SOL Global Announces Binding Commitment for C$10 Million Debenture Private Placement from Strategic Investor
SOL Global Investments Corp. (CSE: SOL) has secured a binding commitment for a C$10 million convertible debenture private placement. The debenture will be convertible into units at $0.50 per unit, with each unit comprising one common share and a half-warrant. A full warrant allows purchase of an additional common share at $0.65 within 12 months.
The funding will be distributed in five tranches: an initial $2 million advance at closing, followed by four $2 million advances every 60 days. The debenture includes a 2.5% setup fee ($250,000) and carries a 10% interest rate. 70% of the proceeds will be allocated to purchasing Solana tokens, aligning with the company's focus on digital assets and blockchain technology.
The transaction is expected to close by January 30, 2025, subject to regulatory approvals and CSE policies. The securities will have a four-month plus one day hold period under Canadian securities laws.
SOL Global Investments Corp. (CSE: SOL) ha ottenuto un impegno vincolante per un collocamento privato di prestiti convertibili da C$10 milioni. Il prestito sarà convertibile in unità a $0,50 per unità, con ogni unità composta da una azione comune e mezza opzione. Un'opzione intera consente l'acquisto di un'ulteriore azione comune a $0,65 entro 12 mesi.
Il finanziamento sarà distribuito in cinque tranche: un anticipo iniziale di $2 milioni alla chiusura, seguito da quattro anticipi da $2 milioni ogni 60 giorni. Il prestito include una commissione di attivazione del 2,5% ($250,000) e comporta un tasso d'interesse del 10%. Il 70% dei proventi sarà destinato all'acquisto di token Solana, in linea con il focus dell'azienda sugli asset digitali e sulla tecnologia blockchain.
La transazione è prevista per la chiusura entro il 30 gennaio 2025, soggetta ad approvazioni normative e alle politiche della CSE. I titoli avranno un periodo di blocco di quattro mesi più un giorno secondo le leggi sui titoli canadesi.
SOL Global Investments Corp. (CSE: SOL) ha asegurado un compromiso vinculante para una colocación privada de bonos convertibles por C$10 millones. El bono será convertible en unidades a $0.50 por unidad, con cada unidad comprendiendo una acción común y media opción. Una opción completa permite la compra de una acción común adicional a $0.65 dentro de 12 meses.
El financiamiento se distribuirá en cinco tramos: un anticipo inicial de $2 millones al cierre, seguido de cuatro anticipos de $2 millones cada 60 días. El bono incluye una tarifa de instalación del 2.5% ($250,000) y tiene una tasa de interés del 10%. El 70% de los ingresos se destinará a la compra de tokens Solana, alineándose con el enfoque de la empresa en activos digitales y tecnología blockchain.
Se espera que la transacción se cierre antes del 30 de enero de 2025, sujeta a aprobaciones regulatorias y políticas de la CSE. Los valores tendrán un período de retención de cuatro meses más un día bajo las leyes de valores canadienses.
SOL Global Investments Corp. (CSE: SOL)는 C$10 백만의 전환사채 사모 배정을 위한 구속력 있는 약속을 확보했습니다. 이 전환사채는 $0.50에 단위로 전환될 수 있으며, 각 단위는 일반 주식 1주와 반의 워런트로 구성됩니다. 전체 워런트는 12개월 이내에 $0.65에 추가 일반 주식을 구매할 수 있게 해줍니다.
자금은 5개의 분할금으로 분배됩니다: 초기 $2 백만의 선금이 이루어지고, 이후 매 60일마다 $2 백만의 제안이 이어집니다. 전환사채는 2.5%의 설정 수수료($250,000)를 포함하며, 10%의 이자율을 갖습니다. 수익의 70%는 솔라나 토큰 구매에 할당됩니다, 이는 회사의 디지털 자산 및 블록체인 기술에 대한 초점과 일치합니다.
이번 거래는 2025년 1월 30일 전에 마감될 것으로 예상되며, 규제 승인 및 CSE 정책에 따라 다릅니다. 이 증권은 캐나다 증권법에 따라 4개월 1일의 보유 기간이 있습니다.
SOL Global Investments Corp. (CSE: SOL) a sécurisé un engagement contraignant pour un placement privé d'obligations convertibles d'un montant de 10 millions de dollars canadiens. L'obligation sera convertible en unités à 0,50 $ par unité, chaque unité comprenant une action ordinaire et une demi-option. Une option complète permet d'acheter une action ordinaire supplémentaire à 0,65 $ dans les 12 mois.
Le financement sera distribué en cinq tranches : une avance initiale de 2 millions de dollars lors de la clôture, suivie de quatre avances de 2 millions de dollars toutes les 60 jours. L'obligation comprend des frais de mise en place de 2,5 % (250 000 $) et porte un taux d'intérêt de 10 %. 70 % des produits seront affectés à l'achat de jetons Solana, en accord avec l'orientation de l'entreprise sur les actifs numériques et la technologie blockchain.
La transaction devrait se clôturer d'ici le 30 janvier 2025, sous réserve des approbations réglementaires et des politiques de la CSE. Les titres auront une période de blocage de quatre mois plus un jour conformément aux lois canadiennes sur les valeurs mobilières.
