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

Toronto, Ontario--(Newsfile Corp. - October 1, 2025) - SOL Strategies Inc. (CSE: HODL) (NASDAQ: STKE) ("SOL Strategies" or the "Company"), the first publicly traded company to combine a substantial Solana treasury with a revenue-generating validator operating business, today announced the closing of its previously announced private placement of 4,380,000 units of the Company (the "Units") at a price of C$6.85 per Unit for gross proceeds of C$30,003,000 pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions (the "LIFE Offering").

Each Unit consists of one common share of the Company (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one Common Share at an exercise price of C$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 "Agent"). The Company paid the Agent a cash commission equal to 6.0% of the gross proceeds of the LIFE Offering and issued the Agent broker warrants in an amount equal to 6.0% of the number of Units sold, which broker warrants are each exercisable to acquire one Common Share at an exercise price of C$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 CEO 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 80,000 SOL tokens to its treasury, all of which will be delegated to the Company's validators, thereby generating additional staking rewards for the Company.