Core Viewpoint - SOL Strategies Inc. is restructuring its balance sheet by converting 50% of its outstanding credit facility into equity, which reflects the lender's confidence in the company's business model focused on the Solana ecosystem [1][3]. Group 1: Credit Facility Details - The Amended Credit Facility allows for 50% of the outstanding balance to convert to equity at a price of C$2.14 per common share, resulting in the issuance of 2,300,726 common shares [2]. - The remaining balance of the credit facility will be repaid in two cash tranches of C$2,461,777.12 each, due within seven and forty-five days respectively [2]. Group 2: Management Commentary - The Interim CEO, Michael Hubbard, stated that this restructuring optimizes the capital structure and is a significant milestone in reducing liabilities [3]. - The conversion of half of the facility to equity demonstrates the lender's continued trust in the company's Solana infrastructure business [3]. Group 3: Related Party Transaction - The lender, Antanas Guoga, is a former Board Chairman and significant shareholder, holding approximately 13% of the company's outstanding common shares on an undiluted basis [3]. - The transaction is classified as a "related party transaction" under Multilateral Instrument 61-101, and the company is relying on exemptions from formal valuation and minority shareholder approval requirements [3]. Group 4: Reporting and Compliance - The company did not file a material change report 21 days prior to agreeing to the Amended Credit Facility, as it deemed it in its best interest to settle the terms without delay [4]. - A material change report will be filed containing all prescribed disclosures related to this related party transaction within the required timeframe [4].

Core Insights - SOL Strategies Inc. has been selected as a staking provider for the VanEck Solana ETF, enhancing its position as a key player in the Solana ecosystem [2][6][7] - The company engaged in industry events to connect with potential institutional partners, indicating a proactive approach to business development [3] - SOL Strategies has successfully managed its debt by repaying CAD $3 million and restructuring an additional CAD $4 million through a DeFi loan, showcasing effective balance sheet management [4] Corporate Highlights - The VanEck Solana ETF is a significant product aimed at both institutional and retail investors, utilizing SOL Strategies' Orangefin validator, which meets high security and compliance standards [2] - The company participated in notable conferences, including the Cantor Crypto Conference and Clear Street Disruptive Technology Conference, to foster relationships with potential partners [3] - The restructuring of the credit facility through a DeFi loan reflects the company's innovative approach to financial management within the Solana ecosystem [4] Treasury and Validator Operations - As of November 30, 2025, SOL Strategies holds approximately 526,637 SOL, valued at around CAD 103.16 million, with a validator uptime of 100% [8] - The company has delivered a peak annual percentage yield (APY) of 6.72% through its Orangefin validator, outperforming the network average of 6.34% [8] Institutional and Ecosystem Development - The selection as a staking provider for the VanEck Solana ETF reinforces SOL Strategies' reputation as a reliable institutional-grade partner [7] - Participation in the Marinade Select program further establishes the company's role in the Solana ecosystem [7]