SIMPLY SOLVENTLESS ANNOUNCES APPOINTMENT OF ANANTH KRISHNAN TO THE POSITION OF CHIEF FINANCIAL OFFICER
During his six years with Aurora, Ananth led Aurora's capital raising efforts, executed numerous M&A transactions, and played a pivotal role in the company's rapid growth, international expansion, and capital structure management. Ananth was part of a core Aurora leadership team that planned and executed on a strategic business transformation that saw Aurora emerge as the global leader in medical cannabis, with a strong balance sheet, and industry leading EBITDA and free cash flow generation.
Ananth began his career in investment banking at Canadian bank-owned dealers where he gained valuable capital markets and transaction experience. Since leaving investment banking, Ananth has held progressively senior finance positions in portfolio management and private equity, where he sourced, evaluated, and executed value focused acquisition opportunities across a variety of industries. Ananth is a Chartered Financial Analyst and holds a Bachelor of Commerce degree from the University of Calgary.
Jeff Swainson, President & CEO of SSC, stated: "Ananth is a respected leader with deep and meaningful experience, and we are honoured that he made the decision to join SSC. We are executing a transformational business plan, having expanded revenue from $7.0 million in 2023 to nearly $50.0 million annualized in Q1 2025, and we believe that we are positioned to become a true leader in the cannabis industry through continued operational execution and industry consolidation. Successfully executing on this mandate requires exceptionally talented leaders, and Ananth's unique experience, combined with his exceptional reputation and talent, will contribute greatly to executing on this plan. Ananth is a believer in SSC, and we believe that he will play a significant role in building SSC, and in creating meaningful value for our shareholders. From our entire team, welcome aboard, Ananth!".
In conjunction with his appointment, Ananth has been granted a total of 1,250,000 stock options of SSC at an exercise price of $.29 per share. The options expire after five years and vest 1/3 on the date of grant, 1/3 on the first anniversary of the grant, and 1/3 on the second anniversary of the grant. The appointment of Ananth and the option grant remains subject to the final approval of the TSXV.
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 SSC's expected results for Q1 2025, continued organic revenue growth, the continued synergies expected from integrating CannMart Inc., ANC, and Humble into SSC's operations, capitalizing on SSC's business plan and SSC's expected growth, results of operations and performance. 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. 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.
Future Oriented Financial Information
This press release contains future-oriented financial information and financial outlook information (collectively, "FOFI") about gross revenue, adjusted EBITDA and NNI of SSC, which are subject to the same assumptions, risk factors, limitations and qualifications as set forth in the above paragraphs. FOFI contained in this document was approved by management as of the date of this document and was provided for the purpose of providing further information about SSC's future business operations. SSC and its management believe that FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments, and represent, to the best of management's knowledge and opinion, SSC's expected course of action. However, because this information is highly subjective, it should not be relied on as necessarily indicative of future results. SSC disclaims any intention or obligation to update or revise any FOFI contained in this document, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. Readers are cautioned that the FOFI contained in this document should not be used for purposes other than for which it is disclosed herein. Differences in the timing of capital expenditures or revenues and variances in production estimates can have a significant impact on the key performance measures included in SSC's guidance. SSC's actual results may differ materially from these estimates.
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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