The acquired validators operate on the Solana, Solana Testnet, and Arch Testnet networks (the “Validators”). Upon completion of the Acquisition, Sol Strategies will have increased its staked SOL to 1,505,145 SOL (CAD $406,852,077) across its validator operations, of which Sol owns 142,801 SOL, at an approximate average of 9% annual percentage yield (“APY”). Post-acquisition, Sol Strategies will manage the staked SOL across its validators as follows:

• 193,790 SOL (CAD $52,382,903) on Sol Strategies’ proprietary validator, of which 142,684 SOL is delegated by the Company.
• 677,136 SOL (CAD $183,034,982) on Sol Strategies’ recently acquired Cogent Crypto validator.
• 634,219 SOL (CAD $171,434,192) on Sol Strategies’ recently acquired Orangefin Ventures’ Solana validator.

This combined portfolio enhances Sol Strategies’ revenue streams, delivering predictable staking income and further solidifying its position as a leading infrastructure provider in the Solana ecosystem.

*The above Canadian dollar (CAD) amounts are based on prices and foreign exchange rates quoted by Coinbase (https://www.coinbase.com/converter/sol/cad and https://www.coinbase.com/converter/btc/cad) and using https://www.google.com/finance/quote/USD-CAD as at 6:00 pm ET on December 19, 2024.

The Acquisition will be completed for a purchase price of USD$6,500,000 (approximately CAD $9.4 million), payable through a combination of cash and common shares of Sol Strategies. Pursuant to the terms of the Agreement, Sol Strategies will acquire a 100% ownership interest in the Validators and all ancillary rights and assets required for the management of the Validators (the “Purchased Assets”). The Agreement also provides that in consideration for the Purchased Assets, the Company will (i) pay USD$750,000 (approximately CAD $1.1 million) in cash or through stablecoin on closing of the Acquisition (“Closing”), (ii) issue USD$750,000 in common shares of Sol Strategies (each, a “Common Shares”) on Closing (valued at a price of CAD $2.14 per Common Share for a total of 503,621 Common Shares), and (iii) issue US$5,000,000 in additional Common Shares (valued at the trading price per Common Share at the time of issuance) in six equal tranches every six months over a period of three years from Closing. The Acquisition also includes performance-based milestones that align the interests of the Orangefin Ventures team with those of Sol Strategies and its shareholders.

In connection with the Acquisition terms, Max Kaplan joined Sol Strategies as the new Head of Staking. Mr. Kaplan is the former Senior Director of Engineering at Kraken and brings a proven track record in scaling high-performance systems, optimizing operations, and driving innovation in cryptocurrency infrastructure. His expertise in DevOps, blockchain, and high-frequency trading will be pivotal in advancing Sol Strategies’ staking operations and maximizing the potential of its expanded validator network.

“This Acquisition marks a significant step forward in cementing our leadership in blockchain infrastructure and validator operations. Orangefin Ventures’ proven reliability, exceptional performance, and scale bring immediate value to our staking operations,” said Leah Wald, CEO of Sol Strategies.

Max Kaplan, newly appointed Head of Staking at Sol Strategies added: “I’m thrilled to be joining Sol Strategies to build on our shared vision of advancing Solana and blockchain infrastructure. Bringing Orangefin Venture’s technology into Sol Strategies’ business is an opportunity I am extremely excited and optimistic about. I look forward to continuing to innovate and build high value products for participants and shareholders alike. ”

Closing is expected in Q1 2025, subject to customary closing conditions, including regulatory approvals.

*The staking yield and SOL amounts referenced in this release are publicly available and can be reviewed on the Stakewiz platform under Sol Strategies’ validator profiles: https://stakewiz.com/validator/punK4RDD3pFbcum79ACHatYPLLE1hr5UNnQVUGNfeyP
Orangefin Ventures Validator: https://stakewiz.com/validator/oRAnGeU5h8h2UkvbfnE5cjXnnAa4rBoaxmS4kbFymSe, and Cogent Cryptos Validator: https://stakewiz.com/validator/CogentC52e7kktFfWHwsqSmr8LiS1yAtfqhHcftCPcBJ

About Sol Strategies
Sol Strategies Inc. (CSE: HODL) is a publicly traded Canadian company actively investing in and providing infrastructure for the Solana blockchain ecosystem. The Company focuses on validator operations, staking rewards, and strategic investments in Solana-based projects, enabling shareholders to participate in the decentralized finance and blockchain infrastructure landscape. For more information, visit www.solstrategies.io.

About Orangefin Ventures
Orangefin Ventures is a blockchain infrastructure leader specializing in validator operations and decentralized network solutions. The company’s cutting-edge technology, ISO 27001 certification, and reliable performance have made it a trusted name in the Solana ecosystem. For more information, visit www.orangefin.ventures

A copy of this news release and all related material documents regarding the Company may be obtained under the Company’s SEDAR+ profile at www.sedarplus.ca.

Cautionary Note Regarding Forward-Looking Information:
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward‐looking statements and information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to (i) the Company’s or the Company’s management team’s expectations, hopes, beliefs, intentions or strategies regarding the future, (ii) expectations regarding the characteristics, value drivers, and anticipated benefits of the Acquisition and the appointment of a new Head of Staking, (iii) expectations regarding the timing of Closing and the Company’s future development opportunities in connection with the Acquisition, and (iv) the Company’s business plans and operations related thereto. Forward-looking information can also be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved”.

