Sol Strategies Announces CAD $27.5 Million Private Placement with ParaFi Capital
Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF) has announced a CAD $27.5 million private placement financing with ParaFi Capital. The financing consists of convertible debenture units, each including a CAD $1,000 debenture and 400 warrants. The debentures carry a 2.5% annual interest rate and are convertible into company shares at CAD $2.50 per share.
The warrants allow holders to purchase shares at CAD $2.50 per share within five years of closing. The debentures are redeemable in cash after three years at 112% of principal value plus interest. The proceeds will be used to increase SOL treasury holdings and expand revenue-generating validator operations. The private placement is expected to close around January 16, 2025.
Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF) ha annunciato un finanziamento di collocamento privato di 27,5 milioni di CAD con ParaFi Capital. Il finanziamento consiste in unità di obbligazioni convertibili, ognuna delle quali include un'obbligazione di 1.000 CAD e 400 warrant. Le obbligazioni presentano un tasso d'interesse annuale del 2,5% e sono convertibili in azioni della società a 2,50 CAD per azione.
I warrant consentono ai detentori di acquistare azioni a 2,50 CAD per azione entro cinque anni dalla chiusura. Le obbligazioni possono essere riscattate in contante dopo tre anni al 112% del valore nominale più interessi. I proventi saranno utilizzati per aumentare le partecipazioni della tesoreria SOL e ampliare le operazioni di validazione che generano entrate. Si prevede che il collocamento privato si chiuda intorno al 16 gennaio 2025.
Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF) ha anunciado un colocación privada de financiamiento de 27,5 millones de CAD con ParaFi Capital. El financiamiento consiste en unidades de bonos convertibles, cada una de las cuales incluye un bono de 1,000 CAD y 400 warrants. Los bonos tienen un tasa de interés anual del 2.5% y son convertibles en acciones de la empresa a 2.50 CAD por acción.
Los warrants permiten a los tenedores comprar acciones a 2.50 CAD por acción dentro de los cinco años siguientes al cierre. Los bonos son redimibles en efectivo después de tres años al 112% del valor nominal más interés. Los ingresos se utilizarán para aumentar las participaciones del tesorería de SOL y expandir operaciones de validación que generan ingresos. Se espera que la colocación privada se cierre alrededor del 16 de enero de 2025.
Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF)는 ParaFi Capital과 함께 2750만 캐나다 달러 규모의 사모 펀딩을 발표했습니다. 이 자금 조달은 각각 1000 캐나다 달러의 채권과 400개의 워런트가 포함된 전환 사채 유닛으로 구성됩니다. 채권은 연 2.5% 이자율을 가지며, 회사 주식으로 주당 2.50 캐나다 달러로 전환할 수 있습니다.
워런트는 보유자가 마감 후 5년 이내에 주당 2.50 캐나다 달러에 주식을 구매할 수 있도록 합니다. 채권은 3년 후에 원금의 112%와 이자를 포함하여 현금으로 상환될 수 있습니다. 조달된 자금은 SOL 재무 보유를 늘리고 수익 창출을 위한 검증자 운영을 확장하는 데 사용될 것입니다. 사모 펀딩은 2025년 1월 16일 경에 마감될 것으로 예상됩니다.
Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF) a annoncé un financement par placement privé de 27,5 millions CAD avec ParaFi Capital. Le financement consiste en unités d'obligations convertibles, chacune comprenant une obligation de 1 000 CAD et 400 bons de souscription. Les obligations portent un taux d'intérêt annuel de 2,5% et peuvent être converties en actions de l'entreprise à 2,50 CAD par action.
Les bons de souscription permettent aux détenteurs d'acheter des actions à 2,50 CAD par action dans les cinq ans suivant la clôture. Les obligations sont remboursables en espèces après trois ans à 112% de la valeur nominale plus les intérêts. Les produits seront utilisés pour augmenter les avoirs du trésor SOL et développer les opérations de validation génératrices de revenus. La clôture du placement privé est prévue autour du 16 janvier 2025.
Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF) hat eine private Platzierung in Höhe von 27,5 Millionen CAD mit ParaFi Capital angekündigt. Die Finanzierung besteht aus wandelbaren Anleihen, von denen jede eine Anleihe über 1.000 CAD und 400 Warrants umfasst. Die Anleihen haben einen jährlichen Zinssatz von 2,5% und sind im Austausch gegen Unternehmensanteile zu 2,50 CAD pro Aktie wandelbar.
