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Purebread Brands Inc. Announces Extension to Management Cease Trade Order and Closing of First Tranche of Debt Settlement
Vancouver, British Columbia--(Newsfile Corp. - October 2, 2025) - Purebread Brands Inc. (TSX...
About this update from Purebread Brands Inc.
[{"type":"text","content":"Purebread Brands Inc. Announces Extension to Management Cease Trade Order and Closing of First Tranche of Debt SettlementVancouver, British Columbia--(Newsfile Corp. - October 2, 2025) - Purebread Brands Inc. (TSXV: BRED) (\"Purebread\" or the \"Company\") announces that it has been granted an extension by its principal regulator, the British Columbia Securities Commission (the \"BCSC\"), for the existing management cease trade order (the \"MCTO\"). The MCTO, originally granted on July 31, 2025, has been extended from September 29, 2025, to October 3, 2025. The MCTO was issued because the Company was unable to file its audited annual financial statements, related MD&A, and CEO and CFO certifications for the year ended March 31, 2025 (the \"Required Filings\"), by the July 29, 2025, deadline. This resulted in a default under Part 4 of National Instrument 51-102 Continuous Disclosure Obligations (\"Default\").The Company reports that its finance team and auditors have been working diligently over the past two months to complete the audit within the relief period. The audit is in progress and near completion. However, due to the complexity of certain accounting matters, the company requires additional time to complete the Required Filings. As a result, the Company applied to the BCSC for an extension, which has been granted until October 3, 2025. The Company also expects to file its Q1 interim financial statements for the period ended June 30, 2025, within five business days following submission of the Required Filings. While the MCTO is in effect, the general investing public will continue to be able to trade freely in the Company's listed common shares. However, the Company's Interim Chief Executive Officer and Chief Financial Officer will not be able to trade the Company's shares. Other than as disclosed in this news release, the Company also confirms that, at the date hereof, there are no insolvency proceedings against it and no other material information concerning the affairs of the Company that has not been generally disclosed as of the date of this press release. Closing of First Tranche of Debt Settlement Purebread is also pleased to announce that, further to the Company's news release on March 13, 2025, it has completed the first tranche of its previously announced shares for debt transaction (the \"Debt Set...