Sol Strategies Announces Second Tranche Private Placement of CAD $2.5 Million
Sol Strategies (CSE: HODL, OTC: CYFRF) has secured a second tranche private placement of CAD $2.5 million, bringing total gross proceeds from private placements to CAD $30 million. The financing will support the company's SOL treasury holdings expansion and revenue-generating validator operations.
The private placement consists of unsecured convertible debenture units, each comprising a CAD $1,000 principal debenture and 400 warrants. Key terms include:
- 2.5% annual interest rate, payable semi-annually in cash or shares
- Convertible to shares at CAD $2.50 per share
- Warrants exercisable at CAD $2.50 per share within 5 years
- Debentures redeemable after 3 years at 112% of principal value
The placement is expected to close around January 24, 2025, with no finder's fees. Issued shares will have a four-month trading restriction period.
Sol Strategies (CSE: HODL, OTC: CYFRF) ha assicurato una seconda tranche di collocamento privato di 2,5 milioni di CAD, portando il totale dei proventi lordi derivanti da collocamenti privati a 30 milioni di CAD. Il finanziamento supporterà l'espansione delle riserve SOL dell'azienda e le operazioni di validazione generatrici di reddito.
Il collocamento privato consiste in unità di obbligazioni convertibili non garantite, ciascuna composta da un'obbligazione principale di 1.000 CAD e 400 warrant. I termini chiave includono:
- Tasso d'interesse annuale del 2,5%, pagabile semestralmente in contante o azioni
- Convertibile in azioni a 2,50 CAD per azione
- Warrant esercitabili a 2,50 CAD per azione entro 5 anni
- Obbligazioni rimborsabili dopo 3 anni al 112% del valore nominale
Si prevede che il collocamento si chiuda intorno al 24 gennaio 2025, senza commissioni per i procacciatori. Le azioni emesse avranno un periodo di restrizione alla negoziazione di quattro mesi.
Sol Strategies (CSE: HODL, OTC: CYFRF) ha asegurado un segundo tramo de colocación privada por 2,5 millones de CAD, elevando los ingresos totales brutos de colocaciones privadas a 30 millones de CAD. La financiación apoyará la expansión de las reservas de SOL de la empresa y las operaciones de validación generadoras de ingresos.
La colocación privada consiste en unidades de obligaciones convertibles no garantizadas, cada una compuesta por una obligación principal de 1,000 CAD y 400 warrants. Los términos clave incluyen:
- Tasa de interés anual del 2,5%, pagadera semestralmente en efectivo o acciones
- Convertible a acciones a 2,50 CAD por acción
- Warrants ejercitables a 2,50 CAD por acción dentro de 5 años
- Obligaciones rescatables después de 3 años al 112% del valor nominal
Se espera que la colocación cierre alrededor del 24 de enero de 2025, sin comisiones por intermediarios. Las acciones emitidas tendrán un período de restricción de negociación de cuatro meses.
솔 전략 (CSE: HODL, OTC: CYFRF)은 250만 캐나다 달러의 두 번째 사모 배정을 확보하여 사모 배정에서의 총 총수가 3000만 캐나다 달러에 이르게 되었습니다. 이 자금은 회사의 SOL 자산 확장과 수익 창출 validator 작업을 지원할 것입니다.
이번 사모 배정은 1,000 캐나다 달러의 원금과 400 개의 워런트로 구성된 무담보 전환채권 유닛으로 이루어져 있습니다. 주요 조건은 다음과 같습니다:
- 연 2.5% 이자율, 반기마다 현금 또는 주식으로 지급
- 주당 2.50 캐나다 달러에 주식으로 전환 가능
- 5년 이내에 주당 2.50 캐나다 달러로 행사 가능한 워런트
- 3년 후에 원금의 112%로 상환 가능한 채권
이번 배정은 2025년 1월 24일경에 종료될 것으로 예상되며, 발기 수수료는 없습니다. 발행된 주식은 4개월의 거래 제한이 있습니다.
Sol Strategies (CSE: HODL, OTC: CYFRF) a sécurisé une deuxième tranche de placement privé de 2,5 millions de CAD, portant le produit brut total des placements privés à 30 millions de CAD. Ce financement soutiendra l'expansion des réserves SOL de l'entreprise ainsi que les opérations de validation génératrices de revenus.
Le placement privé se compose d'unités de débentures convertibles non sécurisées, chacune comprenant une débenture principale de 1.000 CAD et 400 bons de souscription. Les conditions clés incluent :
- Taux d'intérêt annuel de 2,5 %, payable semestriellement en espèces ou en actions
- Convertible en actions à 2,50 CAD par action
- Bons de souscription exerçables à 2,50 CAD par action dans un délai de 5 ans
- Débentures remboursables après 3 ans à 112 % de la valeur nominale
La clôture du placement est prévue aux alentours du 24 janvier 2025, sans frais d'intermédiation. Les actions émises auront une période de restriction de négociation de quatre mois.
Sol Strategies (CSE: HODL, OTC: CYFRF) hat eine zweite Tranche einer Privatplatzierung über 2,5 Millionen CAD gesichert, wodurch die Gesamterlöse aus Privatplatzierungen auf 30 Millionen CAD steigen. Die Finanzierung wird das Wachstum der SOL-Treasury-Bestände des Unternehmens sowie die Einnahmen aus Validator-Betrieben unterstützen.
Die Privatplatzierung besteht aus unbesicherten Wandelanleihen, die aus einer Hauptanleihe von 1.000 CAD und 400 Warrants bestehen. Die wichtigsten Bedingungen sind:
- 2,5% jährlicher Zinssatz, der halbjährlich in bar oder in Aktien gezahlt wird
- Umwandlung in Aktien zu 2,50 CAD pro Aktie
- Warrants, die innerhalb von 5 Jahren zu 2,50 CAD pro Aktie ausgeübt werden können
- Anleihen, die nach 3 Jahren zu 112% des Nennwerts einlösbar sind
Die Platzierung soll voraussichtlich um den 24. Januar 2025 abgeschlossen werden, ohne Vermittlungsgebühren. Die emittierten Aktien unterliegen einer Handelsbeschränkung von vier Monaten.
- Secured additional CAD $2.5 million in financing
- Total private placement proceeds reached CAD $30 million
- Funds allocated for expansion of revenue-generating validator operations
- No finder's fees required for the private placement
- Potential dilution for existing shareholders through convertible debentures and warrants
- 2.5% interest rate obligation on debentures
- Four-month trading restriction on converted shares
Proceeds to be used to Increase SOL Holdings and Expand Validator Operations
Toronto, Ontario--(Newsfile Corp. - January 17, 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 that it has entered into a subscription agreement for a second tranche private placement of CAD
The Private Placement will consist of unsecured convertible debenture units ("CD Units") for gross proceeds of CAD
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.
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/237537
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