Forward-looking statements in this news release include statements regarding the completion of the Nasdaq listing and completion of the transactions contemplated by the letter of intent to acquire three additional validators, and their intended impact on the Company. There is no assurance that the Nasdaq listing or the validator acquisition will be completed or that the Company’s plans or objectives will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made and is subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.

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 forward-looking information. Forward-looking statements are made based on management’s beliefs, estimates, and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates, and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.

Disclaimer:
Sol Strategies is an independent organization in the Solana ecosystem. Sol Strategies is not affiliated with, owned by, or under common control with Solana Foundation (the “Foundation”), and the Foundation has not entered into any association, partnership, joint venture, employee, or agency relationship with Sol Strategies. None of the Foundation or its council members, officers, agents or make any representations or warranties, recommendations, endorsements or promises with respect to the accuracy of any statements made, information provided, or action taken by Sol Strategies and expressly disclaim any and all liability arising from or related to any such statements, information or action.

The post Sol Strategies Signs Definitive Agreement for the Acquisition of Validators and Leadership from Orangefin Ventures appeared first on Sol Strategies | TradFi meets Solana.

Operational Milestones

Under the leadership of Chief Executive Officer, Leah Wald, Sol Strategies has successfully realigned its strategy, driving a remarkable 2,336% increase in stock performance and propelling the company’s market cap from CAD $17M to an impressive CAD $394.86M since her appointment as CEO in July. This extraordinary growth solidifies Sol Strategies as a pioneering force in the blockchain sector and a key player in driving the adoption of Solana’s ecosystem at scale.

Recent operational milestones underscore Sol Strategies’ significant growth in 2024. The acquisition of four blockchain validators from Cogent Crypto has solidified the company’s position within the Solana ecosystem, enhancing operational capabilities and revenue potential. Additionally, as announced in a press release on December 4, 2024, the Company has signed a Letter of Intent to acquire three additional blockchain validators, a strategic move designed to further diversify revenue streams and enhance network participation.

Demonstrating its growth trajectory, Sol Strategies has applied to list on the Nasdaq Stock Market, reflecting its commitment to meeting global capital market standards and attracting a diverse investor base.

*Stock data sourced from Yahoo Finance Canada: https://ca.finance.yahoo.com/quote/HODL.CN/. Calculations use the closing price from July 8, 2024 (prior to Leah Wald assuming the role of CEO on July 9), and the closing price from December 11, 2024.

Strategy Overview

Since rebranding to focus on Solana in September, Sol Strategies is focused on purchasing and staking SOL and operating validators on the Solana blockchain. This strategic direction allows investors to gain exposure to the growth and innovation within the Solana ecosystem without the complexities associated with directly managing cryptocurrency assets. By pursuing this approach, Sol Strategies aims to bridge the gap between public markets and decentralized finance. The Company is committed to providing a compliant and accessible platform that enables shareholders to participate in the advancement of blockchain technology and benefit from Solana’s transformative potential.

Investment Portfolio Overview

• Solana Investments: Sol Strategies increased its Solana holdings to 142,031.09 SOL, as of December 11, 2024, the Company’s last press release disclosing its SOL holdings. Current holdings are valued at CAD $46,011,897.
• Delegated Stake: The total delegated stake to the Company’s validators reached 948,242.86 SOL, valued at CAD $307,839,638. This includes 142,031.09 SOL delegated by the Company, as of December 11, 2024, the Company’s last press release disclosing its SOL holdings.
• Bitcoin Holdings: the Company now holds 3.168 BTC, as of December 11, 2024, the Company’s last press release disclosing its SOL holdings. Current holdings are valued at CAD $454,908.
• Cash Position: The Company maintains a cash position of CAD $1,600,000.
• Other Investments: Sol Strategies holds additional private equity and venture capital investments valued at approximately CAD $442,000.
• Liabilities: As of the date hereof, the Company has net liabilities of approximately CAD $2,857,571.

*The above Canadian dollar (CAD) amount are based on prices and foreign exchange rates quoted by Coinbase (https://www.coinbase.com/converter/sol/cad and https://www.coinbase.com/converter/btc/cad) and using https://www.google.com/finance/quote/USD-CAD as at 3:49 pm ET on December 11, 2024.

Leah Wald, CEO of Sol Strategies, commented: “The progress we have made over the past six months is a testament to the dedication and expertise of our entire team. Together, we have laid a strong foundation for sustainable growth as we look toward 2025. Sol Strategies continues to build its presence within the Solana ecosystem, thoughtfully accumulating valuable assets and strengthening our operational capabilities. By maintaining a disciplined and strategic approach, we are well-positioned to navigate the opportunities ahead and create long-term value for our shareholders.”

About Sol Strategies

Sol Strategies is a publicly traded Canadian company actively investing in, supporting, and providing infrastructure for the Solana blockchain and ecosystem. The Company focuses on leveraging investment opportunities in staking rewards and Solana-based projects, enabling shareholders to indirectly participate in the decentralized finance landscape. Sol Strategies is headquartered in Toronto, Canada, and is publicly listed on the Canadian Securities Exchange under the ticker “HODL” and on the OTC market under the ticker “CYFRF”.

