SOL Strategies Announces Filing of Corrective Disclosure

Executive Summary

• SOL Strategies Inc. has refiled its interim unaudited condensed financial statements for the three and nine months ended June 30, 2025, and 2024 (Q3 Financial Statements) to correct errors identified by its auditor, Davidson and Company LLP.
• The refiling was initiated in connection with a review by the Ontario Securities Commission (OSC) regarding the Company's prospectus, and the Company will be placed on the public list of Refiling and Errors in accordance with OSC Staff Notice 51-711.
• The restatement involves significant reclassifications of convertible debentures between debt, equity, and deferred tax liabilities, as well as the retrospective application of a share consolidation.

Key Details

• Refiling Scope: Interim unaudited condensed financial statements for the three and nine months ended June 30, 2025, and 2024.
• Reason for Refiling: Correction of errors identified during the audit by Davidson and Company LLP; triggered by an Ontario Securities Commission (OSC) review of the Company's prospectus.
• Specific Financial Adjustments:
  • Reclassification of $23,588,748 of convertible debentures from long-term debt to current debt.
  • Re-allocation of $1,414,943 of convertible debentures from the liability component to equity within reserves.
  • Classification of $5,625,273 as a deferred tax liability.
  • Impact of $20,156 on profit and loss due to accretion changes resulting from the restatements.
• Share Structure Adjustment: Retrospective recognition of the share consolidation dated August 5, 2025, requiring all common shares and per-share amounts to be restated to give retroactive effect to the consolidation.
• Regulatory Status: The Company is issuing this release in accordance with OSC Staff Notice 51-711 (Revised) and will be added to the public list of Refiling and Errors.

Notable Quotes

• No direct quotes from the CEO or President were included in the source text.