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Sol Strategies Sells Bitcoin to Increase Solana Holdings

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Sol Strategies (CSE: HODL, OTC: CYFRF) announced strategic asset reallocation to increase its Solana holdings. The company exercised call options to acquire 8,000 SOL at USD $180 per SOL, totaling USD $1.52M. Since October 29, 2024, the company purchased 5,852.93 SOL for USD $1.39M and sold 4,080 SOL for USD $1M to fund the Cogent Crypto acquisition.

The company's total SOL holdings increased to 142,031.09 SOL (CAD $42.95M) from 130,125.22 SOL (CAD $32.20M). The company's validators now have a total delegated stake of 948,242.86 SOL. Additionally, Sol Strategies sold 19.7975 BTC for CAD $2.72M, reducing its Bitcoin holdings to 3.168 BTC (CAD $436,333).

Sol Strategies (CSE: HODL, OTC: CYFRF) ha annunciato un riallocazione strategica degli asset per aumentare le sue partecipazioni in Solana. L'azienda ha esercitato opzioni call per acquisire 8.000 SOL a USD $180 per SOL, per un totale di USD $1,52 milioni. Dal 29 ottobre 2024, l'azienda ha acquistato 5.852,93 SOL per USD $1,39 milioni e ha venduto 4.080 SOL per USD $1 milione per finanziare l'acquisizione di Cogent Crypto.

Le partecipazioni totali in SOL dell'azienda sono aumentate a 142.031,09 SOL (CAD $42,95 milioni) rispetto ai 130.125,22 SOL (CAD $32,20 milioni). I validatori dell'azienda hanno ora un totale di stake delegato di 948.242,86 SOL. Inoltre, Sol Strategies ha venduto 19,7975 BTC per CAD $2,72 milioni, riducendo le sue partecipazioni in Bitcoin a 3,168 BTC (CAD $436.333).

Sol Strategies (CSE: HODL, OTC: CYFRF) anunció una reubicación estratégica de activos para aumentar sus tenencias de Solana. La compañía ejerció opciones de compra para adquirir 8,000 SOL a USD $180 por SOL, totalizando USD $1.52 millones. Desde el 29 de octubre de 2024, la empresa compró 5,852.93 SOL por USD $1.39 millones y vendió 4,080 SOL por USD $1 millón para financiar la adquisición de Cogent Crypto.

Las tenencias totales de SOL de la empresa aumentaron a 142,031.09 SOL (CAD $42.95 millones) desde 130,125.22 SOL (CAD $32.20 millones). Los validadores de la empresa ahora tienen un total de participación delegada de 948,242.86 SOL. Además, Sol Strategies vendió 19.7975 BTC por CAD $2.72 millones, reduciendo sus tenencias de Bitcoin a 3.168 BTC (CAD $436,333).

솔 전략 (CSE: HODL, OTC: CYFRF)는 솔라나 보유량을 늘리기 위한 전략적 자산 재배치를 발표했습니다. 회사는 8,000 SOL을 SOL당 180달러에 인수하기 위해 콜 옵션을 행사하여 총 152만 달러를 투자했습니다. 2024년 10월 29일부터 회사는 1,390,000달러에 5,852.93 SOL을 구매하고, 1,000,000달러에 4,080 SOL을 팔아 Cogent Crypto 인수를 위한 자금을 조달했습니다.

회사의 총 SOL 보유량은 130,125.22 SOL(32.20백만 CAD)에서 142,031.09 SOL(42.95백만 CAD)으로 증가했습니다. 회사의 검증자는 이제 총 948,242.86 SOL의 위임된 스테이크를 보유하고 있습니다. 또한, 솔 전략은 2,720,000 CAD에 19.7975 BTC를 판매하여 비트코인 보유량을 3.168 BTC(436,333 CAD)로 줄였습니다.

Sol Strategies (CSE: HODL, OTC: CYFRF) a annoncé une réallocation stratégique des actifs pour augmenter ses participations en Solana. L'entreprise a exercé des options d'achat pour acquérir 8 000 SOL à 180 USD par SOL, pour un montant total de 1,52 million USD. Depuis le 29 octobre 2024, l'entreprise a acheté 5 852,93 SOL pour 1,39 million USD et a vendu 4 080 SOL pour 1 million USD afin de financer l'acquisition de Cogent Crypto.

Les participations totales en SOL de l'entreprise ont augmenté à 142 031,09 SOL (42,95 millions CAD) contre 130 125,22 SOL (32,20 millions CAD). Les validateurs de l'entreprise ont désormais un total de participation déléguée de 948 242,86 SOL. De plus, Sol Strategies a vendu 19,7975 BTC pour 2,72 millions CAD, réduisant ses participations en Bitcoin à 3,168 BTC (436 333 CAD).

Sol Strategies (CSE: HODL, OTC: CYFRF) hat eine strategische Umverteilung von Vermögenswerten angekündigt, um die Solana-Anteile zu erhöhen. Das Unternehmen hat Call-Optionen ausgeübt, um 8.000 SOL zum Preis von USD $180 pro SOL zu erwerben, was insgesamt USD $1,52 Millionen ergibt. Seit dem 29. Oktober 2024 hat das Unternehmen 5.852,93 SOL für USD $1,39 Millionen gekauft und 4.080 SOL für USD $1 Million verkauft, um die Übernahme von Cogent Crypto zu finanzieren.

