Board Change • Apr 04
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Director Jason Batista is the most experienced director on the board, commencing their role in 2023. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 07
ETI Gida Sanayi ve Ticaret A.S. completed the acquisition of TRUBAR Inc. (TSXV:TRBR). ETI Gida Sanayi ve Ticaret A.S. entered into an arrangement agreement to acquire TRUBAR Inc. (TSXV:TRBR) for approximately CAD 180 million on November 23, 2025. Under the terms of the Arrangement Agreement, each shareholder will receive CAD 1.64 per Common Share in cash. Following completion of the Arrangement, the Common Shares will be delisted from the TSXV. In case of termination of transaction, TRUBAR will pay a termination fee of CAD 7.06 million ($5 million).
The transaction is subject to approval of merger agreement by TRUBAR board and shareholders and subject to court approval. The Board of Directors of TRUBAR Inc. formed a special committee for the transaction. The deal has been unanimously approved by the TRUBAR board. The transaction is expected to be completed in the first quarter of 2026. As of January 13, 2026 Trubar. securityholders approve a going private transaction. On January 16, 2026, TRUBAR Inc. announced that the it has obtained a final order from the Supreme Court of British Columbia approving the previously announced plan of arrangement involving 1564128 B.C. Unlimited Liability Company, an affiliate of ETI Gida Sanayi ve Ticaret A.S., pursuant to which, among other things, the ETI will acquire all of the issued and outstanding shares in the capital of the Company. Receipt of the final order will allow TRUBAR to complete the Arrangement, which the parties anticipate completing in the coming weeks upon the completion of the parties closing procedures. On February 3, 2026, it was announced that all conditions precedent to the completion of the Arrangement have been satisfied, except for those conditions precedent that, by their nature, are only capable of being satisfied as of the effective date. The completion of the Arrangement is anticipated to occur on the business day following the deposit of funds required to satisfy the aggregate consideration payable by the Purchaser with the depositary and paying agent in accordance with the Arrangement, which parties anticipate will occur on or about February 5, 2026.
MNP LLP acted as financial advisor and fairness opinion provider for TRUBAR Inc and its special committee. Norton Rose Fulbright Canada LLP acted as legal advisor for TRUBAR Inc and its special committee. Clarus Securities Inc. acted as financial advisor for TRUBAR Inc and its special committee. Timothy Kincaid of Winston & Strawn LLP, and Mario Nigro and John Lee of Stikeman Elliott LLP acted as legal advisors for ETI Gida Sanayi ve Ticaret A.S.
ETI Gida Sanayi ve Ticaret A.S. completed the acquisition of TRUBAR Inc. (TSXV:TRBR) on February 6, 2026. The TRUBAR Common Shares are expected to be delisted from the TSX Venture Exchange at the close of business on or about February 9, 2026. Announcement • Jan 21
SOL Global Investments Corp., Annual General Meeting, Mar 31, 2026 SOL Global Investments Corp., Annual General Meeting, Mar 31, 2026. Announcement • Nov 25
ETI Gida Sanayi ve Ticaret A.S. entered into a definitive agreement to acquire TRUBAR Inc. (TSXV:TRBR) for approximately CAD 180 million. ETI Gida Sanayi ve Ticaret A.S. entered into a definitive agreement to acquire TRUBAR Inc. (TSXV:TRBR) for approximately CAD 180 million on November 23, 2025. Under the terms of the Arrangement Agreement, each shareholder will receive CAD 1.64 per Common Share in cash. Following completion of the Arrangement, the Common Shares will be delisted from the TSXV. In case of termination of transaction, TRUBAR will pay a termination fee of CAD 7.06 million ($5 million).
The transaction is subject to approval of merger agreement by TRUBAR board and shareholders and subject to court approval. The Board of Directors of TRUBAR Inc. formed a special committee for the transaction. The deal has been unanimously approved by the TRUBAR board. The transaction is expected to be completed in the first quarter of 2026.
