10:27 AM EDT, 06/03/2025 (MT Newswires) -- Simply Solventless Concentrates ( SSLCF ) has plunged 62% to a multi-year low after it on Tuesday amended the terms of $7.15 million in notes payable to the former shareholders of ANC.

The notes were comprised of a promissory note with $3.65 million outstanding, previously due May 31, 2025, and an earn-out note with up to $3.5 million outstanding, previously due Oct. 31, 2025. The notes were originally last October, as partial consideration for the ANC acquisition.

The amendments now allow for $3.4 million of the notes to be repaid via the issue of 6.9 million Simply Solventless shares at $0.50 each. The company will repay $1 million of the notes in cash in early June next year. A further $2.2 million of the notes will be repaid in weekly cash payments averaging $21,370 over two years. A further $0.5 million of the notes have been discharged.

"This arrangement significantly improves SSC's balance sheet while reducing cash flow obligations, providing a strong foundation for future growth and the execution of our impactful business plan focussed on opportunistic acquisitions," said Chief Executive Jeff Swainson.

The company's shares were last seen down $0.27, to $0.165, on the TSX Venture Exchange, with 2.3 million shares being traded, compared with the average daily volume of 336,000.

Price: 0.17, Change: -0.27, Percent Change: -62.07