SOL Global Announces Launch of SOL Global Ventures for Solana Ecosystem Investments and Makes First Investment

Rhea-AI Summary

SOL Global Investments Corp. (CSE: SOL) has launched SOL Global Ventures, a new venture capital arm focused on early-stage Solana blockchain investments. The subsidiary's first investment involves a US$1-1.5 million commitment to Stay Inc. (STAY), a short-term rental technology platform co-founded by Scott McGillivray.

The investment will be satisfied through SOL Global shares issued at C$0.50 per share, with a four-month hold period. The deal is expected to close around January 31, 2025. STAY aims to leverage Solana's blockchain to transform the short-term rental industry through streamlined payments, improved trust mechanisms, and community engagement initiatives.

The platform plans to integrate Solana's infrastructure to reduce transaction costs, enhance security through smart contracts, and implement AI-powered property management tools. STAY has already established partnerships with major players in the short-term rental industry throughout 2024, gaining access to vetted inventory in key global destinations.

Positive

• Strategic entry into the growing Solana blockchain ecosystem through new venture capital arm
• First investment secured in STAY, a fast-growing short-term rental platform with established industry partnerships
• Potential for revenue generation through reduced transaction costs using Solana's infrastructure

Negative

• Share dilution due to payment through issuance of new SOL shares
• Investment subject to regulatory approval and four-month hold period

SOL Global Ventures' First Investment is in Stay Inc., which is Co-Founded by Television Real Estate Personality Scott McGillivray and Brings the Solana Blockchain to Rental Properties

Toronto, Ontario--(Newsfile Corp. - January 22, 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 the launch of the Company's new venture capital arm, SOL Global Ventures Inc. ("SOL Global Ventures"), a wholly-owned subsidiary focused on investing in early-stage companies being built on the Solana blockchain platform.

SOL Global Ventures has, as its first investment, entered into a binding Letter of Intent on January 21, 2025 ("LOI") for a US$1 million to US$1.5 million investment (the "Investment") in Stay Inc. ("STAY"), a fast-growing short term rental technology platform co-founded by Scott McGillivray, a Canadian entrepreneur, investor, television host, author and educator. In 2024, STAY experienced exponential property expansion by partnering with some of the largest partners in the short-term rental industry. STAY now has access to highly vetted, professional inventory in key destinations globally. The Investment is expected to be the first step in a multi-stage strategic engagement between SOL Global and STAY, with the intent to drive widespread adoption of Solana blockchain technology within the global short term rental market, leveraging the rapid growth of STAY.

The US$1 million to US$1.5 million investment will be satisfied by the Company through the issuance of shares of SOL Global ("SOL Shares") at a price of C$0.50 per SOL Share. The SOL Shares issued as part of the investment will be subject to a hold period of four months plus a day from their date of issue. It is expected that the Investment will close on or about January 31, 2025. The closing of the Investment is subject to the policies of the Canadian Securities Exchange.

Transforming the Short-Term Rental Experience

The global short term rental industry is undergoing a rapid transformation fueled by soaring digital and mobile adoption for bookings, payments, and property management. Concurrently, the worldwide surge in crypto and blockchain usage offers unprecedented opportunities for enhanced security, transparency, and efficiency. By harnessing the high-speed, low-fee infrastructure of Solana, STAY is perfectly positioned as an early mover to capture these converging trends, dramatically cutting transaction costs while delivering an elevated user experience. This pioneering approach opens the door for STAY to redefine the short-term rental market and set new standards for innovation, trust, and convenience.

"We are thrilled to make this investment in STAY and bring the power of Solana's blockchain solutions to the short-term rental and hospitality sectors," said Paul Kania, interim CEO and CFO of SOL Global. "This investment underlines our belief in both the Solana ecosystem and STAY's unique vision for innovative hospitality solutions with potential for scalability that align with consumer trends and SOL Global's forward-thinking investment strategy."

STAY has developed a comprehensive short term rental platform that provides property owners, operators, and travelers with enhanced services ranging from booking to payments through a host-centric platform designed for professional hosts, property managers, and entrepreneurial minded real estate investors. By leveraging Solana's high-speed and low-cost blockchain infrastructure, STAY has the opportunity to:

Streamline Payments and Bookings: By integrating the Solana blockchain, STAY can provide near-instant bookings and significantly lower transaction costs compared to traditional credit card processors, which typically charge around 3% plus currency exchange fees. Solana's fast, low-fee infrastructure, with transactions often costing fractions of a cent, offers a compelling advantage for cross-border payments where fees and delays can erode profit for hosts and inflate costs for guests. This streamlined approach not only delivers cost savings, but also creates a more transparent, secure, and user-friendly payment experience within the short-term rental market.

