SOL Global makes a binding commitment to private financing of 10 million Canadian dollar

The Canadian investment fund SOL Global has announced that it has signed a binding letter of intent to sell SOL Global's unsecured convertible bonds, with a principal amount of 10 million Canadian dollars. The funds will be provided in the form of prepayments, i.e., $2 million will be prepaid upon completion of the transaction, and four additional prepayments of $2 million each will be made every 60 days after the transaction is completed.

The letter of intent is a binding commitment to the buyer. This transaction is expected to be completed on or before January 30, 2025, but it must sign a final subscription agreement and satisfy certain customary conditions including but not limited to obtaining all necessary regulatory and other approvals as well as being subject to policies from the Canadian Securities Exchange.