SIMPLY SOLVENTLESS ANNOUNCES AGREEMENT WITH NATURA LIFE + SCIENCE TO LAUNCH SLUGGERS IN CANADA, AND PROVIDES Q1 TIMING, EXECUTIVE AND MCTO UPDATES
CALGARY, AB, June 16, 2025 /CNW/ - Simply Solventless Concentrates Ltd. (TSXV: HASH) ("SSC" or the "Company") is pleased to announce that it has reached an agreement with Natura Life + Science ("Natura"), a California cannabis company, to launch Sluggers, the legendary northern California cannabis brand, in Canada. Sluggers' U.S. based website is as follows: https://sluggers.com/. SSC is also pleased to provide an update regarding changes made to its executive team, the timing of filing its first quarter results ("Financials") for the three months ended March 31, 2025, and an update on its previously announced management cease trade order ("MCTO") under National Policy 12-203 – Management Cease Trade Orders ("NP 12-203") initially issued by the Alberta Securities Commission, the Company's principal regulator, on May 5, 2025, and subsequently updated by SSC through press releases issued on April 30, 2025, May 14, 2025, May 20, 2025, and June 2, 2025.
Sluggers
The Sluggers brand was built by cannabis culture and community leaders, and is known for premium pre-rolls, vapes, and flower. With a passionate fan base, Sluggers has been setting the standard in the U.S. cannabis market, bringing consistent, innovative and high-quality products to a wide base of consumers.
Sluggers has rapidly expanded across multiple states, and they are now leveraging ANC Inc.'s leading manufacturing capability to bring Sluggers' exceptional products to Canada. ANC Inc. is a wholly owned subsidiary of SSC.
According to Headset data:
Sluggers is #1 in units sold in California for 3.5g pre-roll packs, including being the #2 infused pre-roll brand on 4/20. Currently, Sluggers sells over a million pre-rolls per month.
Sluggers has achieved 600% year over year growth in vape sales.
The initial Sluggers product launches coming in July are as follows:
Bubble Bath Juiced Hash & Diamond Infused Kief Coated 5-pack pre-roll in Ontario, Saskatchewan, and Manitoba.
Fire OG Hash & Diamond Infused Glass Tip 1.5g pre-roll in Ontario, Saskatchewan, and Manitoba.
Under the terms of the agreement, SSC has exclusivity on distribution of the the Sluggers brand in Canada. SSC will retain 75% of the net income generated from the sale of the Sluggers products. SSC will provide all raw materials and Natura will pay for all sales and marketing activities.
Jeff Swainson, SSC's President & CEO, stated: "We are thrilled to bring the iconic Sluggers brand to Canada, as we anticipate that it will generate the same level of enthusiasm and customer connection in Canada as it does in the U.S."
Executive Change
Jeff Holmgren, SSC's Chief Financial Officer ("CFO"), is no longer with SSC. SSC thanks Mr. Holmgren for his contributions and wishes him the best in his future endeavours.
The timing of filing SSC's Financials, including the related management's discussion and analysis and officer certificates (collectively, the "Required Filings"), will not be impacted and it is anticipated they will be released on June 20, 2025, as previously disclosed. SSC has engaged Lachlan McLeod, a seasoned cannabis executive, through his firm Stornoway CPA, to assist with the Q1 2025 Financials and certain other accounting and finance duties until such time as a permanent CFO is appointed.
Upcoming CFO Appointment
SSC is in the final stages of executing an employment contract with a highly experienced individual who upon execution of the employment agreement will be appointed as SSC's CFO subsequent to expiration of his notice period with his current employer.
Q1 2025 Filing Timeline & MCTO Update
The Company expects to file the Required Filings on or before June 20, 2025. Should this timing change, an update will be provided. The MCTO will remain in effect until the Company files the Required Filings.
As previously announced, pursuant to the MCTO, Management of the Company may not trade in securities of the Company until such time as the Company files the Required Filings and the MCTO is revoked. The MCTO does not affect the ability of other shareholders of the Company to trade in securities of the Company. The Company confirms that it will satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing biweekly default status reports in the form of news releases for so long as it remains in default of the above-noted filing requirements.