MNP LLP acted as financial advisor and fairness opinion provider for TRUBAR Inc and its special committee. Norton Rose Fulbright Canada LLP acted as legal advisor for TRUBAR Inc and its special committee. Clarus Securities Inc. acted as financial advisor for TRUBAR Inc and its special committee. Winston & Strawn LLP and Stikeman Elliott LLP acted as legal advisor for ETI Gida Sanayi ve Ticaret A.S. New Risk • Nov 18
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 20% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 35% per year over the past 5 years. Shareholders have been substantially diluted in the past year (322% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$8.05m market cap, or US$5.76m). Announcement • Jun 13
SOL Global Investments Corp. Announces Chief Financial Officer Changes, Effective June 12, 2025 SOL Global Investments Corp. announced the appointment of Mr. Pad Gopal, CPA, as Chief Financial Officer, effective immediately. This appointment follows the resignation of Mr. Paul Kania, who will continue to support the Company in the role of strategic advisor. Mr. Gopal has been a key member of the SOL Global finance team for the past seven years, beginning as Controller and most recently serving as Vice President of Finance. A seasoned financial professional with more than 18 years of experience in various roles with Canadian public companies across several industries, Mr. Gopal brings institutional knowledge and financial leadership to his new role. He holds a Bachelor of Applied Business in Accounting and Finance and is a Certified Public Accountant. Mr. Kania, who has served as the Company's Chief Financial Officer since May 20, 2020, was instrumental in guiding the Company's financial strategy through a period of strategic reorganization and the transition toward a digital asset-focused investment approach. He will continue to support SOL Global as a strategic advisor, offering ongoing insight and counsel to the executive team. Announcement • Jun 05
SOL Global Investments Corp. Announces Chief Executive Officer Changes SOL Global Investments Corp. announced the appointment of Davide Marcotti as its new Chief Executive Officer, effective immediately. Mr. Marcotti replaces interim CEO Paul Kania, who will resume his role as Chief Financial Officer. Mr. Marcotti, former CEO of Swyke, an institutional-grade crypto infrastructure business securing over $300 million in assets under staking, brings over a decade of global experience in strategy, digital transformation, and high-impact leadership. His background spans capital markets, Web3 infrastructure, and AI-enabled platforms, making him uniquely positioned to lead SOL Global into its next phase of growth and deepen its exposure to decentralized technologies and next-generation digital assets. New Risk • Jun 01
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.3m (US$9.72m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (29% average weekly change). Earnings have declined by 42% per year over the past 5 years. Shareholders have been substantially diluted in the past year (206% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$13.3m market cap, or US$9.72m). New Risk • Apr 01
New major risk - Negative shareholders equity The company has negative equity. Total equity: -CA$37m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (23% average weekly change). Negative equity (-CA$37m). Earnings have declined by 28% per year over the past 5 years. Shareholders have been substantially diluted in the past year (173% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$12.6m market cap, or US$8.82m). New Risk • Mar 30
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.4m (US$9.34m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (23% average weekly change). Earnings have declined by 19% per year over the past 5 years. Shareholders have been substantially diluted in the past year (173% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$13.4m market cap, or US$9.34m). Announcement • Mar 05
SOL Global Investments Corp. announced that it has received CAD 4 million in funding On March 5, 2025, SOL Global Investments Corp. closed the transaction. The company issued 1,000 Units of the Company at a price of CAD 1,000 per Unit for aggregate gross proceeds to the Company of CAD 1,000,000 in its final tranche. In connection with the Final Advance, the Company has paid the Agents a cash fee of CAD 52,500, representing an amount equal to 7% of the aggregate gross advance of the Final Advance. Announcement • Feb 14
SOL Global Investments Corp. announced that it has received CAD 10 million in funding On February 13, 2025. SOL Global Investments Corp. has closed the transaction. Announcement • Jan 23
SOL Global Investments Corp. announced that it expects to receive CAD 10 million in funding SOL Global Investments Corp. announced that it has entered into a binding letter of intent to issue unsecured convertible debenture with a principal amount of CAD 10,000,000 for gross proceeds of CAD 10,000,000 on January 22, 2025. The Convertible Debenture will be convertible into units of the Company at a conversion price of CAD 0.50 per unit, such that each unit shall include one common share of the Company and one-half warrant whereby a full warrant is exercisable for an additional Common Share for a period of 12 months at an exercise price of CAD 0.65. The holder of the Debenture shall be entitled to a 2.5% set up fee of CAD 250,000, to be settled by the reduction of the amount payable under the initial advance.. The Debenture will mature 24 months from the date of issue and shall be subject to a 10% interest rate, payable in cash at the time of each advance and at maturity. The LOI is a binding commitment of the purchaser and the transaction is expected to close on or before January 30, 2025. The transaction is subject to the receipt of all necessary regulatory and other approvals, and is subject to the policies of the Canadian Securities Exchange. All Common Shares and Warrants issued pursuant to the Offering are subject to a hold period of four months plus one day from the date of issuance of such securities under applicable securities laws in Canada. Announcement • Dec 24
