Business
Purebread Brands Inc. Announces Receipt of Demand Letter
Vancouver, British Columbia--(Newsfile Corp. - October 8, 2025) - Purebread Brands Inc. (TSXV: BRED) ("Purebread" or the "Company") announces that its wholly owned subsidiary, Coho Acquisition Corp. (the "Borrower"), has received a demand letter (the "Demand Letter") from the Bank of Montreal (the "Bank") in respect of amounts owed under a letter of agreement dated June 28, 2023, as amended (the "Letter of Agreement"), among the Bank, the Borrower, and Purebread Bakery Inc. as guarantor.In the..
About this update from Bank Of Montreal
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - October 8, 2025) - Purebread Brands Inc. (TSXV: BRED) ("Purebread" or the "Company") announces that its wholly owned subsidiary, Coho Acquisition Corp. (the "Borrower"), has received a demand letter (the "Demand Letter") from the Bank of Montreal (the "Bank") in respect of amounts owed under a letter of agreement dated June 28, 2023, as amended (the "Letter of Agreement"), among the Bank, the Borrower, and Purebread Bakery Inc. as guarantor.","length":562,"tagName":"p"},{"type":"text","content":"In the Demand Letter, the Bank demanded immediate payment of C$5,209,930 owed under the Letter of Agreement. The outstanding balance consists of a revolving operating demand loan, a non-revolving demand loan, and a corporate credit card facility.","length":246,"tagName":"p"},{"type":"text","content":"The Bank has also delivered to the Company a Notice of Intention to Enforce Security (the "BIA Notice") pursuant to the Bankruptcy and Insolvency Act (Canada) in respect of the indebtedness secured under a General Security Agreement dated September 20, 2023, covering all property of the Purebread Bakery Inc.","length":319,"tagName":"p"},{"type":"text","content":"Pursuant to section 244(1) of the Bankruptcy and Insolvency Act (Canada), the Bank shall not enforce its security over the collateral until October 14, 2025, unless the borrower consents to earlier enforcement.","length":210,"tagName":"p"},{"type":"text","content":"The Company is pursuing opportunities to repay the amounts due under the Letter of Agreement, which may include a recapitalization or refinancing transaction, or a third-party assumption or purchase of the outstanding obligations.","length":230,"tagName":"p"},{"type":"text","content":"The Company will provide an update when further disclosure is required or otherwise appropriate.","length":96,"tagName":"p"},{"type":"text","content":"About Purebread Brands Inc.:","length":28,"tagName":"p"},{"type":"text","content":"Purebread Brands Inc. is a leader in fast-casual cafe / bakeries in British Columbia, driving retail expansion in vibrant communities across Canada and beyond. Purebread is committed to crafting exceptional food experiences and making a positive impact on the communities it serves.","leng...