To learn more about Sol Strategies, please visit www.solstrategies.io. A copy of this news release and all the Company’s related material documents regarding the Company may be obtained under the Company’s SEDAR+ profile at www.sedarplus.ca.

Cautionary Note Regarding Forward-Looking Information:

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward‐looking statements and information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to the Company’s or the Company’s management team’s expectations, hopes, beliefs, intentions or strategies regarding the future, and expectations regarding the characteristics, value drivers, and anticipated benefits of the Company’s Nasdaq application, the Company’s letter of intent to acquire three additional validators, the appointment of a new strategic advisor, and the Company’s business plans and operations related thereto. Forward-looking information can also be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved”.

Forward-looking statements in this news release include statements regarding the completion of the Nasdaq listing and completion of the transactions contemplated by the letter of intent to acquire three additional validators, and their intended impact on the Company. There is no assurance that the Nasdaq listing or the validator acquisition will be completed or that the Company’s plans or objectives will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made and is subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.

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 forward-looking information. Forward-looking statements are made based on management’s beliefs, estimates, and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates, and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.

Disclaimer:

Sol Strategies is an independent organization in the Solana ecosystem. Sol Strategies is not affiliated with, owned by, or under common control with Solana Foundation (the “Foundation”), and the Foundation has not entered into any association, partnership, joint venture, employee, or agency relationship with Sol Strategies.

None of the Foundation or its council members, officers, agents or make any representations or warranties, recommendations, endorsements or promises with respect to the accuracy of any statements made, information provided, or action taken by Sol Strategies and expressly disclaim any and all liability arising from or related to any such statements, information or action.

The post Sol Strategies Highlights H2 2024 Achievements appeared first on Sol Strategies | TradFi meets Solana.

Solana Holdings

• Option Exercise: The Company recently acquired 8,000 SOL through the exercise of call options with an exercise price of USD $180 per SOL, for a total cost of USD $1,520,000 (CAD $2,131,344).
• Market Purchases and Sales: Since October 29, 2024, the Company purchased 5,852.93 SOL for a total cost of USD$1,386,838 (CAD $1,966,267) and sold 4,080 SOL for net proceeds of US$1,004,102 (CAD $1,402,530) which was used to pay the cash portion of the Cogent Crypto acquisition that closed on November 25, 2024.
• Solana Investments: Sol Strategies increased its SOL holdings to 142,031.09 SOL (CAD $42,949,817) an increase of 11,905.87 SOL from 130,125.22 SOL (CAD $32,202,081) as of October 29, 2024, the Company’s last press release disclosing its SOL holdings.
• Delegated Stake: The total delegated stake to the Company’s validators reached 948,242.86 SOL, including 142,031.09 SOL delegated by the Company.
• Bitcoin Holdings: Following a strategic sale of 19.7975 BTC for CAD $2,718,126 in gross proceeds, the Company now holds 3.168BTC, valued at CAD $436,333.

○ On December 6, 2024, the Company sold 19.7975 BTC for gross proceeds of CAD $2,718,126, which was used to exercise the options to acquire SOL, as stated in this release.
○ As of October 29, 2024, the Company’s last reporting period, Sol Strategies held 23.168 BTC (CAD $3,191,181).

*The above Canadian dollar (CAD) amount are based on prices and foreign exchange rates quoted by Coinbase (https://www.coinbase.com/converter/sol/cad and https://www.coinbase.com/converter/btc/cad) and using https://www.google.com/finance/quote/USD-CAD as at 6:25 pm ET on December 10, 2024.

Leah Wald, CEO of Sol Strategies commented: “This reallocation highlights our strategic focus on Solana as a cornerstone of our investment strategy. By converting Bitcoin into additional Solana holdings, we are reinforcing our commitment to the ecosystem’s growth and its potential to deliver long-term value for our shareholders.”

About Sol Strategies
Sol Strategies is a publicly traded Canadian company actively investing in, supporting, and providing infrastructure for the Solana blockchain and ecosystem. The Company focuses on leveraging investment opportunities in staking rewards and Solana-based projects, enabling shareholders to indirectly participate in the decentralized finance landscape. Sol Strategies is headquartered in Toronto, Canada, and is publicly listed on the Canadian Securities Exchange under the ticker “HODL” and on the OTC market under the ticker “CYFRF”.

To learn more about Sol Strategies, please visit www.solstrategies.io. A copy of this news release and all the Company’s related material documents regarding the Company may be obtained under the Company’s SEDAR+ profile at www.sedarplus.ca.

Cautionary Note Regarding Forward-Looking Information:
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward‐looking statements and information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to the Company’s or the Company’s management team’s expectations, hopes, beliefs, intentions or strategies regarding the future, and expectations regarding the characteristics, value drivers, and anticipated benefits of the Company’s Nasdaq application, the Company’s letter of intent to acquire three additional validators, the appointment of a new strategic advisor, and the Company’s business plans and operations related thereto. Forward-looking information can also be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved”.

Forward-looking statements in this news release include statements regarding the completion of the Nasdaq listing and completion of the transactions contemplated by the letter of intent to acquire three additional validators, and their intended impact on the Company. There is no assurance that the Nasdaq listing or the validator acquisition will be completed or that the Company’s plans or objectives will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made and is subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.

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 forward-looking information. Forward-looking statements are made based on management’s beliefs, estimates, and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates, and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.