Die Warrants ermöglichen es den Inhabern, innerhalb von fünf Jahren nach Abschluss Aktien zu einem Preis von 2,50 CAD pro Aktie zu erwerben. Die Anleihen sind nach drei Jahren gegen Bargeld zum 112% des Nennwerts zuzüglich Zinsen rückzahlbar. Die Erlöse werden verwendet, um die SOL-Treasury-Bestände zu erhöhen und die umsatzgenerierenden Validator-Operationen auszubauen. Der Abschluss der privaten Platzierung wird um den 16. Januar 2025 herum erwartet.
- Secured substantial CAD $27.5 million financing from a major blockchain investment firm
- Funds will expand revenue-generating validator operations
- Low interest rate of 2.5% on convertible debentures
- Strategic partnership with ParaFi Capital provides industry expertise and network access
- Potential dilution for existing shareholders through convertible debentures and warrants
- Debt obligation with 112% redemption premium after three years
Proceeds to be used to Increase SOL Holdings and Expand Validator Operations
Toronto, Ontario--(Newsfile Corp. - January 9, 2025) - Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF) ("Sol Strategies" or the "Company"), a publicly traded Canadian company dedicated to investing in and providing infrastructure for the Solana blockchain ecosystem, today announced a private placement financing of CAD
The Private Placement will consist of unsecured convertible debenture units ("CD Units") for gross proceeds of CAD
"This financing, led by ParaFi Capital, underscores strong confidence in the potential of Sol Strategies," said Leah Wald, CEO of Sol Strategies. "It positions the company to strengthen its leadership in the Solana ecosystem, leveraging staking rewards to create long-term, sustainable value for our shareholders. ParaFi is the ideal capital partner given their crypto-native expertise, broad portfolio, and scaled capital base."
Ryan Navi, Managing Director at ParaFi Capital, commented, "ParaFi is excited to back the Sol Strategies team in their mission to build critical infrastructure for the Solana ecosystem. ParaFi's investment will empower Sol Strategies to operate best-in-class validator services, implement a SOL treasury strategy, and support the Solana network. We believe this investment will unlock new opportunities and business lines for Sol Strategies, marking a significant step toward creating greater shareholder value."
About Sol Strategies
Sol Strategies is a publicly traded Canadian company actively investing in, supporting, and providing infrastructure for the Solana blockchain and ecosystem. The Company focuses on leveraging investment opportunities in staking rewards and Solana-based projects, enabling shareholders to indirectly participate in the decentralized finance landscape. Sol Strategies is headquartered in Toronto, Canada, and is publicly listed on the Canadian Securities Exchange under the ticker "HODL" and on the OTC market under the ticker "CYFRF".
To learn more about Sol Strategies, please visit www.solstrategies.io. A copy of this news release and all the Company's related material documents regarding the Company may be obtained under the Company's SEDAR+ profile at www.sedarplus.ca.
About ParaFi Capital
ParaFi Capital LP is an alternative asset management firm that operates hedge fund and venture capital strategies focused on the digital asset ecosystem. Founded in 2018, ParaFi was among the earliest investors in the blockchain industry and has evolved into a trusted partner by leading institutions globally. ParaFi's investment and technology team pursues idiosyncratic opportunities across venture, liquid, and quantitative strategies. As a firm, ParaFi is committed to a culture of rigorous research, technical development, and institutional underwriting to enable exceptional results for our partners and portfolio companies.
For more information, please visit https://parafi.com/.
Cautionary Note Regarding Forward-Looking Information:
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward‐looking statements and information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to the Company's or the Company's management team's expectations, hopes, beliefs, intentions or strategies regarding the future, and expectations regarding the characteristics, value drivers, and anticipated benefits of the Company's business plans and operations related thereto. Forward-looking information can also be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or indicates that certain actions, events or results "may", "could", "would", "might" or "will be" taken, "occur" or "be achieved".
Forward-looking statements in this news release include statements regarding the completion of the Private Placement and its impact on the Company. There is no assurance that the Private Placement will close or that the Company's plans or objectives will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made and is subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.
There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking statements are made based on management's beliefs, estimates, and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates, and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.
Disclaimer:
Sol Strategies is an independent organization in the Solana ecosystem. Sol Strategies is not affiliated with, owned by, or under common control with Solana Foundation (the "Foundation"), and the Foundation has not entered into any association, partnership, joint venture, employee, or agency relationship with Sol Strategies.
None of the Foundation or its council members, officers, agents or make any representations or warranties, recommendations, endorsements or promises with respect to the accuracy of any statements made, information provided, or action taken by Sol Strategies and expressly disclaim any and all liability arising from or related to any such statements, information or action.
Officer/Director Contact:
Doug Harris
Chief Financial Officer
doug@solstrategies.io
Tel: 416-480-2488
SOURCE: Sol Strategies
Media contact: sol@kcsa.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236566
FAQ
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