Sol Global Investments Stock Price, News & Analysis

SOL Global Investments Corp. has approved a substantial issuer bid to repurchase up to $30,000,000 of its common shares at a premium to market price. Following a previous normal course issuer bid where 2,737,805 shares were repurchased, this new bid aims to enhance shareholder value. Engaging Clarus Securities Inc. as the advisor and dealer manager, the company anticipates commencing the bid by late September, pending regulatory approvals. CEO Andy DeFrancesco stated the stock is currently undervalued based on their net asset value.

SOL Global Investments Corp. has announced the successful settlement of litigation with 1235 Fund LP, involving a senior secured non-convertible debenture worth CAD$50 million. The settlement concluded with a total payment of CAD$120 million made to 1235.

Additionally, SOL Global completed its normal course issuer bid, repurchasing approximately 2,737,805 common shares at an average price of $4.1466 per share, reducing the total outstanding shares to 52,018,533.

SOL Global Investments Corp. (CSE: SOL, OTC: SOLCF) has invested USD$20 million in Common C Holdings LP, a Michigan-based firm providing support services to licensed cannabis operators. This investment, acquiring 1.4 million Class B Common Units, positions SOL Global to capitalize on the rapidly growing Michigan cannabis market, which achieved $170 million in July revenues, marking over 500% growth in 18 months. Expected revenues in the state are projected to exceed $1.5 billion in 2021, climbing to $4 billion in the next 3-5 years.

On August 18, 2021, Andrew DeFrancesco, CEO of SOL Global Investments Corp, acquired a total of 630,700 common shares, increasing his ownership stake from 0.97% to approximately 2.18%. The shares were obtained through a market transaction at an average price of CAD$3.5926 and a private transaction at USD$3.30. If all deferred and performance share units held by DeFrancesco are converted, his ownership could rise to 10%. He expressed confidence in SOL's potential, citing temporary weaknesses in the US cannabis sector.

SOL Global Investments Corp. (SOL Global) announces the continuation of its normal course issuer bid (NCIB), having purchased 1,538,800 common shares at an average price of $4.3831 each. The total maximum shares for repurchase is 2,737,805, representing 5% of the outstanding shares. Additionally, the company adds two new board members: Alex Spiro and Kevin Taylor. SOL Global is diversifying its portfolio with significant investments in cannabis, health, and emerging mobility technologies, including Damon Motors and Tevva Motors. Corporate governance is strengthened with new performance share units being issued.

SOL Global Investments Corp. announces the settlement of litigation concerning a CAD $50 million secured non-convertible debenture with 1235 Fund LP. A subsidiary will acquire all rights under the debenture for CAD $120 million, which includes a CAD $68.5 million premium. To finance this, SOL Global secured a CAD $50 million loan at 9% interest for 12 months. CEO Andy DeFrancesco expressed confidence in the company's core holdings despite using a loan for acquisition funding. The settlement has concluded on acceptable terms for both parties involved.

SOL Global Investments Corp. reported significant financial growth for the six months ending May 31, 2021. Net income soared to $272.8 million compared to $4.2 million in the same period in 2020, marking a positive change of $268.6 million. Investment gains also rose sharply to $327.5 million from $27.4 million. The net asset value per share increased to $7.43 from $2.38. The company is diversifying its portfolio into cannabis and other sectors, positioning itself for future growth.

Jones Soda Co (OTCQB: JSDA) has issued a US$2,000,000 unsecured convertible debenture to SOL Global Investments Corp and entered a non-binding term sheet with Pinestar Gold Inc. to expand into cannabis beverages and edibles. The proceeds will be used exclusively for transaction costs and business expansion. The transaction includes a proposed acquisition of Pinestar, with Jones offering 4,000,000 shares and warrants. The deal depends on due diligence, regulatory approvals, and shareholder consent. The potential expansion aligns with Jones' brand identity.

SOL Global Investments has acquired 1,538,800 common shares under its normal course issuer bid (NCIB), which allows for a maximum purchase of 2,737,805 shares. This represents approximately 5% of its outstanding shares. The average purchase price was $4.3831. Currently, there are 53,217,538 shares issued, with 1,199,005 shares remaining to purchase by the end of the NCIB, set to expire on March 31, 2022. CEO Andy DeFrancesco expressed confidence in the company's portfolio companies, highlighting their ongoing share repurchases.