Toronto, Ontario--(Newsfile Corp. - November 18, 2024) - SOL Global Investments Corp. (CSE: SOL) (OTC Pink: SOLCF) (FSE: 9SB) ("SOL Global" or "the Company") is pleased to announce that it has purchased its initial $2.0 million USD investment in Solana at a price of US$245, which gives it access to 8,123 Solana tokens.
SOL Global intends to hold the tokens and benefit from price appreciation as well as a yield through a process called staking. Staking is a mechanism that supports the Solana blockchain network's operations by delegating Solana tokens to validators on the network that use stake-weighted consensus votes to validate transactions on the blockchain and thereby maintain network integrity. By staking its Solana tokens, SOL Global will participate in the Solana network's Proof-of-Stake consensus mechanism, helping to secure and decentralize the blockchain, while earning rewards for its contribution. This investment strategy not only offers potential for asset appreciation but also enables SOL Global to generate a steady yield, enhancing the long-term value of its holdings.
SOL Global intends to continue its investment in Solana, as well as in related technologies and instruments that support the blockchain and crypto ecosystem. The Company sees a promising future for the broader crypto space, with Solana emerging as a leading technology due to its high-performance capabilities and scalability. SOL Global believes that Solana's innovative approach to decentralized applications and its growing ecosystem position it as a cornerstone of the digital economy. By expanding its commitment to Solana, SOL Global aims to capitalize on the long-term potential of blockchain advancements and the expanding role of decentralized finance.
About SOL Global Investments Corp.
SOL Global is a diversified international investment and private equity holding company. The Company is in the process of divesting its current investment partnerships and minority holdings. SOL Global recently announced the transition of investments to focus exclusively on digital asset technology, primarily on Solana and Solana based technologies.
CONTACT INFORMATION
SOL Global Investments Corp.
Paul Kania, Interim CEO, CFO
Phone: (212) 729-9208
Email: info@solglobal.com
Cautionary note regarding forward-looking information:
This press release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements herein, other than statements of historical fact, constitute forward-looking information. Forward-looking information is frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements relating to the Company's intention to increase its investment in Solana, by the investment amount, and on the timeline, intended; the Company's intention to stake its Solana tokens on Solana's network, and the expected price appreciation and yield associated with its staking; the Company's expectations related to future financing activities and divestitures of current investment partnerships and minority holdings and the completion and expected benefits thereof; the Company's business and investment strategies; investor interest and confidence in digital assets, in particular in Solana; the expected growth of the Solana ecosystem; the regulatory environment with respect to the growth and adoption of decentralized finance; the pursuit by the Company of business and investment opportunities; and the merits or potential returns of any such opportunities. Forward-looking information reflects the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, technical, economic, and competitive uncertainties and contingencies, including the speculative nature of cryptocurrencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, without limitation, the Company's ability to execute on its business and investment plans, including the Company's ability to raise debt or equity through future financing activities and divest its current investment partnerships and minority holdings to increase its investment in Solana; the growth of the Solana ecosystem; growth and development of decentralized finance and digital asset sector; rules and regulations with respect to decentralized finance and digital assets; general business, economic, competitive, political and social uncertainties. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on the forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230404
SOURCE: SOL Global Investments Corp.
