SOL Global Announces Strategic Change with Investment Focus in Solana

The Company Rebrands Investment Subsidiary 'SOL Focused Investments LLC'

Toronto, Ontario--(Newsfile Corp. - November 4, 2024) - SOL Global Investments Corp. (CSE: SOL) (OTC Pink: SOLCF) (FSE: 9SB) ("SOL" or "the Company") today announced a strategic shift by its wholly-owned subsidiary to primarily focus on investing in the Solana blockchain network following its successful exit from Core Scientific Inc. Through Solana's efficient and scalable network, SOL Global aims to harness growth in decentralized finance and next-generation applications as part of Solana's commitment to advancing innovation and enhancing digital capabilities.

The company has changed the name of its main investing wholly-owned subsidiary 'SOL Verano Blocker 1 LLC' to 'SOL Focused Investments LLC', which will concentrate on investing directly in Solana Blockchain and Solana derived technologies in order to capitalize on the technology's growth. SOL Global will continue working on a few core assets, while the remaining investments will be sold or wound down in order to focus directly on this initiative. SOL Global's strategic move underscores its dedication to advancing in the blockchain ecosystem and AI technologies, driving growth across evolving sectors.

"We're excited to make this strategic investment in Solana, a blockchain platform with the speed, scalability, and security that aligns with our vision of the future," said Paul Kania, CFO and Interim CEO of SOL. "Our investment research found that the Solana network provides us with that greatest opportunity for growth."

SOL Global's portfolio demonstrates a successful track record in digital assets. Along with Core Scientific, SOL's investment in Tokenise International Inc., a leader in regulated tokenized security exchanges, led to a successful acquisition by VERO Labs in 2023, enhancing creator and fan engagement. SOL also invested in Bitbuy, a Canadian cryptocurrency marketplace acquired by WonderFi, strengthening SOL's foothold in crypto exchanges and marketplaces.

Further diversifying its digital assets, SOL Global invested in Build A Rocket Boy Ltd. (BARB), an independent game studio founded by Leslie Benzies. BARB's flagship game, Everywhere, introduces an immersive metaverse blending user-generated content and virtual worlds. Supported by recent Series D funding, BARB exemplifies SOL Global's commitment to fostering innovation in digital experiences.