Improve Trust and Security: By leveraging Solana's immutable ledger and smart contracts, STAY can offer a higher level of transparency and security for both hosts and guests. Blockchain records are tamper-proof, significantly reducing the risk of fraudulent listings or payments, while also allowing user reviews to be validated ensuring they are 100% authentic. Additionally, automated escrow and dispute resolution via smart contracts help protect deposits and streamline conflict management, strengthening trust throughout every stage of the booking and rental process.

Incentivize Community Engagement: STAY can drive higher engagement by offering token-based rewards and loyalty programs, powered by Solana's blockchain. By allocating tokens or points for actions like listing properties, booking stays, and leaving reviews, both hosts and guests are motivated to stay active on the platform. This gamified approach fosters a strong sense of community, encourages repeat bookings, and cultivates valuable brand ambassadors who help drive platform growth organically.

AI Agents for Property Managers: STAY can create intelligent, virtual assistants to streamline daily tasks property managers face when managing their online listings. They can help provide guidance on pricing and revenue management in real time as well as assisting owners with creating, managing and editing their online listing profiles. Powered by the Solana blockchain and AI, these tools will simplify workflows, drive profitability, and enhance guest satisfaction so managers spend less time on logistics and more time creating memorable guest experiences.

"We are delighted to welcome SOL Global as a strategic partner," said Scott McGillivray, Co-Founder of STAY. "Their expertise in emerging industries and deep commitment to the Solana blockchain will enable us to accelerate our technology roadmap. Together, we aim to set a new standard for how property owners, operators, and travelers interact in the short-term rental market."

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 Investments Corp. (CSE: SOL) (OTC Pink: SOLCF) (FSE: 9SB) is pioneering institutional investment in the Solana ecosystem. As one of the first publicly traded companies globally focused on Solana investment, SOL Global aims to provide unprecedented public exposure to the Solana blockchain through token acquisition, staking for yield generation, and investments in early stage ventures being built on Solana.

For more information about SOL Global Investments Corp., please visit www.solglobal.com.

About Stay Inc.
Stay Inc. is a short-term rental technology company co-founded by reality TV host and producer Scott McGillivray, best known for his award-winning work in real estate, home improvement, and prime-time television. STAY's innovative platform offers property owners, operators, and guests a seamless experience, from listing and booking to payments through a host-centric platform designed for professional hosts, property managers, and entrepreneurial minded real estate investors. Stay Inc. announced a partnership with Booking.com in 2024 and continues to integrate with other market leaders in the industry. By incorporating blockchain-based solutions, STAY strives to build a trusted, transparent, and rewarding ecosystem for all stakeholders in the short-term rental market.

For more information about Stay Inc., please visit www.staywithstay.com.

Forward-Looking Statements
This press release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as "may", "will", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy. The forward-looking information contained in this press release includes, without limitation, the Company's strategic investment shift to focus on the Solana blockchain network, its expectations regarding the advantages and future growth of the Solana ecosystem and its ability to leverage Solana for its intended business and investment purposes. SOL Global is not an affiliate of Solana and does not produce blockchain technology.

Forward-looking information is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management's perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct.

It is possible that the Investment may not close on the terms or timing set out herein, or at all.

By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release including, and changes in national or regional economic, legal, regulatory and competitive conditions.

Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information.

The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward- looking information, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238067

FAQ

What is the value of SOL Global's investment in Stay Inc.?

SOL Global's investment in Stay Inc. ranges from US$1 million to US$1.5 million, to be paid through SOL shares at C$0.50 per share.

When will SOL Global's investment in Stay Inc. close?

The investment is expected to close on or about January 31, 2025, subject to Canadian Securities Exchange policies.

How will Stay Inc. utilize Solana blockchain technology?

Stay Inc. will use Solana blockchain for streamlined payments and bookings, improved trust and security through smart contracts, and community engagement through token-based rewards.

What is the lock-up period for SOL shares issued in the Stay Inc. investment?

The SOL shares issued as part of the investment will have a hold period of four months plus one day from their date of issue.

How will SOLCF shareholders benefit from the Stay Inc. investment?

The investment positions SOL Global in the growing Solana ecosystem and short-term rental market, with potential revenue benefits from reduced transaction costs and technological innovations.