Toronto, CA, January twenty third, 2025, Chainwire
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
SOL GLOBAL ANNOUNCES BINDING COMMITMENT FOR C$10 MILLION DEBENTURE PRIVATE PLACEMENT FROM STRATEGIC INVESTOR
70% OF NET PROCEEDS WILL BE USED FOR ADDITIONAL SOLANA PURCHASES
SOL International Investments Corp. (CSE: SOL) (FSE: 9SB) (“SOL International” or the “Firm”), one of many first publicly traded corporations targeted on institutional Solana investments, is happy to announce that it has entered right into a binding letter of intent on January 22, 2025 (the “LOI”) for the sale of an unsecured convertible debenture of SOL International (the “Convertible Debentures”) with a principal quantity of C$10,000,000 (the “Providing”).
The Convertible Debenture will probably be convertible into models of the Firm at a conversion value of $0.50 per unit, such that every unit shall embrace one frequent share of the Firm (the “Frequent Shares”) and one-half warrant whereby a full warrant is exercisable for a further Frequent Share for a interval of 12 months at an train value of $0.65.
The Debenture shall be funded in advances such that $2 million will probably be superior on closing and 4 advances of a further $2 million every shall be superior each 60 days following the closing. The holder of the Debenture and SOL International could mutually comply with speed up the date of a number of advances.
The holder of the Debenture shall be entitled to a 2.5% set-up charge of $250,000, to be settled by the discount of the quantity payable beneath the preliminary advance. The Debenture will mature 24 months from the date of subject and shall be topic to a ten% rate of interest, payable in money on the time of every advance and at maturity.
The LOI is a binding dedication of the purchaser and the transaction is predicted to shut on or earlier than January 30, 2025 (the “Closing Date”), topic to the getting into right into a definitive subscription settlement and Debenture, and sure customary situations together with, however not restricted to, the receipt of all needed regulatory and different approvals, and is topic to the insurance policies of the Canadian Securities Alternate (the “CSE”).
Use of Proceeds
The Firm intends to allocate 70% of the proceeds of the Providing towards the acquisition of Solana tokens, reinforcing its dedication to digital property and blockchain know-how.
Strategic Focus
This financing is aligned with SOL International’s technique to increase its digital asset portfolio and capitalize on rising alternatives within the blockchain and cryptocurrency sectors. By allocating a good portion of the proceeds to Solana tokens, the Firm is reaffirming its perception within the potential of decentralized ecosystems.
The Models will probably be provided on a non-public placement foundation in such jurisdictions because the Brokers and the Firm could mutually agree, together with (i) in all provinces of Canada pursuant to out there exemptions from the prospectus necessities of these provinces, (ii) in the US pursuant to out there exemptions from U.S. registration necessities, and (iii) worldwide or offshore jurisdictions pursuant to out there exemptions from the prospectus, registration or different related necessities in such worldwide or offshore jurisdictions, such that no prospectus, registration assertion or related doc is required to be ready or filed by the Firm in any such jurisdiction, in every case in accordance with relevant legal guidelines.
All Frequent Shares and Warrants issued pursuant to the Providing are topic to a maintain interval of 4 months plus in the future from the date of issuance of such securities beneath relevant securities legal guidelines in Canada.
This press launch doesn’t represent a suggestion to promote or a solicitation of a suggestion to purchase any of the securities described herein in the US. The securities described herein haven’t been and won’t be registered beneath the US Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities legal guidelines, and will not be provided or bought inside the US until registered beneath the U.S. Securities Act and relevant state securities legal guidelines or an exemption from such registration necessities is on the market.
For Additional Data Please Contact:
SOL International Investments Corp.
Paul Kania, Interim CEO, CFO
Tel: (212) 729-9208
E mail: [email protected]
Web site: https://solglobal.com/
About SOL International Investments Corp.
SOL International is a diversified worldwide funding and personal fairness holding firm. The Firm is within the technique of divesting its present funding partnerships and minority holdings. SOL International not too long ago introduced the transition of investments to focus completely on digital asset know-how, totally on Solana and Solana primarily based applied sciences.
Warning Relating to Ahead-Wanting Statements
This press launch consists of sure “forward-looking data” throughout the which means of relevant Canadian securities laws. All statements herein, aside from statements of historic reality, represent forward-looking data. Ahead-looking data is steadily, however not all the time, recognized by phrases resembling “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “attainable”, and related expressions, or statements that occasions, situations, or outcomes “will”, “could”, “might”, or “ought to” happen or be achieved. Ahead-looking data on this press launch consists of, however isn’t restricted to, statements relating to anticipated completion of the Personal Placement; the proposed use of proceeds of the Personal Placement; and statements regarding the Firm’s intention to extend its investments in Solana. Ahead-looking data displays the beliefs, opinions and projections on the date the statements are made and are primarily based upon numerous assumptions and estimates that, whereas thought of affordable by the Firm, are inherently topic to vital enterprise, technical, financial, and aggressive uncertainties and contingencies, together with the speculative nature of cryptocurrencies. Many components, each recognized and unknown, might trigger precise outcomes, efficiency or achievements to be materially totally different from the outcomes, efficiency or achievements which might be or could also be expressed or implied by such forward-looking data. Such dangers, uncertainties and different components embrace, with out limitation, the Firm’s capacity to finish the Personal Placement, on the proposed phrases and the proposed timeline, or in any respect; the Firm’s capacity execute on its enterprise and funding plans, together with the Firm’s capacity to boost debt or fairness via future financing actions and divest its present funding partnerships and minority holdings; the expansion of the Solana ecosystem; progress and improvement of decentralized finance and digital asset sector; guidelines and laws with respect to decentralized finance and digital property; and common enterprise, financial, aggressive, political and social uncertainties. There will be no assurance that such forward-looking data will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such data. Accordingly, readers shouldn’t place undue reliance on the forward-looking data. The Firm doesn’t undertake to replace any forward-looking data, besides in accordance with relevant securities legal guidelines.
Contact
VP
Deena Siblock
SOL International Investments Corp.
[email protected]
4169865142