SOL Global Announces Strategic Change with Investment Focus in Solana
SOL Global Investments Corp. (CSE: SOL) (OTC: SOLCF) has announced a strategic shift to focus primarily on the Solana blockchain network through its renamed subsidiary 'SOL Focused Investments '. Following successful exits from Core Scientific Inc. and other investments, the company will concentrate on Solana Blockchain and derived technologies. The company's portfolio includes successful investments in digital assets, including Tokenise International (acquired by VERO Labs), Bitbuy (acquired by WonderFi), and Build A Rocket Boy , a game studio developing the metaverse game Everywhere.
SOL Global Investments Corp. (CSE: SOL) (OTC: SOLCF) ha annunciato un cambiamento strategico per concentrarsi principalmente sulla rete blockchain di Solana attraverso la sua sussidiaria rinominata 'SOL Focused Investments'. A seguito di uscita di successo da Core Scientific Inc. e da altri investimenti, l'azienda si concentrerà sulla blockchain di Solana e sulle tecnologie derivate. Il portafoglio dell'azienda include investimenti di successo in asset digitali, inclusi Tokenise International (acquisito da VERO Labs), Bitbuy (acquisito da WonderFi) e Build A Rocket Boy, uno studio di giochi che sta sviluppando il gioco metaverso Everywhere.
SOL Global Investments Corp. (CSE: SOL) (OTC: SOLCF) ha anunciado un cambio estratégico para enfocarse principalmente en la red blockchain de Solana a través de su subsidiaria renombrada 'SOL Focused Investments'. Tras salidas exitosas de Core Scientific Inc. y otras inversiones, la empresa se concentrará en la blockchain de Solana y las tecnologías derivadas. El portafolio de la empresa incluye inversiones exitosas en activos digitales, como Tokenise International (adquirido por VERO Labs), Bitbuy (adquirido por WonderFi) y Build A Rocket Boy, un estudio de videojuegos que está desarrollando el juego metaverso Everywhere.
SOL Global Investments Corp. (CSE: SOL) (OTC: SOLCF)가 솔라나 블록체인 네트워크에 주로 집중하기 위한 전략적 전환을 발표했습니다. 회사는 이름이 변경된 자회사 'SOL Focused Investments'를 통해 이를 추진할 것입니다. Core Scientific Inc. 및 기타 투자에서 성공적인 출구를 거친 후, 이 회사는 솔라나 블록체인 및 파생 기술에 집중할 예정입니다. 회사의 포트폴리오에는 Tokenise International(VERO Labs에 인수됨), Bitbuy(WonderFi에 인수됨) 및 메타버스 게임 Everywhere를 개발하는 게임 스튜디오 Build A Rocket Boy와 같은 디지털 자산에 대한 성공적인 투자가 포함되어 있습니다.
SOL Global Investments Corp. (CSE: SOL) (OTC: SOLCF) a annoncé un changement stratégique pour se concentrer principalement sur le réseau blockchain Solana à travers sa filiale renommée 'SOL Focused Investments'. À la suite de sorties réussies de Core Scientific Inc. et d'autres investissements, l'entreprise se concentrera sur la blockchain Solana et les technologies dérivées. Le portefeuille de l'entreprise comprend des investissements réussis dans des actifs numériques, y compris Tokenise International (acquis par VERO Labs), Bitbuy (acquis par WonderFi) et Build A Rocket Boy, un studio de jeux développant le jeu métavers Everywhere.
SOL Global Investments Corp. (CSE: SOL) (OTC: SOLCF) hat eine strategische Neuausrichtung angekündigt, um sich hauptsächlich auf das Solana-Blockchain-Netzwerk zu konzentrieren, durch ihre umbenannte Tochtergesellschaft 'SOL Focused Investments'. Nach erfolgreichen Ausstiegen aus Core Scientific Inc. und anderen Investitionen wird sich das Unternehmen auf die Solana-Blockchain und abgeleitete Technologien konzentrieren. Das Portfolio des Unternehmens umfasst erfolgreiche Investitionen in digitale Vermögenswerte, darunter Tokenise International (erworben von VERO Labs), Bitbuy (erworben von WonderFi) und Build A Rocket Boy, ein Spielestudio, das das Metaversum-Spiel Everywhere entwickelt.
- Strategic repositioning to focus on high-growth Solana blockchain technology
- Successful exit from Core Scientific investment
- Track record of profitable exits (Tokenise International, Bitbuy)
- Winding down of existing investments may result in potential losses
- Increased concentration risk by focusing primarily on Solana ecosystem
The Company Rebrands Investment Subsidiary 'SOL Focused Investments LLC'
Toronto, Ontario--(Newsfile Corp. - November 4, 2024) - SOL Global Investments Corp. (CSE: SOL) (OTC Pink: SOLCF) (FSE: 9SB) ("SOL" or "the Company") today announced a strategic shift by its wholly-owned subsidiary to primarily focus on investing in the Solana blockchain network following its successful exit from Core Scientific Inc. Through Solana's efficient and scalable network, SOL Global aims to harness growth in decentralized finance and next-generation applications as part of Solana's commitment to advancing innovation and enhancing digital capabilities.
