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SOL Global Investments Corp. is a diversified international investment and private equity holding company with key business segments in electric mobility, digital asset technology, esports & gaming, new age wellness, and residential commercial real estate. The Company has investments in innovative companies like Damon Motors Inc., Tevva Motors Ltd., Kiwi Campus Inc., Navier, Core Scientific, Andretti Acquisition Corp., and Build a Rocket Boy. SOL Global is focused on supporting the growth and success of its portfolio companies across various industries.
SOL Global Investments Corp. (CSE: SOL, OTCPK: SOLCF) reported its Q3 2022 financials, showing a net loss of
SOL Global Investments Corp. has successfully reduced the principal amount of its $50 million credit facility to $5.518 million after repaying an additional $1.1 million. The company is committed to maintaining regular repayments towards this credit facility. This strategic move could strengthen their financial position moving forward.
However, the press release includes cautionary statements regarding forward-looking information, highlighting the inherent risks and uncertainties associated with future repayment capabilities.
SOL Global Investments Corp. reported unaudited financials for the six-month period ended May 31, 2022, showing a net loss of $161.1 million compared to a net income of $272.8 million for the same period in 2021. The total loss from investments reached $179.5 million, a significant decline from a gain of $327.5 million in the prior year. The Net Asset Value (NAV) per share decreased to $3.43 from $7.43 in 2021. Despite challenges in the market, the company's core investments in Damon Motors and Kiwi Campus remain strong. The company aims to continue debt repayment and diversify its portfolio.
SOL Global Investments Corp. has significantly reduced its Credit Facility from
SOL Global Investments Corp. has significantly reduced its Old Credit Facility from $50 million to $10.885 million through a new loan agreement with a private lender for CAD$10 million at a 9% interest rate. The company repaid an additional $550,000 towards the Old Credit Facility. SOL Global plans to continue regular principal payments on this facility, ensuring better debt management. The New Loan is backed by a subsidiary and secured by an indirect interest in real estate in Miami, Florida.
SOL Global Investments Corp. has successfully reduced its credit facility from
SOL Global Investments Corp. announced a reduction of its credit facility principal from
SOL Global Investments Corp. reported significant financial challenges in its unaudited results for Q1 ended
SOL Global Investments Corp. has appointed Kevin Taylor as the new CEO and Chairman, succeeding Andy DeFrancesco, who will remain involved in transitioning responsibilities. Taylor brings over 30 years of experience, most recently as CEO of TEReI International Limited. The company is actively seeking strategic alternatives to enhance growth and narrow the gap between its stock price and net asset value (NAV). An agreement has been made with DeFrancesco to adjust his compensation structure, tying payments to company performance.
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