The Company confirms that, except as publicly disclosed by the Company in its press releases: (a) there have been no material changes to the information contained in the default announcement issued on April 30, 2025 (the "Default Announcement") that would reasonably be expected to be material to an investor; (b) there have been no failures by the Company to fulfill its stated intentions with respect to satisfying the provisions of the alternative reporting guidelines under NP 12-203; (c) there has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Default Announcement; and (d) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
About Simply Solventless Concentrates Ltd.
SSC is a public company incorporated under the Business Corporations Act (Alberta). SSC's mission is to provide pure, potent, terpene-rich ready to consume cannabis products to discerning cannabis consumers. For more information regarding SSC, please see www.simplysolventless.ca.
Notice on Forward Looking Information
This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends", "expects", "projected", "approximately" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward looking statements concerning initial Sluggers product launches, Sluggers product quality, the innovative nature of Sluggers products, the consistency of Sluggers products, consumer enthusiasm regarding Sluggers, the potential following, popularity, and customer connection related to Sluggers, future CFO appointments, and the timing of filing the Required Filings and MCTO. SSC cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of SSC, including expectations and assumptions concerning SSC, the timing and market acceptance of products, competition in SSC's markets, SSC's reliance on customers, fluctuations in interest rates, SSC's ability to maintain good relations with its customers, employees and other stakeholders, changes in law or regulations, SSC's ability to protect its intellectual property, as well as other risks and uncertainties, including those described in SSC's filings available on SEDAR+ at www.sedarplus.ca, including its most recent annual information form. The reader is cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of SSC. The reader is cautioned not to place undue reliance on any forward-looking statements. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release, and SSC does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Simply Solventless Concentrates Ltd.
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Environmental groups and the Miccosukee Tribe have asked Williams to issue a preliminary injunction to halt operations and further construction. The suit claims the project threatens environmentally sensitive wetlands that are home to protected plants and animals and would reverse billions of dollars' worth of environmental restoration. ▶ Read more about 'Alligator Alcatraz' Update: Date: 2025-08-07 18:56:51 Title: EPA cancels $7 billion Biden-era grant program to boost solar energy Content: The Environmental Protection Agency on Thursday terminated a $7 billion grant program that was intended to help pay for residential solar projects for more than 900,000 lower-income U.S. households. It's the latest Trump administration move hindering the nation's shift to cleaner energy. The funding, part of Democratic President Joe Biden's Solar for All program, was awarded to 60 recipients including states, tribes and regions for investments such as rooftop solar and community solar gardens. Solar, a renewable energy, is widely regarded as a way to introduce cleaner power onto the electrical grid and lower energy bills for American consumers. ▶ Read more about residential solar Update: Date: 2025-08-07 18:27:19 Title: Ralph Lauren warns that tariffs could squeeze its profit margin Content: Shares of Ralph Lauren fell more than 7% on Thursday as the maker of iconic polo shirts, sport coats and other luxury clothing said that tariffs and general uncertainty could affect consumer sentiment later this year. 'The big unknown sitting here today is the price sensitivity and how the consumer reacts to the broader pricing environment and how sensitive that consumer is,' Ralph Lauren's CEO Patrice Louvet told analysts on Thursday. 'That's what we're watching very closely as we head into the second half.' The cautious comments came after the clothing maker posted strong sales in its fiscal first quarter — and upgraded its sales outlook. In May, the New York-based company had said that it would raise prices this fall because of tariffs. Correction: This post has been updated to reflect that Ralph Lauren said tariffs and general uncertainty could impact consumer sentiment. The company did not say tariff costs could hurt profit margins, as was previously written. Update: Date: 2025-08-07 17:48:39 Title: UN chief welcomes all efforts to end the war in Ukraine that respect its territorial integrity Content: U.N. deputy spokesman Farhan Haq, asked for Secretary-General Antonio Guterres' reaction to the announcement of a meeting between U.S. President Donald Trump and Russian President Vladimir Putin, said: 'We'll have to see what happens.' 