Fitell Corporation Completes Initial $10 million Solana (SOL) Purchase Following the First Closing under $100M Financing Facility

Group 1 - Fitell Corporation announced the acquisition of 46,144 Solana (SOL) for approximately $10 million, marking the first strategic purchase under its Solana treasury initiative [1][2] - The acquisition follows a $100 million financing announcement, demonstrating the company's commitment to its Solana treasury strategy and plans for further SOL purchases using net proceeds from the financing [2] - At least 70% of the net proceeds from future closings will be allocated to cryptocurrency acquisitions for the treasury reserve, with the remainder for broader crypto operations and working capital [2] Group 2 - Fitell Corporation operates through its wholly owned subsidiary GD Wellness Pty Ltd, focusing on online retail of gym and fitness equipment in Australia [4] - The company aims to create a comprehensive fitness and wellness ecosystem powered by technology, having served over 100,000 customers with a significant portion of sales from repeat customers [4] - Fitell's brand portfolio includes three proprietary brands under Gym Direct, offering over 2,000 stock-keeping units (SKUs) [4]