Sol Strategies closes $30-million private placement

Mr. Michael Hubbard reports SOL STRATEGIES INC. ANNOUNCES CLOSING OF UPSIZED C$30 MILLION LIFE OFFERING Sol Strategies Inc. has closed its previously announced private placement of 4.38 million units of the company at a price of $6.85 per unit for gross proceeds of $30,003,000 pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106, Prospectus Exemptions. Each unit consists of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at an exercise price of $8.90 for a period of 36 months following closing. The LIFE offering was conducted on a best efforts, fully marketed basis by Canaccord Genuity Corp., acting as agent and sole bookrunner. The company paid the agent a cash commission equal to 6.0 per cent of the gross proceeds of the LIFE offering and issued the agent broker warrants in an amount equal to 6.0 per cetn of the number of units sold, which broker warrants are each exercisable to acquire one common share at an exercise price of $8.90 for a period of 36 months following closing. "Our DAT++ strategy has always been about responsibly increasing our treasury while also growing our differentiated revenue generating business. The LIFE offering is the beginning of the next chapter of our growth in strengthening our balance sheet as we continue to expand our solana treasury and validator operations," said Michael Hubbard, interim chief executive officer of Sol Strategies. "We are clear in our vision that a simple digital asset treasury is not enough, it must be paired with a revenue-generating operating business, this is why we are not just a DAT, we're a DAT++." The company intends to use the net proceeds of the offering primarily for the direct purchase of SOL tokens to expand its solana treasury. A portion of these purchases will include locked SOL tokens acquired at a discount to market price, with a 12-month lock period. The remaining proceeds will be for general corporate purposes and working capital. Based on current market prices, the company expects the net proceeds will enable the addition of over 90,000 SOL tokens to its treasury, all of which will be delegated to the company's validators, thereby generating additional staking rewards for the company. If all warrants are exercised, the company would receive additional gross proceeds of approximately $38.9-million, providing further capital for SOL treasury expansion and general corporate purposes. Key terms summary: Units sold: 4.38 million units at $6.85 per unit; Gross proceeds: $30,003,000; Warrant terms: exercisable at $8.90 for 36 months; Maximum additional proceeds: $38.9-million if all warrants exercised; Primary use: SOL token purchases for treasury expansion, and general corporate or working capital purposes; Lock-up: directors and senior management enter into voluntary lock-up agreement. About Sol Strategies Inc. Sol Strategies is a Canadian investment company that operates at the forefront of blockchain innovation and pursues a DAT++ strategy, which combines the company's digital asset strategy of acquiring a treasury of solana with the company's revenue generating validator business line. Specializing in the solana ecosystem, the company also provides strategic investments and infrastructure solutions to enable the next generation of decentralized applications. We seek Safe Harbor.