Die gesamten SOL-Bestände des Unternehmens erhöhten sich auf 142.031,09 SOL (CAD $42,95 Millionen) von 130.125,22 SOL (CAD $32,20 Millionen). Die Validierer des Unternehmens verfügen nun über einen insgesamt delegierten Stake von 948.242,86 SOL. Darüber hinaus verkaufte Sol Strategies 19,7975 BTC für CAD $2,72 Millionen und verringerte seine Bitcoin-Bestände auf 3,168 BTC (CAD $436.333).

Positive
  • Increased Solana holdings by 11,905.87 SOL to 142,031.09 SOL (CAD $42.95M)
  • Total delegated stake to company validators reached 948,242.86 SOL
  • Strategic acquisition of 8,000 SOL through options at fixed price of USD $180
Negative
  • Reduced Bitcoin exposure by selling 19.7975 BTC, leaving only 3.168 BTC holdings
  • Significant concentration risk by converting BTC holdings into Solana

Exercises Option At Substantially Below Market

Toronto, Ontario--(Newsfile Corp. - December 11, 2024) - Sol Strategies Inc., (CSE: HODL) (OTC Pink: CYFRF) ("Sol Strategies" or, the "Company"), a publicly traded Canadian company actively investing in, supporting, and providing infrastructure for the Solana blockchain and ecosystem, today announced the continuation of the strategic reallocation of assets to increase its Solana holdings.

Solana Holdings

  • Option Exercise: The Company recently acquired 8,000 SOL through the exercise of call options with an exercise price of USD $180 per SOL, for a total cost of USD $1,520,000 (CAD $2,131,344).
  • Market Purchases and Sales: Since October 29, 2024, the Company purchased 5,852.93 SOL for a total cost of USD$1,386,838 (CAD $1,966,267) and sold 4,080 SOL for net proceeds of US$1,004,102 (CAD $1,402,530) which was used to pay the cash portion of the Cogent Crypto acquisition that closed on November 25, 2024.
  • Solana Investments: Sol Strategies increased its SOL holdings to 142,031.09 SOL (CAD $42,949,817) an increase of 11,905.87 SOL from 130,125.22 SOL (CAD $32,202,081) as of October 29, 2024, the Company's last press release disclosing its SOL holdings.
  • Delegated Stake: The total delegated stake to the Company's validators reached 948,242.86 SOL, including 142,031.09 SOL delegated by the Company.
  • Bitcoin Holdings: Following a strategic sale of 19.7975 BTC for CAD $2,718,126 in gross proceeds, the Company now holds 3.168BTC, valued at CAD $436,333.

○ On December 6, 2024, the Company sold 19.7975 BTC for gross proceeds of CAD $2,718,126, which was used to exercise the options to acquire SOL, as stated in this release.
○ As of October 29, 2024, the Company's last reporting period, Sol Strategies held 23.168 BTC (CAD $3,191,181).

*The above Canadian dollar (CAD) amount are based on prices and foreign exchange rates quoted by Coinbase (https://www.coinbase.com/converter/sol/cad and https://www.coinbase.com/converter/btc/cad) and using https://www.google.com/finance/quote/USD-CAD as at 6:25 pm ET on December 10, 2024.

Leah Wald, CEO of Sol Strategies commented: "This reallocation highlights our strategic focus on Solana as a cornerstone of our investment strategy. By converting Bitcoin into additional Solana holdings, we are reinforcing our commitment to the ecosystem's growth and its potential to deliver long-term value for our shareholders."

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 Nasdaq application, the Company's letter of intent to acquire three additional validators, the appointment of a new strategic advisor, and 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 Nasdaq listing and completion of the transactions contemplated by the letter of intent to acquire three additional validators, and their intended impact on the Company. There is no assurance that the Nasdaq listing or the validator acquisition will be completed 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: solstrategies@mgroupsc.com
SOURCE: Sol Strategies Inc.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233355

FAQ

How many Solana (SOL) tokens does Sol Strategies (CYFRF) currently hold?

Sol Strategies currently holds 142,031.09 SOL tokens, valued at approximately CAD $42.95 million as of December 10, 2024.

How much Bitcoin did Sol Strategies (CYFRF) sell in December 2024?

Sol Strategies sold 19.7975 BTC on December 6, 2024, for gross proceeds of CAD $2.72 million.

What is the total delegated stake to Sol Strategies' (CYFRF) validators?

The total delegated stake to Sol Strategies' validators reached 948,242.86 SOL, including 142,031.09 SOL delegated by the company itself.

How many SOL tokens did CYFRF acquire through options exercise?

Sol Strategies acquired 8,000 SOL through the exercise of call options at USD $180 per SOL, for a total cost of USD $1.52 million.

What was the purpose of CYFRF's Bitcoin sale in December 2024?

The Bitcoin sale proceeds were used to exercise options to acquire more Solana (SOL) tokens, aligning with the company's strategic focus on the Solana ecosystem.

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