SOL Global Investments Corp. announced that it expects to receive CAD 4 million in funding SOL Global Investments Corp. announced that it has entered into an agreement with Canaccord Genuity Corp. and Clarus Securities Inc. , on behalf of a syndicate of agents to sell on a best efforts private placement basis up to 4,000 convertible debentures of the Company at a price of CAD 1,000 per Unit for aggregate gross proceeds of up to CAD 4,000,000 on December 23, 2024. The Agents will have an option to arrange for the sale of up to an additional 15% of Units, exercisable in whole or in part in the sole discretion of the Co-Lead Agents. Each Unit shall be comprised of CAD 1,000 principal amount unsecured convertible debenture of the Company and 1,818 common share purchase warrants of the Company. Each Convertible Debenture will be convertible into common shares of the Company at the option of the holder at any time prior to the close of business on the earlier of the first anniversary of the closing of the Offering and the business day immediately preceding the date fixed for redemption of the Convertible Debentures by the Company pursuant to the terms of the Convertible Debentures at a conversion price of CAD 0.40 per Common Share. Each Warrant shall entitle the holder to purchase one Common Share at the exercise price of CAD 0.55 per Common Share for a period of 12 months following the closing of the Offering. The Offering is scheduled to close on or about January 9, 2025 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the Exchange. All Convertible Debentures and Warrants issued pursuant to the Offering are subject to a hold period of four months plus one day from the date of issuance of such securities under applicable securities laws in Canada. Announcement • Dec 17
SOL Global Investments Corp., Annual General Meeting, Feb 21, 2025 SOL Global Investments Corp., Annual General Meeting, Feb 21, 2025. New Risk • Dec 13
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 115% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (42% average weekly change). Earnings have declined by 19% per year over the past 5 years. Shareholders have been substantially diluted in the past year (115% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$44.6m market cap, or US$31.3m). New Risk • Dec 05
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 33% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (42% average weekly change). Earnings have declined by 19% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (33% increase in shares outstanding). Market cap is less than US$100m (CA$19.2m market cap, or US$13.7m). Announcement • Dec 03
SOL Global Investments Corp. announced that it has received CAD 3.6 million in funding On December 3, 2024, SOL Global Investments Corp., closed the transaction. Announcement • Nov 20
SOL Global Investments Corp. announced that it expects to receive CAD 3.6 million in funding SOL Global Investments Corp. announced that it has entered into an agreement with Canaccord Genuity Corp. and Clarus Securities Inc., as co-lead agents and co-bookrunners on November 18, 2024. The company will issue 18,000,000 units at an issue price of CAD 0.2 per unit for gross proceeds of CAD 3,600,000. Each unit will consist of one common share and one-half common share purchase warrant. Each warrant will be exercisable to acquire one additional common share at an exercise price of CAD 0.3 per warrant share for a period of 24 months from the closing date. The company has agreed to pay the agents a cash commission equal to 7% of the gross proceeds of the offering, other than from the sale to certain purchasers designated by the company, for which a 3% agents' commission will be payable. The company has also agreed to issue to the agents such number of compensation warrants equal to 7% of the number of units sold under the offering, other than from the sale to president's list purchasers, for which the number of agents' warrants will be 3% of the number of units sold. Each agent's warrant is exercisable to purchase one unit of the company at a price of CAD 0.2 for a period of 24 months following the closing date. The offering is scheduled to close on or about December 3, 2024. The Agents Warrants, including the underlying securities, will be subject to applicable statutory hold periods pursuant to Canadian securities laws. Announcement • Nov 16
Grafiti Holding Inc. acquired Damon Motors Inc for US $300million. Grafiti Holding Inc. agreed to acquire Damon Motors Inc. June 24, 2024. The common shares of Damon Inc. are expected to begin trading under the ticker symbol “ DMN ” on the Nasdaq Global Market on November 18, 2024, with CUSIP number 235750106. The transaction is currently expected to close in the coming months, subject to obtaining the necessary regulatory approvals and satisfaction of other closing conditions described below and in its filings with the Securities and Exchange Commission. Upon the completion of the BCA, the combined company expects to list on the Nasdaq Stock Market under the ticker symbol DMN, subject to the approval of an initial listing application which has also been submitted to Nasdaq. Norton Rose Fulbright US LLP and Norton Rose Fulbright Canada LLP acted as legal advisor to Grafiti Holding Inc. Gowling WLG (Canada) LLP and Dorsey & Whitney LLP acted as legal advisor to Damon Motors Inc.