Disclaimer:
Sol Strategies is an independent organization in the Solana ecosystem. Sol Strategies is not affiliated with, owned by, or under common control with Solana Foundation (the “Foundation”), and the Foundation has not entered into any association, partnership, joint venture, employee, or agency relationship with Sol Strategies.

None of the Foundation or its council members, officers, agents or make any representations or warranties, recommendations, endorsements or promises with respect to the accuracy of any statements made, information provided, or action taken by Sol Strategies and expressly disclaim any and all liability arising from or related to any such statements, information or action.

The post Sol Strategies Sells Bitcoin to Increase Solana Holdings appeared first on Sol Strategies | TradFi meets Solana.

The Company’s listing application is subject to review and approval by Nasdaq’s listing qualifications department for compliance with all Nasdaq Capital Market standards, as well as any other relevant regulatory approvals. The Company must also file a registration statement with the Securities and Exchange Commission (“SEC”) and have it declared effective before being listed on Nasdaq.

Leah Wald, CEO of Sol Strategies, commented: “Submitting our Nasdaq application represents a pivotal step in our journey to bridge institutional investment with the boundless potential of the Solana ecosystem. This milestone positions us to drive transformative growth and deliver sustained value to our shareholders as we bring our strategic vision to life.”

While advancing its uplisting plans, the Company’s common stock will continue trading on the OTC market under the ticker symbol “CYFRF.” and the Company will continue to maintain the listing of its common stock on the Canadian Securities Exchange under ticker symbol “HODL”. Sol Strategies remains committed to maximizing shareholder value and achieving a Nasdaq listing as a key component of its growth strategy.

About Sol Strategies

Sol Strategies is a publicly traded Canadian company actively investing in, supporting, and providing infrastructure for the Solana blockchain and ecosystem. The Company focuses on leveraging investment opportunities in staking rewards and Solana-based projects, enabling shareholders to indirectly participate in the decentralized finance landscape. Sol Strategies is headquartered in Toronto, Canada, and is publicly listed on the Canadian Securities Exchange under the ticker “HODL“ and on the OTC market under the ticker “CYFRF“.

To learn more about Sol Strategies, please visit www.solstrategies.io. A copy of this news release and all the Company’s related material documents regarding the Company may be obtained under the Company’s SEDAR+ profile at www.sedarplus.ca.

Cautionary Note Regarding Forward-Looking Information:

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward‐looking statements and information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to expectations regarding the characteristics, value drivers, and anticipated benefits of the Company’s Nasdaq application and the Company’s business plans and operations related thereto. Forward-looking information can also be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved”.

Forward-looking statements in this news release include statements regarding the completion of the Nasdaq listing and its intended impact on the Company. There is no assurance that the Nasdaq listing will be completed or that the Company’s plans or objectives will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made and is subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.

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 forward-looking information. Forward-looking statements are made based on management’s beliefs, estimates, and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates, and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.

Disclaimer:
Sol Strategies is an independent organization in the Solana ecosystem. Sol Strategies is not affiliated with, owned by, or under common control with Solana Foundation (the “Foundation”), and the Foundation has not entered into any association, partnership, joint venture, employee, or agency relationship with Sol Strategies.

None of the Foundation or its council members, officers, agents or make any representations or warranties, recommendations, endorsements or promises with respect to the accuracy of any statements made, information provided, or action taken by Sol Strategies and expressly disclaim any and all liability arising from or related to any such statements, information or action.

The post Sol Strategies Applies For Listing on Nasdaq Exchange appeared first on Sol Strategies | TradFi meets Solana.

The Proposed Transaction would increase the amount of SOL delegated to Sol Strategies-owned Solana validators to 1,493,3784 SOL (CAD $470,397,586), an increase of 554,714 SOL (CAD $174,728,786), enabling Sol Strategies to earn validation commission on this delegation.

The consideration payable to the Vendor pursuant to the Proposed Transaction is as follows:

(i) USD $750,000 in cash (or SOL or USDC, at the Company’s option), payable on closing of the Proposed Transaction.

(ii) USD $750,000 of Sol Strategies common shares (“Common Shares”), issued at closing of the Proposed Transaction based on the closing price of the Common Shares on the date of signing of the definitive agreement.

(iii) USD $5,000,000 of Common Shares issuable over a period of three years from the date of closing of the Proposed Transaction, subject to performance targets.

Completion of the Proposed Transaction is subject to customary conditions including, but not limited to:

(i) the Company and the Vendor entering into a definitive agreement;

(ii) receipt of all required consents; and

(iii) regulatory approval, including the Canadian Securities Exchange.

There are no finder’s fees payable in connection with the Proposed Transaction.

The expected yearly net income from the new Solana validator operation is currently projected at $2,600,000 CAD, showcasing the potential of the validator’s economic contributions to Sol Strategies’ business model.

The Canadian dollar (CAD) amounts in this news release are based on cryptocurrency price rates from Coinbase on December 3, 2024.

About Sol Strategies

Sol Strategies is a publicly traded holding company committed to the continued development of the Solana blockchain and ecosystem through its private equity and financial markets activities. Sol Strategies seeks to leverage investment opportunities in staking rewards and Solana-based projects, allowing shareholders to indirectly participate in decentralized finance. The Company is headquartered in Toronto, Canada, and is publicly listed on the Canadian Securities Exchange under the ticker HODL and on the OTC market under the ticker CYFRF.

