SOL GLOBAL ANNOUNCES its binding commitment to a private placement of C$10 million of bonds from a strategic investor
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Toronto, California, January 23, 2025, Chainwire
Not intended for distribution to U.S. news wire services or for publication in the United States
SOL GLOBAL ANNOUNCES its binding commitment to a private placement of C$10 million of bonds from a strategic investor
70% of net proceeds will be used for additional Solana purchases
Sol Global Investments (CSE: SOL) (FSE: 9SB) (“Sol Global“or”a company“), one of Solana’s first publicly traded companies focused on institutional investments, is pleased to announce that it has entered into a binding letter of intent on January 22, 2025 (“Letter of intent“”) to sell unsecured convertible bonds to SOL Global (“Convertible bonds“”) in a principal amount of CAD 10,000,000 (“an offer“).
The Convertible Note will be convertible into units of the Company at a conversion price of $0.50 per unit, with each unit comprising one common share of the Company (“Common stock”) and a half warrant whereby a whole warrant can be exercised for an additional 12-month common share at an exercise price of $0.65.
The note will be pre-funded with a $2 million advance at closing and four additional $2 million advance payments each made 60 days after closing. The Noteholder and SOL Global may mutually agree to accelerate the date of one or more advances.
The noteholder is entitled to a 2.5% preparation fee of $250,000, settled by reducing the amount payable under the initial advance. The bond matures 24 months from the date of issuance and is subject to an interest rate of 10%, payable in cash at the time of each advance and at maturity.
The Letter of Intent is a binding commitment to the buyer and the transaction is expected to close on or before January 30, 2025 (“Closing date“), subject to entering into a definitive subscription agreement and debt securities, and certain customary conditions including, without limitation, the receipt of all necessary regulatory and other approvals, and subject to the policies of the Canadian Securities Exchange (“”).Private search engine“).
Use of proceeds
The company intends to allocate 70% of the proceeds from the offering to purchase Solana tokens, further strengthening its commitment to digital assets and blockchain technology.
Strategic focus
This financing is in line with SOL Global’s strategy to expand its digital assets portfolio and capitalize on emerging opportunities in the blockchain and cryptocurrency sectors. By allocating a significant portion of the proceeds to Solana tokens, the company reaffirms its belief in the potential of decentralized ecosystems.
The units will be offered on a private placement basis in such jurisdictions as the Agents and the Company may mutually agree to, including (i) in all provinces of Canada subject to available exemptions from the prospectus requirements of those provinces, and (ii) in the United States states pursuant to available exemptions from the prospectus requirements of those provinces. U.S. registration requirements, and (iii) international or offshore jurisdictions pursuant to available exemptions from prospectus, registration or other similar requirements in such international or offshore jurisdictions, such that no prospectus, registration statement or similar document to be prepared or furnished shall be filed. before Company in any such jurisdiction, and in each case in accordance with applicable laws.
All ordinary shares and warrants issued pursuant to the Offering are subject to a hold period of four months plus one day from the date of issuance of such securities under applicable securities laws of Canada.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (“US securities law“), or any state securities laws, and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.
For more information please contact:
Sol International Investments Company
Paul Kania, interim CEO, CFO
Phone: (212) 729-9208
Email: [email protected]
Website: https://solglobal.com/
About Sol International Investments Company
SOL Global is a diversified international investment and private equity holding company. The company is in the process of divesting its current investment partnerships and minority holdings. SOL Global recently announced a shift in investments to focus exclusively on digital asset technology, primarily on Solana and Solana-based technologies.
Caution regarding forward-looking statements
This press release includes certain “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements contained herein, other than statements of historical fact, constitute forward-looking information. Forward-looking information is often, but not always, identified by words such as “expect”, “anticipate”, “believe”, “intend”, “estimate”, “potential”, “possible”, etc. Similar expressions or statements. That events, conditions or results “will”, “may”, “could” or “should” occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements regarding the expected completion of the Private Placement; Proposed use of proceeds from the Private Placement; And data related to the company’s intention to increase its investments in Solana. Forward-looking information reflects the beliefs, opinions and expectations at the date the statements are made and is based on a number of assumptions and estimates that, although considered reasonable by the Company, are subject to significant business, technical, economic and competitive nature. Uncertainties and contingencies, including the speculative nature of cryptocurrencies. Many factors, both known and unknown, could cause actual results, performance or achievements to differ materially from the results, performance or achievements expressed or implied by such forward-looking information. These risks, uncertainties and other factors include, but are not limited to, the Company’s ability to complete the Private Placement, on the proposed terms and timeline, or at all; the Company’s ability to execute its business and investment plans, including the Company’s ability to raise debt or equity through future financing activities and divest its existing investment partnerships and minority holdings; Solana ecosystem growth. Growth and development of the decentralized finance and digital assets sector; Rules and regulations related to decentralized finance and digital assets; and general business, economic, competitive, political and social uncertainties. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update any forward-looking information, except in accordance with applicable securities laws.
communication
Vice President
Dina Siblock
Sol International Investments Company
[email protected]
4169865142