Grafiti Holding Inc. completed the acquisition of Damon Motors Inc. FOR US $300millionon November 14, 2024. Based upon the merger consideration issued to holders of Damon Motors securities in the transaction and the understanding of the parties, the fully diluted pro-forma equity value of the combined company is approximately US$300 million, resulting in a per share price of approximately US$12.00. In connection with the Business Combination, Grafiti has been renamed Damon Inc., Damon Motors has become a wholly-owned subsidiary of Damon Inc., and Damon Inc. has been approved for Direct Listing on the Nasdaq Global Market. Maxim Group LLC acted as exclusive financial advisor to Grafiti Holding Inc. Recent Insider Transactions • Mar 21
Insider recently sold CA$96k worth of stock On the 18th of March, Andrew DeFrancesco sold around 210k shares on-market at roughly CA$0.46 per share. This transaction amounted to 2.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$181k more than they bought in the last 12 months. Board Change • Feb 01
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. VP & Director Deena Siblock is the most experienced director on the board, commencing their role in 2023. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 26
Waterrower Inc. acquired CITYROW Holdings Inc. Waterrower Inc. acquired CITYROW Holdings Inc. on January 25, 2024.Waterrower Inc. completed the acquisition of CITYROW Holdings Inc. on January 25, 2024. Announcement • Jan 25
SOL Global Investments Corp., Annual General Meeting, Feb 23, 2024 SOL Global Investments Corp., Annual General Meeting, Feb 23, 2024, at 14:00 US Eastern Standard Time. Agenda: To place before the Meeting the consolidated audited financial statements of the Corporation as at and for the financial years ended November 30, 2022, and 2021 and the auditor's report thereon; to setting the size of the board of directors of the Company at four; to electing the Company's board of directors for the ensuing year; to appointing Zeifmans LLP as auditor for the ensuing year and to authorize the directors to fix the auditor's remuneration; to re-approving the Company's Deferred Share Unit Plan; and to approve other items of business that may be properly brought before the Meeting. New Risk • Jan 16
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 19% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$3.6m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 30% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$4.90m market cap, or US$3.65m). New Risk • Oct 27
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$3.6m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$3.6m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 30% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$11.2m market cap, or US$8.05m). Board Change • Jul 01
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. VP & Director Deena Siblock is the most experienced director on the board, commencing their role in 2023. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 08
SOL Global Investments Corp. Announces Board Changes SOL Global Investments Corp. announced that the board of directors of the Company has appointed Jason Batista to the board to replace Arena Prado-Acosta, who has resigned from the board. Mr. Jason Batista is a highly experienced and commercially astute financial services professional with over 15 years of experience in banking and investment management, combined with corporate development, corporate communications, and commercial strategy. Certified Chartered Investment Manager; he is currently President of TBJ Consulting which provides a suite of services including corporate development, investment management, and investor relations. Mr. Batista will serve as a member of the Audit Committee. Announcement • May 04
SOL Global Investments Corp. (CNSX:SOL) acquired Three properties in the Wynwood. SOL Global Investments Corp. (CNSX:SOL) acquired Three properties in the Wynwood effective February 28,2023. Announcement • Jan 06
An unknown buyer acquired a 8% stake in Captor Capital Corp. (CNSX:CPTR) from SOL Global Investments Corp. (CNSX:SOL) for CAD 1.7 million. An unknown buyer acquired a 8% stake in Captor Capital Corp. (CNSX:CPTR) from SOL Global Investments Corp. (CNSX:SOL) for CAD 1.7 million on January 3, 2022. As a part of transaction, SOL transferred and divested an aggregate of 4,182,316 common shares of Captor and received investment securities with an aggregate deemed value of CAD 1.7 million in consideration. As a result, SOL's holding percentage of Captor Shares was reduced from 17.9% to 9.9% on a non-diluted bases, representing a decrease of 8.0%.
