SOL Strategies Inc. Announces Closing of Upsized C$30 Million LIFE Offering

Executive Summary

• SOL Strategies closed a private placement of 4,380,000 units at C$6.85 per unit, raising gross proceeds of C$30.0 million.
• Proceeds will be used primarily to purchase additional SOL tokens for the company’s treasury and for general corporate purposes.
• If all warrants are exercised, the company could receive up to an additional C$38.9 million in gross proceeds.

Key Details

• Units Sold: 4,380,000 units (each unit = 1 common share + 1 warrant).
• Price per Unit: C$6.85.
• Gross Proceeds from Offering: C$30,003,000.
• Warrant Terms: Exercise price C$8.90 per share; exercisable for 36 months after closing.
• Agent & Bookrunner: Canaccord Genuity Corp.; paid a cash commission of 6.0% of gross proceeds and received broker warrants equal to 6.0% of units sold (same exercise terms).
• Use of Proceeds:
• Primary: Direct purchase of SOL tokens to expand the Solana treasury, including locked‑up tokens acquired at a discount with a 12‑month lock period.
• Secondary: General corporate purposes and working capital.
• Expected Treasury Expansion: Net proceeds expected to add >90,000 SOL tokens to the treasury, all delegated to company validators for staking rewards.
• Maximum Additional Proceeds: Approximately C$38.9 million if all warrants are exercised.
• Lock‑Up Agreement: Directors and senior management entered a voluntary lock‑up agreement.
• Regulatory Note: Shares and warrants not registered under the U.S. Securities Act; may only be offered in the U.S. pursuant to an exemption.

Notable Quotes

“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,” – Michael Hubbard, Interim CEO, SOL Strategies.