'But clearly, we do welcome all efforts that are that are intended to bring about peace in Ukraine in line with the U.N. Charter, international law and the resolutions of the General Assembly and Security Council,' Haq said. The U.N. Charter requires all 193 U.N. member states, including Russia and Ukraine, to refrain from using force against any other nation and to respect their sovereignty and territorial integrity. U.N. resolutions call for Russia, which invaded Ukraine in February 2022, to withdraw all its forces from the country. Update: Date: 2025-08-07 17:46:33 Title: Researchers laid off and science shelved as battle between Harvard and Trump administration continues Content: The loss of an estimated $2.6 billion in federal funding at Harvard has meant that some of the world's most prominent scientists and academics are laying off young researchers. They are shelving years or even decades of research, into everything from opioid addiction to cancer. The funding cuts are part of a monthslong battle that the Trump administration has waged against some the country's top universities including Columbia, Brown and Northwestern. The administration has taken a particularly aggressive stance against Harvard, freezing funding after the country's oldest university rejected a series of government demands issued by a federal antisemitism task force. And despite Harvard's lawsuits against the administration, and settlement talks between the warring parties, researchers are confronting the fact that some of their work may never resume. Harvard University professor Alberto Ascherio has collaborated with the U.S. government to collect blood samples taken from soldiers over the course of two decades for his groundbreaking research to identify the cause of multiple sclerosis and other neurodegenerative diseases. Now that work is on hold indefinitely. 'It's like we have been creating a state-of-the-art telescope to explore the universe, and now we don't have money to launch it,' said Ascherio. 'We built everything and now we are ready to use it to make a new discovery that could impact millions of people in the world and then, 'Poof. You're being cut off.'' Update: Date: 2025-08-07 17:31:59 Title: United Nations chief calls US tariffs `disheartening news' Content: Secretary-General Antonio Guterres believes all trade wars 'are ruinous and need to be avoided,' U.N. deputy spokesman Farhan Haq said. The secretary-general stresses to all governments that at a time of trade wars 'measures need to be taken to protect the poorest and most vulnerable sectors of society who will certainly suffer as a result of the higher prices,' Haq said. Update: Date: 2025-08-07 17:26:33 Title: Brazil president and India prime minister call to discuss tariffs Content: Brazil's President Luiz Inácio Lula da Silva spoke with Indian Prime Minister Narendra Modi on Thursday about unilateral U.S. tariffs, according to a statement from Brazil's presidency. The call came as new tariffs imposed by Trump took effect. On Wednesday, Trump said he would be adding a 25% tariff on Indian imports tied to Russian oil starting in 21 days, raising the total to 50%. A similar rate was applied to Brazilian exports last week, which went into effect on Wednesday — though exemptions included aircraft parts, aluminum, tin and wood pulp. Lula and Modi reaffirmed their goal to boost bilateral trade to more than $20 billion by 2030 and agreed to expand the MERCOSUR-India trade agreement. Lula confirmed plans to visit India in early 2026, with Vice President Geraldo Alckmin visiting in October. Update: Date: 2025-08-07 16:53:35 Title: Americans will see an average tax of 18.6% for imported goods, Yale's Budget Lab says Content: As Trump's tariffs take effect, Americans will see an average tax of 18.6% for imported products, the highest rate since 1933, according to the Budget Lab at Yale, a non-partisan policy research center. The Budget Lab estimated prices will increase 1.8% in the short term as a result of the trade war the U.S. waged this year. That's the equivalent of a $2,400 loss of income per U.S. household, the group said. The analysis, which is based on the effects of all U.S. tariffs and foreign retaliation implemented in 2025 and through Wednesday, including the 50% tariff rate on India. The analysis assumes the Federal Reserve doesn't react to tariffs and so the real income adjustment comes primarily through prices rather than nominal incomes. If the Federal Reserve reacted, the adjustment could in part come in the form of lower nominal incomes, the group said. Update: Date: 2025-08-07 16:26:12 Title: 'Speedway Slammer' nickname for Indiana detention partnership sparks a backlash Content: Department of Homeland Security Secretary Kristi Noem is promoting a deal with the state of Indiana to open 1,000 detention beds for immigrants facing deportation. DHS posted an image of an IndyCar-style race car emblazoned with 'ICE' and the number 5, rolling past a barbed-wire prison wall. 