To learn more about Sol Strategies, please visit www.solstrategies.io. A copy of this news release and all the Company’s related material documents regarding the Company may be obtained under the Company’s SEDAR+ profile at www.sedarplus.ca.

Cautionary Note Regarding Forward-Looking Information:

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward‐looking statements and information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to (i) expectations regarding the characteristics, value drivers, and anticipated benefits of the engagement, (ii) expectations concerning the Company’s business plans and operations, (iii) expectations regarding the Company entering into a definitive agreement for the Proposed Transaction and the timing and closings thereof, and (iv) expectations regarding the Company’s future development opportunities in connection with the Proposed Transaction. Forward-looking information can also be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved”.

Forward-looking statements in this news release include statements regarding the completion of the Proposed Transaction and its intended impact on the Company, the Company’s future investing plans, and staking plans. There is no assurance that the Proposed Transaction will be completed or that the Company’s plans or objectives will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made and is subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.

The purpose of forward-looking information is to provide the reader with a description of management’s expectations, and such forward-looking information may not be appropriate for any other purpose. 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 forward-looking information. Forward-looking statements are made based on management’s beliefs, estimates, and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates, and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.

Disclaimer:
Sol Strategies is an independent organization in the Solana ecosystem. Sol Strategies is not affiliated with, owned by, or under common control with Solana Foundation (the “Foundation”), and the Foundation has not entered into any association, partnership, joint venture, employee, or agency relationship with Sol Strategies.

None of the Foundation or its council members, officers, agents or make any representations or warranties, recommendations, endorsements or promises with respect to the accuracy of any statements made, information provided, or action taken by Sol Strategies and expressly disclaim any and all liability arising from or related to any such statements, information or action.

The post Sol Strategies Announces Letter of Intent to Acquire Validators appeared first on Sol Strategies | TradFi meets Solana.

The Completed Acquisition increases the total SOL delegated to the Company’s Solana validators to 941,224 SOL, valued at CAD $336,180,652. Validators on the SUI, Monad, and Arch blockchains carry additional token delegations valued at CAD $172,024,602.

According to Cogent Crypto’s Validator Profit Calculator, the expected yearly net income from Cogent’s Solana validator operation is currently projected at $6,783,157 CAD, showcasing the potential of the validator’s economic contributions to Sol Strategies’ business model.

This projection is based on current market conditions, staking levels, and Solana network performance, and is subject to change due to factors such as validator uptime, network activity, and fluctuations in token prices.

CAD to USD calculations in this news release are based on quotes from Google Finance as of November 25, 2024. SOL to CAD and SUI to CAD calculations are based on the Coinbase converter as of November 25, 2024, at 2:30 p.m., eastern time. Solana validator numbers are found on stakewiz.com and SUI validator numbers are found on https://suigo.app/.

Effective immediately, Sol Strategies has assumed full operational control of Cogent Crypto’s Validators, following the approval of the Canadian Securities Exchange and the announcement of today’s Completed Acquisition.

Leah Wald, CEO of Sol Strategies, commented: “As interest in Solana continues to expand, solidifying its position as a premier blockchain for decentralized finance, we remain focused on planting our flag firmly within the ecosystem. The acquisition of Cogent Crypto’s validators marks a pivotal moment in Sol Strategies’ mission to drive the growth and adoption of the Solana ecosystem. By expanding our staking capabilities, we are enhancing our ability to deliver value to shareholders while solidifying Solana’s role as a cornerstone of the digital asset landscape.”

About Sol Strategies

Sol Strategies is a publicly traded holding company committed to the continued development of the Solana blockchain and ecosystem through its private equity and financial markets activities. Sol Strategies seeks to leverage investment opportunities in staking rewards and Solana-based projects, allowing shareholders to indirectly participate in decentralized finance. The Company is headquartered in Toronto, Canada, and is publicly listed on the Canadian Securities Exchange under the ticker HODL and on the OTC market under the ticker CYFRF.

To learn more about Sol Strategies, please visit www.solstrategies.io. A copy of this news release and all the Company’s related material documents regarding the Company may be obtained under the Company’s SEDAR+ profile at www.sedarplus.ca.

Cautionary Note Regarding Forward-Looking Information:

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward‐looking statements or information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to (i) expectations regarding the characteristics, value drivers, and anticipated benefits of the Completed Acquisition, (ii) expectations regarding the Company’s future development opportunities in connection with Completed Acquisition; and (iii) expectations concerning the Company’s business plans and operations. Forward-looking information can also be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved”.

Forward-looking statements in this news release include statements regarding completion of the Completed Acquisition and its intended impact on the Company, the Company’s future investing plans and staking plans. There is no assurance that the Company’s plans or objectives will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.

The purpose of forward-looking information is to provide the reader with a description of management’s expectations, and such forward-looking information may not be appropriate for any other purpose. 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 forward-looking information. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.

Disclaimer:

Sol Strategies is an independent organization in the Solana ecosystem. Sol Strategies is not affiliated with, owned by, or under common control with Solana Foundation (the “Foundation”), and the Foundation has not entered into any association, partnership, joint venture, employee, or agency relationship with Sol Strategies.

