Sol Strategies Provides Update on SOL Purchases

Rhea-AI Summary

Sol Strategies Inc (CSE: HODL) (OTCQX: CYFRF) has expanded its Solana blockchain ecosystem investment through strategic SOL purchases. During the week ending March 7, 2025, the company exercised call options to acquire 24,000 SOL at an exercise price of USD $130 per SOL.

The total investment amounted to CAD $4,783,785 (USD $3,343,200), with an average purchase price of CAD $199 (USD $139) per SOL, including option premium costs. This acquisition aligns with the company's strategy to support its validator operations and strengthen its long-term position in the Solana ecosystem.

Positive

• Strategic acquisition of 24,000 SOL tokens
• Expansion of validator operations capabilities
• Strengthening position in Solana ecosystem

Negative

• Premium paid over exercise price (USD $139 vs $130)

Toronto, Ontario--(Newsfile Corp. - March 7, 2025) - Sol Strategies Inc. (CSE: HODL) (OTCQX: CYFRF) (formerly Cypherpunk Holdings Inc, "Sol Strategies" or the "Company"), publicly traded Canadian company dedicated to investing in and providing infrastructure for the Solana blockchain ecosystem, has made additional strategic purchases of SOL as part of its ongoing growth initiatives.

Recent SOL Purchases Update

During the week ending March 7, 2025, Sol Strategies exercised call options with an exercise price of USD $130 per SOL to acquire 24,000 SOL for a total cost of CAD $4,783,785 (USD $3,343,200), reflecting an average purchase price of CAD $199 (USD $139) per SOL, including option premium costs. This continued accumulation aligns with the Company's strategy of expanding its SOL holdings to support its validator operations and long-term investment approach in the Solana ecosystem.

About Sol Strategies

Sol Strategies Inc. (CSE: HODL) (OTCQX: CYFRF) is a Canadian investment company that operates at the forefront of blockchain innovation. Specializing in the Solana ecosystem, the company provides strategic investments and infrastructure solutions to enable the next generation of decentralized applications.

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 Company's Solana holdings and the Company's financial outlook. 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.

The purpose of forward-looking information is to provide the reader with a description of management's expectations, and such forward-looking information may not be appropriate for any other purpose. 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.

Investor Contact:

ICR
John Ragozzino, CFA
solstrategies@icrinc.com
Tel: 203-682-8284

Company Contact:

Doug Harris
Chief Financial Officer
doug@solstrategies.io
Tel: 416-480-2488

SOURCE: Sol Strategies Inc.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/243676

FAQ

How many SOL tokens did Sol Strategies (CYFRF) purchase in March 2025?

Sol Strategies purchased 24,000 SOL tokens through call options in March 2025.

What was the total cost of Sol Strategies' (CYFRF) recent SOL acquisition?

The total cost was CAD $4,783,785 (USD $3,343,200), including option premiums.

What was the average purchase price per SOL for CYFRF's March 2025 acquisition?

The average purchase price was CAD $199 (USD $139) per SOL, including option premium costs.

What is the purpose of Sol Strategies' (CYFRF) SOL token purchases?

The purchases support validator operations and long-term investment in the Solana ecosystem.