Pineapple Financial Completes $2 Million INJ Purchase

Rhea-AI Summary

Pineapple Financial (NYSE American: PAPL) completed a $2.0 million open-market purchase of 560,647 INJ at a weighted average price of $3.567 per token on February 19, 2026, as part of its ongoing digital asset treasury strategy.

The company reports $20.79 million in capital reserves available for future INJ purchases and a combined treasury value of $41.89 million, compared with an approximate market capitalization of $18 million. A public dashboard provides real-time treasury metrics.

Positive

• Completed a targeted $2.0M open-market purchase of 560,647 INJ
• Maintains $20.79M in capital reserves for future INJ purchases
• Combined treasury valued at $41.89M, exceeding market cap (~$18M)

Negative

• Heavy exposure to a single token: 560,647 INJ acquired in treasury
• Ongoing open-market purchases could create market-timing and price-impact risks

Acquires 560,647 INJ at average price of $3.567 per token as part of ongoing digital asset treasury strategy; $20.79 million in capital reserves available for future purchases

Toronto, Ontario--(Newsfile Corp. - February 19, 2026) - Pineapple Financial Inc. (NYSE American: PAPL) ("Pineapple" or the "Company") today announced that it has completed a $2 million open-market purchase of Injective (INJ) tokens. The acquisition of 560,647 INJ at a weighted average purchase price of $3.567 per token represents the latest milestone in the Company's ongoing digital asset treasury strategy.

This purchase further strengthens Pineapple's position as a leading publicly traded company with a dedicated digital asset treasury program. The Company's treasury currently maintains $20.79 million in capital reserves available for its continued market cash purchase program for INJ, underscoring management's long-term conviction in the Injective ecosystem.

"This $2 million acquisition reflects our disciplined and strategic approach to building our INJ treasury position," said Shubha Dasgupta, CEO of Pineapple Financial. "With $20.79 million in capital reserves earmarked for continued open-market purchases, and a combined treasury currently valued at $41.89 million compared to a market capitalization of approximately $18 million, we believe our equity does not yet fully reflect the underlying value of our digital asset holdings. We remain committed to deploying capital in a manner that we believe will be accretive to our shareholders over time."

Key Transaction Details

Total Purchase Amount: $2 million

Tokens Acquired: 560,647 INJ

Average Purchase Price: $3.567 per INJ

Acquisition Method: Open-market purchases

Available Capital Reserves: $20.79 million for future INJ purchases

Real-Time Treasury Dashboard

Investors and stakeholders can access a transparent, real-time view of PAPL's INJ treasury metrics and trends through the Company's dedicated Digital Asset Treasury Dashboard at pineappledigitalassets.com/dat-dashboard. The dashboard provides comprehensive data on treasury holdings, purchase history, and key performance indicators all in one place.

About Pineapple Financial Inc.

Pineapple Financial Inc. (NYSE American: PAPL) is a publicly traded company with a digital asset treasury strategy focused on accumulating INJ tokens through disciplined open-market purchases. The Company is committed to delivering shareholder value through strategic capital allocation in the dynamic digital asset landscape.

In addition to its digital asset treasury, Pineapple is an award-winning fintech and leading Canadian mortgage brokerage network, focusing on both the long-term success of agents and brokers as well as the overall experience of homeowners. With hundreds of brokers within the network, Pineapple creates cutting-edge cloud-based tools and AI-driven systems to enable its brokers to help Canadians realize their dream of owning a home. Pineapple is active within the community and is proud to sponsor charities across Canada to improve the lives of fellow Canadians.

Safe Harbor Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. They are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and economic needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions, fluctuations in the market price of INJ and any associated impairment charges that we may incur as a result of a decrease in the market price of INJ below the value at which INJ is carried on our balance sheet; changes in the accounting treatment relating to our INJ holdings; the Company's financial condition, customer acceptance of our INJ treasury strategy, and other factors discussed in the "Risk Factors" section of the registration statements, and periodic reports filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results. It encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov.

Media Contact:
KCSA Strategic Communications
Kristin Cwalinski
pineapple@kcsa.com

Investor Relations:
KCSA Strategic Communications
Jack Perkins
pineapple@kcsa.com

Follow us on social media:
Instagram: @pineapplemortgage @empoweredbypineapple
Facebook: Pineapple Mortgage
LinkedIn: Pineapple Mortgage
X (Formerly Twitter): @PAPLpineapple

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284453

FAQ

What did Pineapple Financial (PAPL) announce on February 19, 2026 regarding INJ purchases?

They completed a $2.0 million open-market purchase of 560,647 INJ on February 19, 2026. According to the company, the purchase averaged $3.567 per token and is part of its ongoing digital asset treasury strategy.

How much capital does Pineapple Financial (PAPL) have reserved for future INJ purchases?

Pineapple reports $20.79 million in capital reserves earmarked for future INJ purchases. According to the company, those reserves support a continued market cash purchase program for INJ tokens.

What is the size and valuation of Pineapple Financial's INJ treasury relative to PAPL market cap?

The company says the combined treasury is valued at $41.89 million, versus an approximate market capitalization of $18 million. According to the company, this suggests treasury value exceeds current equity market value.

Where can investors view Pineapple Financial's INJ treasury holdings and purchase history?

Investors can view a real-time Digital Asset Treasury Dashboard at pineappledigitalassets.com/dat-dashboard. According to the company, the dashboard shows treasury holdings, purchase history, and key performance indicators.

How many INJ tokens did Pineapple Financial (PAPL) acquire in the February 19, 2026 purchase?

Pineapple acquired 560,647 INJ tokens in the transaction. According to the company, the weighted average purchase price for those tokens was $3.567 per INJ.

How might Pineapple Financial's open-market INJ purchases affect shareholders of PAPL?

Open-market purchases can increase treasury exposure to INJ and potentially boost per-share value if assets appreciate. According to the company, purchases are intended to be accretive over time but carry token price and liquidity risks.