purchase of the outstanding obligations.
• Next Steps: Company will provide further disclosure when required or appropriate.

Notable Quotes

(No direct quotes were provided in the release.)