Simply Solventless files Q2 financials, expects MCTO revocation
Simply Solventless Concentrates Ltd. (TSXV:HASH) has released its unaudited financial results for the second quarter of 2026, projecting the revocation of a Management Cease Trade Order (MCTO) in the near future. The company generated net revenues between $5.0 million and $5.3 million, reflecting a consistent performance for the third consecutive quarter.
In February 2026, Simply Solventless initiated a restructuring process that could lead to a reduction in debt of up to $19.9 million and an annual cost decrease of up to $7.1 million.
The Alberta Securities Commission has granted an extension to the MCTO, which was initially set to expire on August 28, 2026. However, Simply Solventless expects this order to be lifted within two business days following the publication of their Q2 financials. The MCTO prohibits management from trading the company's securities, with no impact on other shareholders.
Another positive development is the increased cannabis flower yields reported by Simply Solventless subsidiary, Humble Grow Co. Since June 2026, yields have surged by 75-80%, reaching an estimated annual production capacity of 8.0-9.0 metric tonnes. This boost in production is projected to contribute an additional $0.3-0.4 million in monthly cash flow. Additionally, a planned second phase of facility upgrades could potentially raise annual production to between 14.0 and 20.0 metric tonnes.
Simply Solventless is currently engaged in a non-brokered private placement offering up to 20 million units at $0.05 per unit, with the potential to raise up to $1.0 million in gross proceeds. As of the release date, the company has received subscriptions for $0.5 million worth of units and conversions of $2.2 million in convertible debentures.
Each unit comprises one common share and one warrant, exercisable at $0.10 per share for a two-year period. The company anticipates completing the financing and debt settlement by September 30, 2026, pending approval from the TSX Venture Exchange.
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