SOL Global Strengthens Financial Position with Partial Repayment to Senior Lender
Rhea-AI Summary
SOL Global Investments Corp. (CSE: SOL) (OTC Pink: SOLCF) has announced a successful $3.4 million debt repayment to its senior lender, Braebeacon Holdings Inc. This strategic move has reduced the outstanding loan balance to $10.2 million. The repayment is part of the company's broader financial strategy aimed at strengthening its financial position, reducing leverage, and lowering interest expenses while positioning itself for future growth opportunities.
Positive
- Reduced debt by $3.4 million
- Decreased interest expense burden
- Improved debt-to-equity ratio with lower loan balance of $10.2 million
Negative
- Significant remaining debt of $10.2 million
Toronto, Ontario--(Newsfile Corp. - December 11, 2024) - SOL Global Investments Corp. (CSE: SOL) (OTC Pink: SOLCF) (FSE: 9SB) ("SOL" or "the Company") is pleased to announce that it has successfully repaid
This repayment aligns with SOL Global's broader financial objectives and reflects the Company's ongoing commitment to strengthening its financial position and reducing leverage.
By strategically paying down this portion of its debt, the Company aims to reduce interest expenses and position itself for future growth opportunities.
About SOL Global Investments Corp.
SOL Global is a diversified international investment and private equity holding company. The Company is in the process of divesting its current investment partnerships and minority holdings. SOL Global recently announced the transition of investments to focus exclusively on digital asset technology, primarily on Solana and Solana based technologies.
CONTACT INFORMATION
SOL Global Investments Corp.
Paul Kania, Interim CEO, CFO
Phone: (212) 729-9208
Email: info@solglobal.com
Cautionary Statements
This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of the Company, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this press release relate to, among other things: statements relating to the successful closing of the Settlement and anticipated timing thereof and the intended use of proceeds. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, technical, economic, and competitive uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing, completion and delivery of the referenced assessments and analysis. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
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 confirms that there is no undisclosed material information of SOL Global at this time.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233298
FAQ
How much debt did SOL Global (SOLCF) repay in December 2024?
What is SOL Global's (SOLCF) remaining debt balance after the December 2024 repayment?
What are the expected benefits of SOL Global's (SOLCF) debt repayment?
Who is SOL Global's (SOLCF) senior lender for the $10.2 million remaining debt?
