Sol Strategies Announces Major Strategic Investment in Solana
Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF) has secured a CAD $25 million credit facility from its Chairman and Director, Antanas Guoga, specifically for purchasing Solana tokens. The company has already drawn $4 million from this facility, which will be used for staking operations, DeFi protocols, validator operations, and strategic liquidity provision to Solana-based projects.
The credit facility, established through an agreement dated January 6, 2025, is unsecured and revolving, with a maturity date of January 6, 2027. The drawn amount will bear a 5% annual interest rate. This transaction constitutes a related party transaction under MI 61-101, but qualifies for exemptions from valuation and minority shareholder approval requirements as it represents less than 25% of the company's market capitalization.
Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF) ha ottenuto una linea di credito di 25 milioni di dollari canadesi dal suo Presidente e Direttore, Antanas Guoga, specificamente per l'acquisto di token Solana. L'azienda ha già prelevato 4 milioni di dollari da questa linea di credito, che saranno utilizzati per operazioni di staking, protocolli DeFi, operazioni di validazione e fornitura strategica di liquidità a progetti basati su Solana.
La linea di credito, stabilita tramite un accordo datato 6 gennaio 2025, è non garantita e revolving, con una scadenza fissata per il 6 gennaio 2027. L'importo prelevato sarà soggetto a un tasso di interesse annuo del 5%. Questa operazione rappresenta una transazione tra parti correlate ai sensi della MI 61-101, ma rientra nelle esenzioni dai requisiti di valutazione e approvazione degli azionisti di minoranza in quanto rappresenta meno del 25% della capitalizzazione di mercato dell'azienda.
Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF) ha asegurado una línea de crédito de 25 millones de dólares canadienses de su Presidente y Director, Antanas Guoga, específicamente para la compra de tokens Solana. La compañía ya ha retirado 4 millones de dólares de esta línea de crédito, que se utilizarán para operaciones de staking, protocolos DeFi, operaciones de validadores y provisión de liquidez estratégica a proyectos basados en Solana.
La línea de crédito, establecida a través de un acuerdo fechado el 6 de enero de 2025, es no garantizada y revolvente, con una fecha de vencimiento del 6 de enero de 2027. El monto retirado tendrá una tasa de interés anual del 5%. Esta transacción constituye una transacción entre partes relacionadas bajo la MI 61-101, pero califica para exenciones de los requisitos de valoración y aprobación de accionistas minoritarios, ya que representa menos del 25% de la capitalización de mercado de la empresa.
Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF)는 의장 겸 이사인 안타나스 구오가(Antanas Guoga)로부터 2,500만 캐나다 달러의 신용 한도를 확보하였습니다. 이 자금은 솔라나 토큰 구매를 위해 특별히 마련되었습니다. 회사는 이미 이 자금으로부터 4백만 달러를 인출하였으며, 이는 스테이킹 운영, DeFi 프로토콜, 검증자 운영 및 솔라나 기반 프로젝트에 대한 전략적 유동성 제공에 사용될 것입니다.
이 신용 한도는 2025년 1월 6일자 계약을 통해 설정되었으며, 담보가 없는 회전식으로 2027년 1월 6일에 만료됩니다. 인출 금액에는 연 5%의 이자율이 적용됩니다. 이 거래는 MI 61-101에 따른 관련 당사자 거래에 해당하지만, 회사의 시장 자본금의 25% 미만을 차지하기 때문에 평가 및 소수 주주 승인 요건의 면제 대상이 됩니다.
Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF) a sécurisé une ligne de crédit de 25 millions de dollars canadiens de son Président et Directeur, Antanas Guoga, spécifiquement pour l'achat de tokens Solana. L'entreprise a déjà tiré 4 millions de dollars de cette ligne de crédit, qui seront utilisés pour des opérations de staking, des protocoles DeFi, des opérations de validateurs et la fourniture stratégique de liquidités aux projets basés sur Solana.
La ligne de crédit, établie par un accord daté du 6 janvier 2025, est non sécurisée et renouvelable, avec une date d'échéance fixée au 6 janvier 2027. Le montant tiré supportera un taux d'intérêt annuel de 5%. Cette transaction constitue une transaction entre parties liées en vertu de la MI 61-101, mais elle se qualifie pour des exemptions aux exigences d'évaluation et d'approbation des actionnaires minoritaires car elle représente moins de 25% de la capitalisation boursière de l'entreprise.
Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF) hat eine Kreditlinie über 25 Millionen kanadische Dollar von seinem Vorsitzenden und Direktor Antanas Guoga gesichert, die speziell für den Kauf von Solana-Token vorgesehen ist. Das Unternehmen hat bereits 4 Millionen Dollar aus dieser Linie abgerufen, die für Staking-Operationen, DeFi-Protokolle, Validierungsoperationen und strategische Liquiditätsbereitstellung für auf Solana basierende Projekte verwendet werden.
Die Kreditlinie, die durch einen Vertrag vom 6. Januar 2025 eingerichtet wurde, ist unbesichert und revolvierend, mit einem Fälligkeitsdatum am 6. Januar 2027. Der abgerufene Betrag unterliegt einem jährlichen Zinssatz von 5%. Diese Transaktion stellt eine Transaktion zwischen nahestehenden Personen gemäß MI 61-101 dar, qualifiziert sich jedoch für Ausnahmen von den Bewertungs- und Genehmigungsanforderungen der Minderheitsaktionäre, da sie weniger als 25% der Marktkapitalisierung des Unternehmens ausmacht.
- Secured large CAD $25M credit facility for Solana token acquisition
- Favorable 5% interest rate on the credit facility
- Already deployed $4M for token purchases
- Long-term facility extending to January 2027
- Related party transaction with Chairman creates potential conflicts of interest
- Unsecured credit facility poses higher risk
- Creates debt obligation with 5% annual interest burden
CAD
Toronto, Ontario--(Newsfile Corp. - January 7, 2025) - Sol Strategies Inc. (CSE: HODL) (OTC Pink: CYFRF) (formerly Cypherpunk Holdings Inc., "Sol Strategies" or the "Company"), a Canadian holding company that invests in the Solana blockchain and ecosystem, announced that it has drawn from its amended credit facility agreement (the "Agreement") dated January 6, 2025 with Antanas Guoga (the "Lender"), the Company's Chairman and Director. The Agreement, which amended and restated the previous credit facility agreement dated October 22, 2024, provides for a CAD
The Company has already drawn down
The Company plans to deploy these tokens across its core focus areas within the Solana ecosystem, including decentralized finance protocols, validator operations, and strategic liquidity provision to emerging Solana-based projects.
Under the terms of the Credit Facility, the Lender has made available to the Company up to CAD
"I'm making this capital available to Sol Strategies because of how deeply I believe in both the corporate strategies and Solana itself" said Antanas Guoga, Chairman of Sol Strategies.
Leah Wald, CEO of Sol Strategies, added, "After evaluating multiple financing options for this strategic investment, we determined that the terms offered through this facility provided the most favorable structure for our shareholders. Our staking strategy is tremendously successful, and we are confident that our expanded position in Solana will generate substantial returns for our shareholders while supporting the continued growth of the Solana ecosystem."
The Credit Facility constituted a "related party transaction" as defined in Multilateral Instrument 61-101 -- Protection of Minority Securityholders in Special Transactions ("MI 61-101"), as the Lender is a Director, officer and control person of the Company. The terms of the Credit Facility, including the
About Sol Strategies
Sol Strategies is a publicly traded holding company committed to the continued development of the Solana blockchain and ecosystem through its private equity and financial markets activities. Sol Strategies seeks to leverage investment opportunities in staking rewards and Solana-based projects, allowing shareholders to indirectly participate in decentralized finance. The Company 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 may be obtained under the Company's SEDAR+ profile at www.sedarplus.ca.
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. Generally, any statements that are not historical facts may contain forward-looking information and forward-looking information can 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 company's future staking holdings and intended use of proceeds from the Credit Facility and growth plans. There is no assurance 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
Media Contact:
Kristin Cwalinski
KCSA Strategic Communications
kcwalinski@kcsa.com
Tel: +1 (603) 475-3550
**SOURCE:** Sol Strategies
**Media contact:** solstrategies@kcsa.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236287
FAQ
What is the size and purpose of Sol Strategies' (CYFRF) new credit facility?
What are the terms of CYFRF's January 2025 credit facility agreement?
How will CYFRF deploy the funds from the $25M credit facility?
Who provided the credit facility to Sol Strategies (CYFRF)?
What exemptions did CYFRF use for the related party transaction?
