SIMPLY SOLVENTLESS ANNOUNCES STRATEGIC ACQUISITION OF CANNABIS CULTIVATOR DELTA 9 BIO-TECH, ADDING APPROXIMATELY $12 MILLION ANNUAL REVENUE (25% INCREASE) AND $2.5 MILLION ANNUAL ADJUSTED EBITDA (23% INCREASE), FOR CONSIDERATION OF NIL NET OF EXPECTED

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CALGARY, AB, Dec. 30, 2024 /CNW/ - Simply Solventless Concentrates Ltd. (TSXV:HASH.VN) ("SSC") is pleased to announce that it has entered into a share purchase agreement dated December 28, 2024 (the "SPA") with Delta 9 Cannabis Inc. ("Delta 9") in respect of the acquisition of all of the issued and outstanding shares of Delta 9 Bio-Tech Inc. ("Bio-Tech") for cash consideration of $nil net of approximately $3.0 million of expected net working capital received, or cash consideration of $3.0 million without deducting expected working capital received, payable in a series of payments of $0.75 million by January 2, 2025 and $2.25 million on the closing date, expected to be January 31, 2025 (the "Acquisition"). SSC also announces the appointment of Jeff Holmgren as Chief Financial Officer and the promotion of Murray Brown, SSC's current Vice President, Operations, to the position of Chief Operating Officer. Additionally, all of SSC's 8,700,000 common share purchase warrants exercisable at a price of $0.40 per share with an expiry date of December 23, 2024, have been exercised for proceeds of $3,480,000.