'If you are in America illegally, you could find yourself in Indiana's Speedway Slammer,' Noem said. Speedway, which hosts the Indianapolis 500 — put out a statement saying the town wasn't involved, and IndyCar asked that its intellectual property 'not be utilized moving forward in relation to this matter.' No. 5 is used by IndyCar driver Pato O'Ward, the only Mexican driver in the series. DHS officials said they won't stop promoting the nickname. Update: Date: 2025-08-07 16:25:21 Title: Vance to meet with foreign secretary during UK trip Content: On Friday, the White House says Vance will meet with U.K. Foreign Secretary David Lammy at Chevening House, a stately home in Kent, south of London. The White House hasn't detailed what's on the agenda. But the meeting comes as the United Kingdom tries to come to favorable terms for steel and aluminum exports to the U.S., as the two sides work out details of a broader trade deal announced at the end of June. Russia's invasion of Ukraine and the Israel-Hamas war in Gaza are also likely to be on the agenda amid debates between Washington and London about the best way to end those conflicts. Update: Date: 2025-08-07 16:17:48 Title: The leaders of Armenia and Azerbaijan will meet at the White House on Friday Content: Trump is scheduled to meet Friday with Armenian Prime Minister Nikol Pashinyan and Azerbaijani President Ilham Aliyev, according to a U.S. official who was not authorized to speak publicly and spoke on condition of anonymity. The two nations have been working toward a peace treaty in their almost four decades of conflict, and a possible peace deal is on the table, according to the official. Armenia and Azerbaijan have been locked in a bitter conflict over territory since the early 1990s, when ethnic Armenian forces took control over the Karabakh province and nearby territories. Update: Date: 2025-08-07 16:03:21 Title: Senior FBI official who resisted Trump demands is ousted Content: A senior FBI official who served as acting director in the first weeks of the Trump administration and resisted demands to turn over the names of agents who participated in the Jan. 6, 2021, investigations is being forced out of the bureau, according to two people familiar with the matter who spoke to The Associated Press on Thursday. The circumstances of Brian Driscoll's ouster were not immediately clear, but his final day is Friday, said the people, who were not authorized to discuss the personnel move by name and spoke on the condition of anonymity. Update: Date: 2025-08-07 15:58:47 Title: Indiana Republicans mum on Vance redistricting talk Content: Indiana Gov. Mike Braun told reporters that Republican leaders discussed a 'wide array of topics' in a private meeting with JD Vance Thursday morning. 'We listened,' he said while walking through the statehouse, and confirmed redistricting was discussed, according to a video posted by a reporter with Fox 59 in Indianapolis. Indiana House Speaker Todd Huston and Senate President Pro Tem Rodric Bray, both Republicans, declined to comment to reporters, and in a post on X, Braun's office did not mention redistricting. 'It was great to meet with @VP Vance today. We discussed a number of issues, and I was pleased to highlight some of the great things happening in Indiana,' the post said. Update: Date: 2025-08-07 15:45:06 Title: Alcohol trade groups ask for 'toasts not tariffs' Content: A coalition of 57 U.S. associations and state guilds that represent businesses that make, import, distribute and sell alcohol, called the 'Toasts not Tariffs Coalition' asked Trump to keep the trade in U.S. and European Union spirits and wines free of reciprocal tariffs. The group estimates that Trump's 15% tariff on U.S. imports of EU wine and spirits could result in more than 25,000 American job losses and nearly $2 billion in lost sales. 'Many U.S. and EU spirits are recognized as 'distinctive products' and can only be made in their designated countries — Bourbon and Tennessee Whiskey in the U.S., and Cognac in France,' the group wrote. 'Similarly, wine is linked to its place of origin through American Viticultural Areas, appellations of origin or geographical indications. Consequently, production of these products cannot simply be relocated to circumvent tariffs.' Update: Date: 2025-08-07 15:42:05 Title: Trump holding closed-door meeting as complaints about RFK Jr.'s mRNA vaccine announcement loom Content: Trump said he would discuss a controversial decision by his Health and Human Services Secretary to cancel $500 million worth of mRNA vaccine development research during a noon meeting on Wednesday. A key Kennedy adviser, Dr. Robert Malone, is urging 'Make America Healthy Again' supporters to use their social media channels to encourage Trump to uphold the cancellations. But U.S. Sen. Bill Cassidy, R-La., among others, blasted Kennedy's decision to end the vaccine research. 'It is unfortunate that the Secretary just canceled a half a billion worth of work, wasting the money which is already invested,' Cassidy wrote on X. Update: Date: 2025-08-07 15:40:06 Title: 10 ways Trump has boosted the Christian right Content: Trump has repeatedly delivered for the bedrock of his Republican support. While he has made overtures to other religious groups including Jews and Muslims, conservative Christians are among his highest-profile surrogates and appointees, and their impact is expanding. 'We're bringing back religion in our country,' Trump contended on the National Day of Prayer in May. Progressive Christian critics say he's eroding the separation of church and state, and advancing an ideology that Christian nationalists should dominate government. 'A president with a true Christian agenda would be most concerned with uplifting those in our country who have been cast aside,' said the Rev. Shannon Fleck. 'Those most vulnerable among us are not these manipulators of Christianity that are seeking nothing but power.' ▶ Read more to see 10 ways Trump has delivered for conservative Christians