None of the Foundation or its council members, officers, agents or make any representations or warranties, recommendations, endorsements or promises with respect to the accuracy of any statements made, information provided, or action taken by Sol Strategies and expressly disclaim any and all liability arising from or related to any such statements, information or action.

The post Sol Strategies Announces Completion of Cogent Crypto Validator Acquisition appeared first on Sol Strategies | TradFi meets Solana.

Mr. Pompliano brings a wealth of expertise in digital assets and venture capital to Sol Strategies. Currently, he is the founder and CEO of Professional Capital Management, an investment firm allocating capital across public and private markets. His pioneering efforts in digital asset education, through ventures like The Pomp Podcast and The Pomp Letter, have cemented his reputation as a trusted voice in the crypto industry. Additionally, Mr. Pompliano has a proven track record as an investor, backing companies like Coinbase, Lyft, Reddit, and Everlywell.

“Joining Sol Strategies as an advisor is an incredible opportunity to contribute to the growth of the company,” said Anthony Pompliano on his appointment. “Sol Strategies’ commitment to giving public market investors access to the Solana ecosystem is a valuable strategy that should be well-received by capital allocators. I look forward to working with the team to drive impactful investments and accelerate the business.”

Leah Wald, CEO of Sol Strategies, commented on the appointment: “With the growing interest in the Solana ecosystem, Mr. Pompliano’s unparalleled experience in bridging traditional finance and digital assets makes him an invaluable addition to Sol Strategies. His insights will be instrumental in advancing our mission to ensure secure pathways for investors to access Solana’s success.”

In exchange for the advisory services, the Company has agreed to grant 563,669 restricted share units to Mr. Pompliano, subject to the approval of the Company’s board and shareholders and the Canadian Securities Exchange.

About Sol Strategies
Sol Strategies is a publicly traded holding company committed to the continued development of the Solana blockchain and ecosystem through its private equity and financial markets activities. Sol Strategies seeks to leverage investment opportunities in staking rewards and Solana-based projects, allowing shareholders to indirectly participate in decentralized finance. The Company is headquartered in Toronto, Canada, and is publicly listed on the Canadian Securities Exchange under the ticker HODL and on the OTC market under the ticker CYFRF.

To learn more about Sol Strategies, please visit www.solstrategies.io. A copy of this news release and all the Company’s related material documents regarding the Company may be obtained under the Company’s SEDAR+ profile at www.sedarplus.ca.

Cautionary Note Regarding Forward-Looking Information:

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward‐looking statements and information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to (i) expectations regarding the characteristics, value drivers, and anticipated benefits of the engagement, and (ii) expectations concerning the Company’s business plans and operations. Forward-looking information can also be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved”.

Forward-looking statements in this news release include statements regarding the completion of the Acquisition and its intended impact on the Company, the Company’s future investing plans, and staking plans. There is no assurance that the Acquisition will be completed or that the Company’s plans or objectives will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.

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 forward-looking information. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.

Disclaimer:
Sol Strategies is an independent organization in the Solana ecosystem. Sol Strategies is not affiliated with, owned by, or under common control with Solana Foundation (the “Foundation”), and the Foundation has not entered into any association, partnership, joint venture, employee, or agency relationship with Sol Strategies.

None of the Foundation or its council members, officers, agents or make any representations or warranties, recommendations, endorsements or promises with respect to the accuracy of any statements made, information provided, or action taken by Sol Strategies and expressly disclaim any and all liability arising from or related to any such statements, information or action.

The post Sol Strategies Appoints Prominent Digital Assets Investor Anthony Pompliano as Company Advisor appeared first on Sol Strategies | TradFi meets Solana.

The Acquisition would increase the amount of SOL delegated to Sol Strategies-owned Solana validators to 948,804 SOL (CAD $285,866,889), an increase of 699,012 SOL (CAD $210,570,732), enabling Sol Strategies to earn validation commission on this delegation.

Three other validator assets to be acquired on the SUI, MONAD, and ARCH network have cumulative delegations of CAD $181,444,889.40.

Validators play a crucial role in maintaining transaction integrity and network stability while enabling yield generation through staking—a role Cogent Crypto has distinguished itself in with exceptional reliability and technical rigor. The Acquisition positions Sol Strategies to capitalize on Cogent Crypto’s proven success and further the growth of the Company’s staking operations with the addition of new, high-quality validator infrastructure.

CAD to USD calculations in this news release are based on quotes from Google Finance as at November 14, 2024. SOL to CAD and SUI to CAD calculations are based on Coin Base converter as of November 13, 2024.

Leah Wald, CEO of Sol Strategies commented: “For this next phase of Sol Strategies, we are focused on making the Company’s first acquisition to advance the Company’s long-term growth strategy. This acquisition will meaningfully expand Sol Strategies’ staking capabilities, which underpins Solana’s reputation as a next generation blockchain for institutional and decentralized applications alike. By building on Cogent Crypto’s established role in the ecosystem, Sol Strategies is positioned to support the future of decentralized finance and drive long-term value creation for shareholders.”

Acquisition Terms

Pursuant to the terms of the Acquisition, Sol Strategies will acquire a 78% interest in a Validator on the Solana blockchain and a 100% ownership interest in Validators on the SUI blockchain, Monad blockchain, and Arch blockchains including main networks and test networks, and all accounts, information, data, infrastructure, intellectual property, rights, authorities and other property and components required for or associated with the access, management, operation and other use or exploitation of such Validator in the business of Cogent Crypto (the “Purchased Assets”). Sol Strategies will assume full operational control of Cogent Crypto’s Validators effective immediately on the closing of the Acquisition (the “Closing”).

