The Company has successfully strengthened their ability to focus entirely on opportunities within the Solana ecosystem
SOL Global Investments Corp. (CSE: SOL) (FSE: 9SB) (“SOL Global” or the “Company”), one of the first publicly traded companies focused on institutional Solana investments, is pleased to announce the completion of its previously announced reorganization of assets and liabilities, whereby, among other things, the Company has transferred all of its assets other than its native Solana token assets (“Solana”), together with certain of its liabilities, into a newly formed entity (the “Reorganization”). The Company’s strategic reorganization is designed to enhance business focus on blockchain innovation, including its significant position in Solana, and decouple its new strategic approach from its historical liability.
Completion of the Reorganization
Pursuant to the terms of the Reorganization, SOL Global has transferred all of its assets other than Solana assets (collectively the “Transferred Assets”) together with certain of its liabilities (collectively, the “Transferred Liabilities”, and together with the Transferred Assets, the “Vehicle Portfolio”), into a newly created special purpose vehicle (the “Asset Vehicle”) in exchange for non-voting common shares in the capital of the Asset Vehicle (the “Non-Voting Common Shares”). In connection with the Reorganization, all secured liabilities, secured obligations and other security interests granted in favour of Braebeacon Holdings Inc. (the “Secured Party”) by SOL Global and a former partially-owned subsidiary, House of Lithium Ltd. (“HOL”), were assumed by the Asset Vehicle together with the Vehicle Portfolio in accordance with the terms and conditions of an assumption and amending agreement dated February 28, 2025 between, among others, the Company, the Secured Party, the Asset Vehicle and HOL (the “Assumption Agreement”) with respect to a loan that had been granted by the Secured Party to SOL and HOL in accordance with the terms of a loan agreement dated August 6, 2021, as amended from time to time (the “Loan Agreement”).
After giving effect to the Reorganization, SOL is the sole holder of all Non-Voting Common Shares, and the second lien lender under the Loan Agreement (the “Second Lien Lender”), is the sole holder of all voting common shares in the capital of the Asset Vehicle (the “Voting Shares”). As a result of SOL Global holding all of the Non-Voting Common Shares of the Asset Vehicle, any possible gain in the Transferred Assets will be largely held by SOL Global, however, SOL Global will not hold any voting rights in the Asset Vehicle. All of the Voting Shares issued and outstanding after giving effect to the Reorganization are held by the Second Lien Lender.
In accordance with the terms of the Assumption Agreement, the Asset Vehicle will operate as an independent entity, SOL Global will no longer be liable for the Transferred Liabilities, and such Transferred Liabilities will no longer appear on SOL Global’s balance sheet. The Company intends to invest the remaining cash following the disposition of the Vehicle Portfolio for additional Solana tokens.
Following the completion of the Reorganization, the only assets held in SOL Global’s portfolio will be its Solana assets and its equity position in the Asset Vehicle. SOL Global is an investment issuer listed on the Canadian Securities Exchange (the “CSE”) that has applied to list on the Nasdaq exchange in order to expand its investor base and access to new capital and financing opportunities. SOL Global holds certain portfolio assets which, after giving effect to the Reorganization, consist predominately of blockchain tokens, initially consisting only of Solana tokens. The Transferred Assets consist of securities of mainly electric vehicle companies together with certain real estate assets. While the change in focus of portfolio assets does represent a new strategic direction of the Company to increase the value of its portfolio, SOL Global will continue to be an investment issuer and may change the strategic focus of its portfolio at any time, including investing in portfolio assets other than blockchain tokens.
Strategic Investment in Blockchain Innovation
SOL Global’s investment strategy is centered on strategic positioning for long-term success, including leveraging blockchain’s growth trajectory in this rapidly evolving sector.
Solana’s competitive advantage lies in its scalability and efficiency, offering high-speed transactions with low fees. Its integration with major platforms, wallets, and blockchain networks enhances interoperability, driving broader adoption.
For Further Information Users Can Contact:
SOL Global Investments Corp.
Paul Kania, Interim CEO, CFO
Tel: (212) 729-9208
Email: info@solglobal.com
Website: https://solglobal.com/
About SOL Global Investments Corp.
SOL Global is pioneering institutional investment in the Solana ecosystem. As one of the first publicly traded companies globally focused on Solana investment, SOL Global aims to provide unprecedented public exposure to the Solana blockchain through token acquisition, staking for yield generation, and investments in early-stage ventures being built on Solana.
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