SOL Global Announces Strategic Acquisition of Additional 12,828 Solana Tokens
Rhea-AI Summary
SOL Global Investments Corp. (CSE: SOL) has announced a strategic acquisition of 12,828 Solana tokens at US$192 per token, for a total purchase price of US$2,462,976. The transaction, executed using USDC stablecoin, will increase the company's total Solana holdings to 30,601 tokens.
The acquisition was completed through a Purchase and Sale Agreement dated February 3, 2025, with closing expected around February 22, 2025. The tokens are subject to a vesting schedule with incremental monthly releases until January 7, 2028. According to Paul Kania, interim CEO and CFO, the purchase was made at a significant discount to spot prices through a private transaction with a strategic trading partner.
Positive
- Acquisition of 12,828 Solana tokens at below-market prices
- Total holdings increase to 30,601 tokens, strengthening market position
- Transaction executed in USDC stablecoin, ensuring security and efficiency
Negative
- Extended vesting schedule until January 2028 limits token liquidity
- Significant capital expenditure of US$2.46M in single cryptocurrency asset
News Market Reaction
On the day this news was published, SOLCF gained 1.31%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
The purchase will increase SOL Global's Total Solana Holdings to 30,601 Tokens
Toronto, Ontario--(Newsfile Corp. - February 4, 2025) - 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 that it has entered into a Purchase and Sale Agreement dated February 3, 2025 (the "Agreement") for the acquisition of 12,828 Solana tokens (the "Tokens").
SOL Global will acquire the Tokens at a price of US
"This new purchase of Solana tokens is highly accretive for shareholders, as it was done at a meaningful discount to spot Solana prices by way of a private transaction with a strategic trading partner," said Paul Kania, interim CEO and CFO of SOL Global. "We are committed to providing traditional public markets investors with exposure to the Solana ecosystem and we are very excited to have acquired more Solana tokens at a time when the entire Solana ecosystem continues to break records for trading volumes and fee generation."
For Further Information Please 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.
Forward-Looking Statements
It is possible that the transactions described herein may not close on the terms or timing provided, or at all.
This press release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. Forward-looking information is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management's perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. It is possible that the Investment may not close on the terms or timing set out herein, or at all. By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release including, and changes in national or regional economic, legal, regulatory and competitive conditions. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward- looking information, except as required by applicable law.
SOL Global is not an affiliate of Solana and does not produce or operate blockchain technology.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/239558
FAQ
How many Solana tokens did SOL Global (SOLCF) acquire in February 2025?
What is the total value of SOL Global's February 2025 Solana token purchase?
What is SOL Global's (SOLCF) total Solana token holding after the February 2025 acquisition?
When does the vesting schedule for SOL Global's new Solana tokens end?
How did SOL Global (SOLCF) execute the Solana token purchase transaction?
