09:59 AM EDT, 06/17/2025 (MT Newswires) -- Simply Solventless Concentrates ( SSLCF ) overnight Monday said it reached an agreement with Natura Life + Science, a California cannabis company, to launch Sluggers, a northern California cannabis brand, in Canada.

According to the agreement, the company has exclusivity on distribution of the Sluggers brand in Canada and will retain 75% of the net income generated from the sale of the Sluggers products. The company will provide all raw materials and Natura will pay for all sales and marketing activities.

Simply Solventless Concentrates ( SSLCF ) also said that its Chief Financial Officer Jeff Holmgren is no longer with the company. The company added that it is in the final stages of executing an employment contract with "a highly experienced individual" who upon execution of the employment agreement will be appointed as its CFO subsequent to expiration of his notice period with his current employer.

"SSC has engaged Lachlan McLeod, a seasoned cannabis executive, through his firm Stornoway CPA, to assist with the Q1 2025 Financials and certain other accounting and finance duties until such time as a permanent CFO is appointed," said the company.

The company also provided an update on its previously announced management cease trade order (MCTO) under National Policy 12-203 - Management Cease Trade Orders initially issued by the Alberta Securities Commission. The company said that the MCTO will remain in effect until it files the required filings which consists of its financials, including the related management's discussion and analysis and officer certificates.

The company said it expects to file the required filings on or before June 20, as previously disclosed.

A company statement noted that, pursuant to the MCTO, management of the company may not trade in securities of the company until it files the required filings and the MCTO is revoked. The MCTO does not affect the ability of the company's other shareholders to trade in securities of the company.

The company also confirmed that it will satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing biweekly default status reports in the form of news releases for so long as it remains in default of the filing requirements.

The company further confirmed that, except as publicly disclosed by it in its press releases, there have been no material changes to the information contained in the default announcement issued on April 30 that would reasonably be expected to be material to an investor, there have been no failures by it to fulfill its stated intentions with respect to satisfying the provisions of the alternative reporting guidelines under NP 12-203, there has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the default announcement and there is no other material information concerning the affairs of the company that has not been generally disclosed.

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