Above Food Ingredients, In Partnership With Palm Global, Eliminates Debt And Targets $30M FY26 Profit, Establishing Foundation For Sustainable Growth Despite FY25 Restructuring Loss

Above Food Ingredients Inc. (NASDAQ:ABVE) ("Above Food" or the "Company") is pleased to provide shareholders with a significant corporate update highlighting the Company's ongoing audit process, transformative restructuring achievements, and continued advancement of its merger with Palm Global.

Audit Advancing Toward Completion

Following the strategic appointment of a new auditor with specialized expertise in digital asset tokenization and stablecoin infrastructure, the Company's audit is progressing toward completion and the targeted filing of its Form 20‑F by December 12, 2025. At this time, the Company has not applied for the additional 180‑day extension available under Nasdaq rules.

Restructuring Success: Debt Eliminated, Profitability Secured

In collaboration with Palm Global, Management has implemented a comprehensive restructuring program over the past year that has:

Eliminated all corporate debt
Positioned the Company to deliver more than $30 million in profit for the fiscal year ending January 31, 2026
Established a solid foundation for sustainable profitability and long‑term growth
While the fiscal year ended January 31, 2025 will reflect a restructuring‑related loss, the Company is now firmly positioned for transformative success and enhanced shareholder value.