The company has changed the name of its main investing wholly-owned subsidiary 'SOL Verano Blocker 1 LLC' to 'SOL Focused Investments LLC', which will concentrate on investing directly in Solana Blockchain and Solana derived technologies in order to capitalize on the technology's growth. SOL Global will continue working on a few core assets, while the remaining investments will be sold or wound down in order to focus directly on this initiative. SOL Global's strategic move underscores its dedication to advancing in the blockchain ecosystem and AI technologies, driving growth across evolving sectors.
"We're excited to make this strategic investment in Solana, a blockchain platform with the speed, scalability, and security that aligns with our vision of the future," said Paul Kania, CFO and Interim CEO of SOL. "Our investment research found that the Solana network provides us with that greatest opportunity for growth."
SOL Global's portfolio demonstrates a successful track record in digital assets. Along with Core Scientific, SOL's investment in Tokenise International Inc., a leader in regulated tokenized security exchanges, led to a successful acquisition by VERO Labs in 2023, enhancing creator and fan engagement. SOL also invested in Bitbuy, a Canadian cryptocurrency marketplace acquired by WonderFi, strengthening SOL's foothold in crypto exchanges and marketplaces.
Further diversifying its digital assets, SOL Global invested in Build A Rocket Boy Ltd. (BARB), an independent game studio founded by Leslie Benzies. BARB's flagship game, Everywhere, introduces an immersive metaverse blending user-generated content and virtual worlds. Supported by recent Series D funding, BARB exemplifies SOL Global's commitment to fostering innovation in digital experiences.
About Solana
Investing in Solana offers several potential benefits due to its unique features and positioning within the blockchain ecosystem. Solana is known for its high transaction speed and low fees. The network can handle over 65,000 transactions per second (TPS) with an average transaction cost of less than a cent. This scalability and affordability make it attractive for various use cases, from DeFi to gaming. Solana uses a unique mechanism called Proof of History (PoH), combined with Proof of Stake (PoS), allowing it to scale without sharding. This setup helps maintain speed and efficiency while keeping the network decentralized. Solana has a thriving ecosystem with many projects, including decentralized finance (DeFi) protocols, NFTs, gaming, and Web3 applications. This growing adoption can drive demand for Solana tokens and encourage innovation within the network, potentially boosting its value. Solana's ecosystem is increasingly interoperable, with cross-chain bridges like Wormhole enabling seamless asset transfers between Solana and other blockchains, such as Ethereum. This cross-chain functionality can make Solana more versatile and attract users and developers from other networks. Solana's architecture and tools are considered more developer-friendly than some other networks, and its ease of use encourages more developers to build on the platform. This developer focus could lead to a steady influx of innovative projects, sustaining ecosystem growth.
Solana represents an ideal next step due to its burgeoning ecosystem of developers, applications, and liquidity. Solana's infrastructure is attracting a significant migration of users due to its exceptional scalability, speed, and low transaction costs, making it the top choice for DeFi applications and decentralized exchanges. As more projects adopt Solana, demand is growing for sophisticated on-chain analytics tools like block explorers, essential for interpreting the complex array of transactions in modern DeFi. Block explorers, proven to be some of the most accessed tools in crypto, provide critical visibility across the blockchain, supporting Solana's expanding composability and data requirements.
Recent data underscores the high engagement Solana-based tools receive, such as block explorers and exchanges that connect directly to Solana's ecosystem, ranking among the most visited crypto sites. This high engagement reflects Solana's accelerated adoption, positioning it as one of the most promising blockchain platforms for user retention and network expansion. By reallocating capital into Solana at this critical growth stage, SOL Global can strengthen its presence in the decentralized finance and next-gen blockchain sectors, tapping into an active, expanding network with robust future potential. This shift aligns with our forward-looking investment philosophy, ensuring exposure to high-potential digital assets as we continue to focus on value generation through strategic timing and sector innovation.
About SOL Global Investments Corp.
SOL Global is a diversified international investment and private equity holding company. Its investment partnerships range from minority positions to large strategic holdings and advisory mandates. Key business segments include electric mobility, digital asset technology, esports & gaming, new age wellness, and residential commercial real estate.
CONTACT INFORMATION
SOL Global Investments Corp.
Paul Kania, Interim CEO, CFO
Phone: (212) 729-9208
Email: info@solglobal.com
Cautionary 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, selling or winding down its investments in non-core assets, and its expectations regarding the advantages and future growth of the Solana ecosystem. 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.
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.
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FAQ
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