Fast Company
an hour ago
- Fast Company
Crowdfunded companies are ‘ghosting' investors. Changing the rules could restore trust
Imagine you invest $500 to help a startup get off the ground through investment crowdfunding. The pitch is slick, the platform feels trustworthy, and the company quickly raises its target amount from hundreds of people just like you. Then—silence. No updates, no financials, not even a thank-you. You've been ghosted—not by a friend, but by a company you helped fund. This isn't just an unlucky anecdote. It's happening across the United States. And while it may violate federal law, there's little enforcement—and virtually no consequences. Thanks to a 2012 law, startups can raise up to $5 million per year from the general public through online platforms such as Wefunder or StartEngine. The law was intended to 'democratize' investing and give regular people, not just the wealthy, a chance to back promising young companies. But there's a catch: Companies that raise money this way are required to file an annual report with the U.S. Securities and Exchange Commission and post it publicly. This report, intended to show whether the business is making progress and how it is using investor funds, is a cornerstone of accountability in the system. As a professor of business law, I wrote the book on investment crowdfunding. And in my recent research, I found that a majority of crowdfunded companies simply ignore this rule. They raise the money and go silent, leaving investors in the dark. In most cases, I suspect their silence isn't part of an elaborate con. More likely, the founders never realized they had to file, forgot about the requirement amid the chaos of running a young business, or shut down entirely. But whether it's innocent oversight or deliberate avoidance, the effect on investors is the same: no information, no accountability. This kind of vanishing act would be unthinkable for public companies listed on the stock market. But in the world of investment crowdfunding, limited oversight means that going silent, whatever the reason, is all too easy. It's not just 1 or 2 victims When startups go dark, they don't just leave their investors behind—they undermine the entire crowdfunding model. Investment crowdfunding was meant to be an accessible, transparent way to support innovation. But when companies ghost their backers, the relationship starts to look less like an investment and more like a donation. It's not just unethical—it's illegal. Federal law requires at least one annual update. But so far, enforcement has been almost nonexistent. Concerned state attorneys general have encouraged the SEC to ramp up enforcement actions. This could work in theory, but it's unrealistic in practice, given the SEC's limited resources and broad mission. If nothing changes, the crowdfunding experiment could collapse under the weight of mistrust. Incentives work—let's use them Fortunately, there's a low-cost solution. I propose that crowdfunding platforms hold back 1% of the capital raised until the company files its first required report. If it complies, it gets the funds. If not, it doesn't. It's a small but powerful incentive that could nudge companies into doing the right thing, without adding bureaucratic complexity. It's the same principle used in escrow arrangements, which are common in finance. In a home sale, for example, part of the money goes into a neutral holding account—escrow—until the seller meets certain agreed conditions. Only then is it released. Applying that approach here, a small slice of crowdfunding proceeds would stay in escrow until the company files its first annual report. No report, no release. Unfortunately, crowdfunding platforms are unlikely to adopt this voluntarily. They compete with one another for deal flow, and any rule that makes fundraising slightly harder at one platform could send startups to a rival site. However, the SEC has the legal authority to update its rules, and this change would be easy to implement—no new laws, no congressional fights, just a bit of regulatory will. I've even drafted a proposed rule, ready-made for the SEC to adopt, and published it in my recent article, 'Ghosting the Crowd.' The idea behind investment crowdfunding remains powerful: Open the door to entrepreneurship and investment for everyone. But if that door leads to silence and broken promises, trust will disappear—and with it, a promising financial innovation. A tiny tweak to the rules could restore that trust. Without it, investors will keep getting ghosted. And the market might ghost them right back.