Under the Definitive Agreement and in consideration for the Purchased Assets, the Company will (i) pay USD $1,000,000 in cash on Closing, (ii) issue 1,162,000 common shares of Sol Strategies (each a “Common Share”) on Closing (valued at a price of CAD $1.20 per Common Share), and (iii) issue 18,592,000 Common Shares (valued at a price of CAD $1.20 per Common Share) over a period of three years from Closing on specific dates prescribed in the Definitive Agreement (the “Remaining Share Consideration”). The Common Shares issued as consideration for the Acquisition are subject to a statutory four-month hold period upon issuance and certain mutually agreed to trading restrictions.

On each business day prior to the issuance of the Remaining Share Consideration if the total amount of Solana staked to the Solana Validator is 5% or more less than the amount of Solana staked at Closing the Remaining Share Consideration to be paid on the applicable payment date prescribed in the Definitive Agreement shall be reduced by an equal percentage difference.

The Acquisition remains subject to customary closing conditions, including the approval of the Canadian Securities Exchange.

The Company will not be assuming any long-term debt, and no finder’s fees are payable in conjunction with the Acquisition.

About Sol Strategies

Sol Strategies is a publicly traded holding company committed to the continued development of the Solana blockchain and ecosystem through its private equity and financial markets activities. Sol Strategies seeks to leverage investment opportunities in staking rewards and Solana-based projects, allowing shareholders to indirectly participate in decentralized finance. The Company is headquartered in Toronto, Canada, and is publicly listed on the Canadian Securities Exchange under the ticker HODL and on the OTC market under the ticker CYFRF.

To learn more about Sol Strategies, please visit www.solstrategies.io. A copy of this news release and all the Company’s related material documents regarding the Company may be obtained under the Company’s SEDAR+ profile at www.sedarplus.ca.

Cautionary Note Regarding Forward-Looking Information:

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward‐looking statements or information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to (i) expectations regarding the characteristics, value  drivers, and anticipated benefits of the Acquisition, (ii) expectations regarding the Company’s closing times and future development opportunities in connection with Acquisition; (iii)  expectations regarding the timing and closings thereof; and (iv) expectations concerning the Company’s business plans and operations. Forward-looking information can also be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved”.

Forward-looking statements in this news release include statements regarding completion of the Acquisition and its intended impact on the Company, the Company’s future investing plans and staking plans. There is no assurance that the Acquisition will be completed or that the Company’s plans or objectives will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.

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 forward-looking information. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.

Disclaimer:

Sol Strategies is an independent organization in the Solana ecosystem. Sol Strategies is not affiliated with, owned by, or under common control with Solana Foundation (the “Foundation”), and the Foundation has not entered into any association, partnership, joint venture, employee, or agency relationship with Sol Strategies.

None of the Foundation or its council members, officers, agents or make any representations or warranties, recommendations, endorsements or promises with respect to the accuracy of any statements made, information provided, or action taken by Sol Strategies and expressly disclaim any and all liability arising from or related to any such statements, information or action.

SOURCE Sol Strategies Inc.

Officer/Director Contact: Doug Harris, Chief Financial Officer, doug@solstrategies.io, Tel: 416-480-2488; SOURCE: Sol Strategies, Media contact: solstrategies@mgroupsc.com

The post Sol Strategies Enters into Definitive Agreement for the Acquisition of High-Performance Validators From Cogent Crypto appeared first on Sol Strategies | TradFi meets Solana.

Leah Wald, CEO of Sol Strategies commented: “Reallocating a portion of our BTC holdings to SOL reflects Sol Strategies’ strategic alignment with Solana’s evolving value proposition within decentralized finance. While Bitcoin remains foundational to the digital asset landscape, we recognize Solana’s growth trajectory and innovative capabilities as uniquely positioned to drive the next phase of blockchain infrastructure.”

About Sol Strategies

Sol Strategies is a publicly traded holding company committed to the continued development of the Solana blockchain and ecosystem through its private equity and financial markets activities. Sol Strategies seeks to take advantage of a range of investment opportunities through staking rewards and investments in Solana-based projects and infrastructure, allowing shareholders to indirectly participate in decentralized finance without the complexities of managing cryptocurrencies. The Company is headquartered in Toronto, Canada, and is publicly listed on the Canadian Securities Exchange under the ticker HODL and on the OTC market under the ticker CYFRF.

To learn more about Sol Strategies, please visit www.solstrategies.io. A copy of this news release and all material documents regarding the Company may be obtained under the Company’s SEDAR+ profile at www.sedarplus.ca.

Cautionary Note Regarding Forward-Looking Information:

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains “forward-looking information” within the meaning of applicable securities laws.

Generally, any statements that are not historical facts may contain forward-looking information and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved”.

Forward-looking statements in this news release include statements regarding the company’s future investing plans and staking plans. There is no assurance that the Company’s plans or objectives will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.

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 forward-looking information. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.

