Settlement Collections Completed, Legal Matters Resolved, Management Transition and Quarterly Report Posted
RENO, NEVADA – July 3, 2026 – CeCors, Inc. (OTC Markets: CEOS) (“CeCors” or the “Company”) today provided a corporate update on recent developments, which are described in further detail in the Company’s Notice of Material Event and quarterly report for the period ended March 31, 2026, each posted today on the Company’s profile at www.otcmarkets.com.
Settlement Collections Completed
The Company has received all amounts due under its previously disclosed September 9, 2025 Settlement Agreement relating to the disposition of its former subsidiary, VetComm, collecting approximately US$5.14 million in aggregate, including a final payment of approximately US$2.14 million received on March 31, 2026. All previously asserted defaults have been cured and released, and the Company’s security interests have been discharged. The Company has no remaining ownership or economic interest in VetComm.
Legal Matters Resolved
The Company reached confidential settlements resolving the litigation pending in the San Diego County Superior Court captioned VetComm US, et al. v. Weigel, et al. (Case No. 25CU014170N), including all claims among all plaintiffs, defendants and cross-defendants and the related cross-complaint, and the action brought by two former VetComm personnel, Margaret Wilcsek and Lauren Wilcsek (Case No. 25CU053784N). The terms of both settlements are confidential, and the settlement amounts will not be disclosed. Definitive settlement agreements are in the process of execution, following which the proceedings will be dismissed in accordance with court protocol. Following these settlements, one legal action remains pending: the matter brought by Sarah Smith (San Diego County Superior Court Case No. 25CU043943C). The legal actions described above all relate to the operations of the Company’s former subsidiary, VetComm, and the Company continues to defend the remaining matter with the assistance of counsel.
Management and Board Transition
Effective April 30, 2026, Mr. Amar Bhatal resigned from all of his positions with the Company, including as President, Secretary and a director. Effective June 18, 2026, Mr. Sukhinder Kalsi resigned from all of his positions with the Company, including as Chief Financial Officer, Treasurer and a director.
The resignations formed part of the Company's efforts to sever its remaining ties with the Province of Alberta after it became aware that the presence of Alberta-resident directors had inadvertently resulted in the Company being deemed to be a reporting issuer in Alberta. Neither resignation was the result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices. The Company thanks Messrs. Bhatal and Kalsi for their years of service.
Mr. Guy Ratchford, a director of the Company, currently serves as President and Secretary and as acting principal executive officer and acting principal financial and accounting officer, and is the Company’s sole director. The Company is engaged in ongoing discussions with prospective candidates regarding appointment as additional directors and officers.
Alberta Securities Commission Application
As described further in the Company’s Notice of Material Event dated July 3, 2026, on June 19, 2026 the Company filed an application with the Alberta Securities Commission for a discretionary order under section 153 of the Securities Act (Alberta) that the Company be deemed to have ceased to be a reporting issuer in Alberta. The application remains pending, and there can be no assurance as to its outcome or timing.
Strategic Partnership and Operations
The Company continues to advance its previously announced strategic collaboration with a U.S.-based cognitive performance company to develop and commercialize a differentiated functional coffee product, and on May 14, 2026 advanced an additional US$170,000 in connection with this initiative, bringing aggregate advances to approximately US$783,000. The parties remain engaged in discussions to finalize a definitive structure for the arrangement.
Quarterly Report Posted
The Company’s quarterly report for the period ended March 31, 2026, including unaudited condensed consolidated financial statements, has been posted on the Company’s profile at www.otcmarkets.com.
About CeCors, Inc.
CeCors, Inc. (OTC Markets: CEOS) is a public holding company that conducts its business primarily through its wholly owned subsidiary, PsyKey Inc., which develops and commercializes functional consumer products incorporating mushroom-based ingredients and formulations, including premium functional coffee products.
For further information:
CeCors, Inc.
Website: www.cecorsinc.ca
Email: info@cecorsinc.ca
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may be considered “forward-looking statements” within the meaning of applicable securities laws, including statements regarding the finalization of settlement documentation and dismissal of proceedings, the outcome and timing of the Company’s application to the Alberta Securities Commission, the appointment of additional directors and officers, the finalization of the structure of the Company’s strategic collaboration, and the development and commercialization of products. Forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially, including risks relating to the execution of definitive settlement documentation, regulatory decisions, the Company’s ability to attract qualified directors and officers, the negotiation of definitive agreements with its strategic partner, product development and commercialization risks, and the Company’s limited operating history and capital resources. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. The Company undertakes no obligation to update forward-looking statements except as required by law.