SOL Global Investments Corp. (CSE: SOL) hat sich eine verbindliche Zusage für eine Privatplatzierung von wandelbaren Schuldverschreibungen über 10 Millionen C$ gesichert. Die Schuldverschreibung kann zu einem Preis von $0,50 pro Einheit in Einheiten umgewandelt werden, wobei jede Einheit aus einer Stammaktie und einer halben Optionsschein besteht. Ein vollständiger Optionsschein erlaubt den Kauf einer weiteren Stammaktie zu $0,65 innerhalb von 12 Monaten.
Die Finanzierung wird in fünf Tranchen verteilt: eine anfängliche Vorauszahlung von 2 Millionen $ bei Abschluss, gefolgt von vier weiteren Zahlungen von 2 Millionen $ alle 60 Tage. Die Schuldverschreibung enthält eine Einrichtungsgebühr von 2,5 % (250.000 $) und trägt einen Zinssatz von 10 %. 70 % der Einnahmen werden für den Kauf von Solana-Token verwendet, was mit dem Fokus des Unternehmens auf digitale Vermögenswerte und Blockchain-Technologie übereinstimmt.
Die Transaktion wird voraussichtlich bis zum 30. Januar 2025 abgeschlossen, vorbehaltlich der behördlichen Genehmigungen und der Richtlinien der CSE. Die Wertpapiere unterliegen einem Haltezeitraum von vier Monaten plus einem Tag nach kanadischem Wertpapierrecht.
- Secured C$10 million in financing through convertible debenture
- Structured funding approach with five tranches provides steady capital flow
- 70% of proceeds dedicated to Solana token acquisition strengthens digital asset portfolio
- 10% interest rate on debenture increases debt service costs
- 2.5% setup fee ($250,000) reduces effective capital received
- Potential dilution for existing shareholders upon conversion at $0.50 per unit
Toronto, Ontario--(Newsfile Corp. - January 23, 2025) - SOL Global Investments Corp. (CSE: SOL) (FSE: 9SB) ("SOL Global" or the "Company"), one of the first publicly traded companies focused on institutional Solana investments, is pleased to announce that it has entered into a binding letter of intent on January 22, 2025 (the "LOI") for the sale of an unsecured convertible debenture of SOL Global (the "Convertible Debentures") with a principal amount of C
The Convertible Debenture will be convertible into units of the Company at a conversion price of
The Debenture shall be funded in advances such that
The holder of the Debenture shall be entitled to a
The LOI is a binding commitment of the purchaser and the transaction is expected to close on or before January 30, 2025 (the "Closing Date"), subject to the entering into a definitive subscription agreement and Debenture, and certain customary conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, and is subject to the policies of the Canadian Securities Exchange (the "CSE").
Use of Proceeds
The Company intends to allocate
Strategic Focus
This financing is aligned with SOL Global's strategy to expand its digital asset portfolio and capitalize on emerging opportunities in the blockchain and cryptocurrency sectors. By allocating a significant portion of the proceeds to Solana tokens, the Company is reaffirming its belief in the potential of decentralized ecosystems.
The Units will be offered on a private placement basis in such jurisdictions as the Agents and the Company may mutually agree, including (i) in all provinces of Canada pursuant to available exemptions from the prospectus requirements of those provinces, (ii) in the United States pursuant to available exemptions from U.S. registration requirements, and (iii) international or offshore jurisdictions pursuant to available exemptions from the prospectus, registration or other similar requirements in such international or offshore jurisdictions, such that no prospectus, registration statement or similar document is required to be prepared or filed by the Company in any such jurisdiction, in each case in accordance with applicable laws.
All Common Shares and Warrants issued pursuant to the Offering are subject to a hold period of four months plus one day from the date of issuance of such securities under applicable securities laws in Canada.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.
For Further Information Please Contact:
SOL Global Investments Corp.
Paul Kania, Interim CEO, CFO
Tel: (212) 729-9208
Email: info@solglobal.com
Website: https://solglobal.com/
About SOL Global Investments Corp.
SOL Global is a diversified international investment and private equity holding company. The Company is in the process of divesting its current investment partnerships and minority holdings. SOL Global recently announced the transition of investments to focus exclusively on digital asset technology, primarily on Solana and Solana based technologies.
Caution Regarding Forward-Looking Statements
This press release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements herein, other than statements of historical fact, constitute forward-looking information. Forward-looking information is frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements regarding anticipated completion of the Private Placement; the proposed use of proceeds of the Private Placement; and statements relating to the Company's intention to increase its investments in Solana. Forward-looking information reflects the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, technical, economic, and competitive uncertainties and contingencies, including the speculative nature of cryptocurrencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, without limitation, the Company's ability to complete the Private Placement, on the proposed terms and the proposed timeline, or at all; the Company's ability execute on its business and investment plans, including the Company's ability to raise debt or equity through future financing activities and divest its current investment partnerships and minority holdings; the growth of the Solana ecosystem; growth and development of decentralized finance and digital asset sector; rules and regulations with respect to decentralized finance and digital assets; and general business, economic, competitive, political and social uncertainties. 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 the forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238191
FAQ
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