Circle8 Group Eliminates $35 Million Convertible Seller's Note Through Definitive Settlement Agreement With SPP Credit Advisors

ENGLEWOOD CLIFFS, N.J., Aug. 10, 2026 (GLOBE NEWSWIRE) -- Circle8 Group, Inc. (Nasdaq: CIRC) ("Circle8" or the "Company") today announced that it has executed a definitive settlement agreement with SPP Credit Advisors, LLC ("SPP"), resolving all outstanding litigation between the parties, releasing, cancelling and discharging the Company's $35 million Convertible Seller's Note due March 2027 and substantially restructuring the Company's remaining legacy financing arrangements with SPP.

The definitive settlement agreement cures existing defaults under the Company's obligations to SPP, restores the remaining indebtedness to its contractual non-default interest rate, eliminates default interest and establishes an orderly framework for repayment of the remaining indebtedness. Collectively, these actions strengthen the Company's balance sheet, simplify its capital structure and enhance financial flexibility as the Company focuses on improving operating performance, expanding margins, strengthening cash flow and executing its long-term strategic priorities.