SOL STRATEGIES INC - CYFRF STOCK NEWS

Sol Strategies (CSE: HODL) (OTC Pink: CYFRF) has announced strategic portfolio adjustments, acquiring 12,389 SOL at an average price of CAD $240.12, bringing their total SOL holdings to 130,125.2186 (valued at CAD $32,202,081). Simultaneously, the company sold 24.5026 bitcoin at CAD $95,878.28 per BTC, generating CAD $2,349,267 in proceeds. The company retains 23.168 bitcoin, valued at approximately CAD $2,250,466. This reallocation aligns with their focus on Solana's role in decentralized finance while maintaining a reduced Bitcoin position.

Sol Strategies (CSE: HODL, OTC: CYFRF) announced a Letter of Intent to acquire four blockchain validators and provided a financial update. The acquisition involves payments of CAD $1.38M in cash, CAD $1.38M in shares at closing, and CAD $7.61M in shares over three years based on performance. The company drew down USD $2M from its loan facility and increased its Solana holdings to 117,619.10 SOL (CAD $28.6M). Since June 2024, staking operations generated 1,944.22 SOL in revenue. The company sold 8.57 bitcoin for CAD $787,991 and currently holds 47.67 bitcoin valued at CAD $4.5M. Additional investments include SOL options and private equity valued at CAD $442,000.

Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF) has secured a CAD $10 million unsecured, revolving demand credit facility from its Chairman and director, Antanas Guoga. The facility, effective until October 21, 2026, carries a 5% annual interest rate. Sol Strategies plans to use the funds for working capital and investment purposes. This transaction is considered a 'Related Party Transaction' under MI 61-101, with the company relying on exemptions from formal valuation and minority shareholder approval requirements.

CEO Leah Wald emphasized the non-dilutive nature of the financing and the financial flexibility it provides. The credit facility was unanimously approved by the company's board of directors, including independent directors, who deemed the terms reasonable and commercially favorable.

Antanas Guoga, Chair and director of Sol Strategies Inc. (formerly Cypherpunk Holdings Inc.), has filed an early warning report regarding the acquisition of 16,575,000 common shares and the disposition of 1,221,000 common shares of the Company. The transactions occurred between September 16, 2022, and October 1, 2024, through the Canadian Securities Exchange and stock option exercises.

Prior to these transactions, Mr. Guoga held approximately 23.25% of the issued and outstanding Common Shares on an undiluted basis. After the acquisition and disposition, his holdings increased to approximately 36.0% of the issued and outstanding Common Shares on an undiluted basis. The transactions were completed for investment purposes, and Mr. Guoga may adjust his holdings in the future based on market conditions and other factors.

Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF) reported a significant increase in SOL delegated to its public validator for staking rewards on the Solana blockchain. As of October 15, 2024, approximately 225,158.82 SOL (CAD $48,086,433.94) had been delegated, including 105,288.99 SOL from the company and the rest from third parties. The company's total SOL holdings reached 105,389.79 SOL (CAD $22,493,066.54).

The growth in delegated amount includes 118,596.55 SOL from the Solana Foundation's delegation program and 1,290.032993 SOL (CAD $275,328.36) from other third parties. CEO Leah Wald attributed this increase to the team's operational excellence and commitment to maintaining top-tier validator performance.

Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF), a Canadian holding company focused on the Solana blockchain ecosystem, has acquired 4,341.80 SOL at an average price of CAD $191.77 per SOL. This acquisition brings the company's total SOL holdings to 105,249.82. The newly acquired SOL is intended for staking within the Solana blockchain.

CEO Leah Wald stated that following the successful recovery from FTX's bankruptcy proceedings, the company has strategically increased its SOL holdings and enhanced its staking operations. This move aims to strengthen Sol Strategies' position in the Solana ecosystem and continue delivering value to shareholders through efficient management of its digital asset portfolio.

Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF) has recovered approximately CAD $825,450 (US $611,494) from FTX's bankruptcy proceedings, representing a 122% premium on their original US$500,000 investment. The company has also increased its Solana holdings to 100,763.0230 SOL (valued at $20.8 million), up from 86,294.0575 SOL in July 2024.

Since June 14, 2024, Sol Strategies has generated gross revenue of 1,430 SOL ($282,910) from staking, with a gross profit of $266,680. The company currently holds 56.2406 bitcoin (valued at approximately $4.8 million) and has $1,795,000 in cash. Additionally, Sol Strategies maintains private equity/venture capital investments with a book value of about $442,000.

Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF), formerly Cypherpunk Holdings Inc., has rebranded to reflect its new investment strategy focused on Solana. The company aims to stake Solana and invest in related projects and infrastructure. The name change, effective September 12, 2024, was approved by the board and shareholders. Sol Strategies will continue trading under the ticker HODL on CSE and CYFRF on OTC.

CEO Leah Wald stated that the rebranding positions the company to capitalize on growth potential within the Solana ecosystem. The shift allows shareholders to gain indirect exposure to Solana holdings and potential investments in Solana-based projects. Sol Strategies is operating its own validator node on Solana through a third-party service provider and aims to connect public markets to decentralized finance.

Cypherpunk Holdings Inc. (CSE: HODL) (OTC Pink: CYFRF) has entered into an investor relations agreement with Proconsul Capital The agreement, effective until October 30, 2024, involves Proconsul providing strategic communication services for a monthly fee of $7,000 plus HST. As part of the agreement, Cypherpunk has issued stock options to Proconsul for 100,000 common shares at $0.145 per share, exercisable until September 11, 2026. Additionally, Cypherpunk has granted stock options for 49,971 common shares to newly appointed director Ungad Chadda at the same price, expiring on September 10, 2029. Both option grants were made under the company's stock option plan approved by shareholders on July 30, 2024.