An unknown buyer completed the acquisition of a 8% stake in Captor Capital Corp. (CNSX:CPTR) from SOL Global Investments Corp. (CNSX:SOL) on January 3, 2022. Board Change • Nov 17
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. 3 experienced directors. No highly experienced directors. Independent Director Arena Prado-Acosta is the most experienced director on the board, commencing their role in 2020. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 01
SOL Global Investments Corp. Provides Earnings Guidance for the Full Year 2022 SOL Global Investments Corp. provided earnings guidance for the full year 2022. For the period, the company expected consolidated net sales increased to $50 million - $55 million, up from $40 million - $42 million in the first quarter. Announcement • Sep 24
SOL Global Investments Corp., Annual General Meeting, Nov 24, 2022 SOL Global Investments Corp., Annual General Meeting, Nov 24, 2022. Board Change • Apr 27
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. 3 experienced directors. No highly experienced directors. Independent Director Arena Prado-Acosta is the most experienced director on the board, commencing their role in 2020. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 02
SOL Global Investments Corp. to Report Q1, 2022 Results on Apr 30, 2022 SOL Global Investments Corp. announced that they will report Q1, 2022 results on Apr 30, 2022 Announcement • Feb 09
Sol Global Investments Corp. Announces Resignation of Alex Spiro to Board of Directors SOL Global Investments Corp. announced that Mr. Alex Spiro, a director of the Company, has stepped down from the Board of Directors effective February 8, 2022. Announcement • Sep 08
SOL Global Investments Corp. (CNSX:SOL) announces an Equity Buyback for CAD 30 million worth of its shares. SOL Global Investments Corp. (CNSX:SOL) announces a share repurchase program. Under the substantial issuer bid, the company will repurchase up to CAD 30 million worth of its outstanding common shares. The repurchased shares will be cancelled. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improved over the past week After last week's 21% share price gain to CA$4.53, the stock trades at a trailing P/E ratio of 2.5x. Average trailing P/E is 33x in the Pharmaceuticals industry in Canada. Total returns to shareholders of 6.1% over the past three years. Announcement • Mar 03
SOL Global Investments Corp. to Report Fiscal Year 2020 Results on Mar 29, 2021 SOL Global Investments Corp. announced that they will report fiscal year 2020 results After-Market on Mar 29, 2021 Announcement • Feb 26
Investor Files Claim in Ontario Superior Court of Justice Against SOL Global Investments Corp. and Associated Defendants for Breach of Contract 1235 Fund LP announced that it has filed a Claim against SOL Global Investments Corp. ("SOL"), its current Chief Executive Officer and other Defendants seeking more than $550 million in damages, including for breach of contract. The claim, filed in the Commercial List of the Ontario Superior Court of Justice in Toronto, relates to 1235's rights under a Debenture it purchased from SOL in July 2019 for $50 million, following extensive arms-length negotiations between the parties and their respective advisors. As set out in a detailed, 75-page Statement of Claim, it is 1235's position that it was given the option under the Debenture to elect to receive a fixed number of shares in Verano Holdings LLC ("Verano"). The number of shares that 1235 was entitled to receive was determined at the time these arrangements were entered into, and was specified in the Debenture. At the time these arrangements were entered into, Verano was an illiquid, privately-held company in which SOL had a significant ownership stake. In the period since the Debenture arrangements were entered into in 2019, Verano has completed a reverse takeover transaction. SOL participated in that transaction in early February, 2021 and in doing so exchanged its shares in Verano for shares of Verano Holdings Corp. ("New Verano"). New Verano is now listed on the Canadian Securities Exchange. 1235 is of the view that it is entitled to hold SOL to the bargain it accepted when the Debenture arrangements were entered into in 2019, including by exercising the option that 1235 obtained at that time, and by securing the delivery by SOL of shares in New Verano that it obtained in the reverse takeover transaction. 1235 is seeking the Court's intervention because SOL has failed or refused to deliver those shares. Is New 90 Day High Low • Feb 04