Disclaimer:

Sol Strategies is an independent organization in the Solana ecosystem. Sol Strategies is not affiliated with, owned by, or under common control with Solana Foundation (the “Foundation”), and the Foundation has not entered into any association, partnership, joint venture, employee, or agency relationship with Sol Strategies.

None of the Foundation or its council members, officers, agents or make any representations or warranties, recommendations, endorsements or promises with respect to the accuracy of any statements made, information provided or action taken by Sol Strategies and expressly disclaim any and all liability arising from or related to any such statements, information or action.

The post Sol Strategies Sells Bitcoin, Buys Solana appeared first on Sol Strategies | TradFi meets Solana.

The following is an update on the Company’s financial activities and investment portfolio since its most recent financial disclosure on October 22, 2024:

Letter of Intent to Acquire Validators

On October 21, 2024, the Company entered into a non-binding letter of intent with an arm’s length party (the “Vendor”), pursuant to which the Company will acquire four blockchain validators (the “Validators”) from the Vendor (the “Proposed Transaction”).

The consideration for the Proposed Transaction is as follows:

(i) CAD $1,384,500 (USD $1,000,000) of cash, payable on closing
(ii) CAD $1,384,500 (USD $1,000,000) of Sol Strategies common shares, payable at closing
(iii) CAD $7,614,750 (USD $5,500,000) of Sol Strategies common shares issuable to Vendor over a period of three years from the date of closing, subject to performance targets.

Completion of the Proposed Transaction is subject to customary conditions including, but not limited to:

(i) the Company and the Vendor entering into a definitive agreement
(ii) receipt of all required consents; and
(iii) regulatory approval.

There are no finder’s fees payable in connection with the Proposed Transaction.

Loan Drawdown

On October 23, 2023, the Company drew down USD $2,000,000 (CAD $2,769,000) from its CAD $10,000,000 loan facility (the “Loan Facility”) announced on October 22, 2024. The funds have been transferred to Coinbase Prime and the Company has used the capital to acquire Solana (“SOL”).

Solana Holdings Increase

The Company announced an increase in its SOL holdings to 117,619.10 SOL (CAD $28,632,798) currently held in Coinbase custody, including SOL used for staking. As of the Company’s October 10, 2024, financial update, Sol Strategies held 105,249.82 SOL. The increase of 12,369.28 SOL is mainly due to the acquisition of 12,000 SOL at an average cost of USD $172.81 (CAD $239.25) and 369.28 SOL (CAD $89,896.28) from staking operations. The additional 12,000 SOL has been delegated to the Company’s Solana Validator.

Solana Staking Revenue

Following its commitment to the Solana ecosystem by operating its own SOL validators and generating recurring revenues, the Company has generated gross revenue of 1,944.22 SOL (CAD $473,294 at current SOL prices), with a gross profit of CAD $454,000, since commencing staking on June 14, 2024.

Bitcoin Holdings

The company sold 8.57 bitcoin at an average price of USD $66,369 (CAD $91,947) for gross proceeds of USD $568,783 (CAD $787,991). The Company currently holds 47.67 bitcoin in with a value of approximately CAD $4,501,290.

Purchase of Solana Call Options

On October 24th, 2024, the Company entered into a call option agreement to acquire 8,000 SOL at a strike price of USD $190, which was financed by selling 8,000 SOL put options at a strike price of USD $160. The option agreement expires on December 6, 2024.

Other Investments

The company has private equity/venture capital investments with a book value of approximately CAD $442,000.

Cash
As at the date hereof the Company has approximately CAD $2,393,700 in cash.

Liabilities
As at the date hereof the Company has net liabilities of approximately $80,000.

(1) The above Canadian dollar (CAD) amount is based on cryptocurrency prices rates from Coinbase on October 24, 2024 and F/X rates quoted from the Bank of Canada.

About Sol Strategies

Sol Strategies is a publicly traded holding company committed to the continued development of the Solana blockchain and ecosystem through its private equity and financial markets activities. Sol Strategies seeks to leverage investment opportunities in staking rewards and Solana-based projects, allowing shareholders to indirectly participate in decentralized finance. The Company is headquartered in Toronto, Canada, and is publicly listed on the Canadian Securities Exchange under the ticker HODL and on the OTC market under the ticker CYFRF.

To learn more about Sol Strategies, please visit www.solstrategies.io. A copy of this news release and all the Company’s related material documents regarding the Company change report may be obtained under the Company’s SEDAR+ profile at www.sedarplus.ca.

Cautionary Note Regarding Forward-Looking Information:

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains “forward-looking information” within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved”.

Forward-looking statements in this news release include statements regarding the company’s future investing plans and staking plans. There is no assurance that the Company’s plans or objectives will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.

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 forward-looking information. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.

Disclaimer:
Sol Strategies is an independent organization in the Solana ecosystem. Sol Strategies is not affiliated with, owned by, or under common control with Solana Foundation (the “Foundation”), and the Foundation has not entered into any association, partnership, joint venture, employee, or agency relationship with Sol Strategies.

None of the Foundation or its council members, officers, agents or make any representations or warranties, recommendations, endorsements or promises with respect to the accuracy of any statements made, information provided, or action taken by Sol Strategies and expressly disclaim any and all liability arising from or related to any such statements, information or action.

The post Sol Strategies Announces Letter of Intent to Acquire Validators and Financial Update appeared first on Sol Strategies | TradFi meets Solana.