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SOL Strategies Inc. Announces Closing of Upsized C$30 Million LIFE Offering
EmerenEmeren(US:SOL) Newsfileยท2025-10-01 13:31

Core Viewpoint - SOL Strategies Inc. has successfully closed a private placement of 4,380,000 units at a price of C$6.85 per unit, raising gross proceeds of C$30,003,000 to enhance its Solana treasury and validator operations [1][4][9]. Group 1: Offering Details - Each unit consists of one common share and one warrant, with the warrant allowing the purchase of one common share at an exercise price of C$8.90 for 36 months [2][9]. - The offering was conducted by Canaccord Genuity Corp. as the agent, with a cash commission of 6.0% on gross proceeds and broker warrants issued equivalent to 6.0% of units sold [3][9]. Group 2: Use of Proceeds - The net proceeds will primarily be used for purchasing SOL tokens to expand the company's treasury, including acquiring locked SOL tokens at a discount with a 12-month lock period [4][9]. - The company anticipates that the net proceeds will allow the addition of over 90,000 SOL tokens to its treasury, which will be delegated to validators for generating additional staking rewards [5][9]. Group 3: Future Financial Implications - If all warrants are exercised, the company could receive an additional gross proceeds of approximately C$38.9 million, further supporting treasury expansion and corporate purposes [5][9]. Group 4: Company Overview - SOL Strategies Inc. operates as a Canadian investment company focused on blockchain innovation, combining a digital asset treasury strategy with a revenue-generating validator business model [8].