Early Warning Press Release in Respect of Atmofizer Technologies Inc.

Rhea-AI Summary

SOL Global Investments Corp. announced on February 3, 2022 the disposal of 1,300,000 Common Shares of Atmofizer Technologies Inc., reducing its holding to less than 10% of the issued shares. Prior to this disposition, SOL owned 7,139,200 Common Shares, constituting 10.30% of Atmofizer. Following the transaction, SOL holds 5,839,200 Common Shares and 1,299,999 Warrants, approximately 8.71% of the issued shares on a partially diluted basis. SOL Global is no longer obligated to file early warning reports unless its ownership surpasses 10% again.

Positive

• Reduction in holdings simplifies compliance with reporting requirements.
• Still retains significant ownership (approximately 8.71%) in Atmofizer.

Negative

• Sale of 1,300,000 shares indicates a potential decrease in confidence in Atmofizer.

TORONTO--(BUSINESS WIRE)-- SOL Global Investments Corp. (the “Company” or “SOL Global”) (CSE: SOL) (OTCQ SOLCF) (Frankfurt: 9SB) announces that on February 3, 2022, the Company disposed of an aggregate of 1,300,000 common shares (each a “Common Share”) of Atmofizer Technologies Inc. (“Atmofizer”) (the “Disposition”). As a result of the Disposition, SOL Global now holds less than 10% of the issued and outstanding Common Shares on a partially diluted basis.

Immediately prior to the Disposition, SOL Global held 7,139,200 Common Shares and 1,299,999 Common Share purchase warrants (“Warrants”), representing 10.30% of the issued and outstanding Common Shares on a partially diluted basis. Immediately following the Disposition, SOL Global held a remaining 5,839,200 Common Shares and 1,299,999 Warrants, representing approximately 8.71% of the issued and outstanding Common Shares on a partially diluted basis.

SOL Global may, depending on market and other conditions, increase or decrease its beneficial ownership in Atmofizer’s securities, whether in transactions on the open market, by privately negotiated arrangements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.

As of the date hereof, SOL Global no longer beneficially owns nor controls 10% or more of the issued and outstanding Common Shares. Accordingly, SOL Global is no longer required to file early warning reports pursuant to the requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues unless SOL Global’s beneficial ownership or control of the Common Shares again increases above 10% of the issued and outstanding Common Shares of the Company.

This news release, and the early warning report filed in connection with the Disposition, was filed late due to administrative error.

An early warning report prepared pursuant to the requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues by SOL Global has been filed on SEDAR at www.sedar.com under the Atmofizer’s profile. To obtain more information or to obtain a copy of the early warning report to be filed in respect of this news release, please contact SOL Global at the contact details noted below.

About SOL Global Investments Corp.

SOL Global is a diversified investment and private equity holding company engaged in the small and mid-cap sectors. SOL Global’s investment partnerships range from minority positions to large strategic holdings with active advisory mandates. The Company’s seven primary business segments include Retail, Agriculture, QSR & Hospitality, Media Technology & Gaming, and New Age Wellness.

The Company’s head office is located at 100 King Street West, Suite 5600, Toronto, Ontario, M5X 1C9.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220211005626/en/

SOL Global Investments Corp.

Paul Kania, Chief Financial Officer

Phone: (212) 729-9208

Email: info@solglobal.com

Source: SOL Global Investments Corp.

FAQ

What is the date of SOL Global's share disposition of Atmofizer?

SOL Global disposed of shares on February 3, 2022.

How many shares does SOL Global hold in Atmofizer now?

After the disposition, SOL Global holds 5,839,200 Common Shares.

What percentage of Atmofizer shares does SOL Global own after the sale?

SOL Global now owns approximately 8.71% of Atmofizer's issued shares.

Why is SOL Global no longer required to file early warning reports?

SOL Global's ownership is now below 10% of Atmofizer's issued shares.

What is the stock symbol for SOL Global?

The stock symbol for SOL Global is SOLCF.