New 90-day high: CA$3.65 The company is up 111% from its price of CA$1.73 on 05 November 2020. The Canadian market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is up 70% over the same period. Announcement • Jan 15
Cresco Labs Inc. (CNSX:CL) entered into a definitive agreement to acquire all of the issued and outstanding shares of Bluma Wellness Inc. (CNSX:BWEL.U) for approximately $180 million. Cresco Labs Inc. (CNSX:CL) entered into a definitive agreement to acquire all of the issued and outstanding shares of Bluma Wellness Inc. (CNSX:BWEL.U) for approximately $180 million on January 14, 2021.Under the terms of the Transaction, shareholders of Bluma will receive 0.0859 of a subordinate voting share of Cresco Labs (“Cresco Shares”) for each Bluma Share held (the "Exchange Ratio"), subject to adjustment. The Exchange Ratio implies a price per Bluma Share of approximately $1.12, representing a premium of approximately 29% based on the closing price of Bluma Shares on the CSE as of January 13, 2021. The Transaction will be completed by way of plan of arrangement under the Business Corporations Act (British Columbia). The Exchange Ratio is subject to adjustment in the following circumstances: (i) if the 5-day volume weighted average price of Cresco Shares immediately preceding the 2nd business day prior to the closing of the Transaction (the "Cresco Closing Price") is below $9.99 but greater than $7.00, the Exchange Ratio per Bluma Share will be calculated as $0.86 divided by the Cresco Closing Price; and (ii) if the Cresco Closing Price is less than or equal to $7.00, the Exchange Ratio will be fixed at 0.1229 Cresco Shares for each Bluma Share.
The Transaction is subject to, among other things, the approval of Bluma shareholders at a special meeting (the "Special Meeting"), and receipt of all required CSE, regulatory and court approvals, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act. Based on the advice and recommendation of the Special Committee, the board of directors of Bluma determined that the Transaction is fair to the shareholders of Bluma, that the Transaction is in the best interests of Bluma and unanimously recommends that Bluma shareholders vote in favor of the resolution to approve the Transaction at the Special Meeting. Shareholders of Bluma holding approximately 40% in aggregate of Bluma Shares have executed voting and support agreements in favor of the Transaction. Certain Bluma shareholders will also agree not to transfer a portion of their resulting Cresco Shares for up to an eight-month period following closing of the Transaction. The board of directors of Bluma formed a special committee of independent members (the “Special Committee”) to review and recommend the approval of the Transaction by the board of directors. It is currently anticipated that, subject to receipt of all required approvals, the Transaction will be completed by the start of the second quarter of 2021. Cowen is acting as financial advisor to Cresco Labs and provided a fairness opinion to the Company’s board of directors. Bennett Jones LLP is acting as legal advisor to Cresco Labs. Clarus Securities Inc. and INFOR Financial Inc. are acting as financial advisors to Bluma and each provided a fairness opinion to the board of directors of Bluma. Gowling WLG (Canada) LLP is acting as legal advisor to Bluma. Is New 90 Day High Low • Jan 07
New 90-day high: CA$3.15 The company is up 142% from its price of CA$1.30 on 08 October 2020. The Canadian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is up 61% over the same period. Is New 90 Day High Low • Dec 04
New 90-day high: CA$2.73 The company is up 237% from its price of CA$0.81 on 04 September 2020. The Canadian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is up 48% over the same period. Is New 90 Day High Low • Nov 05
New 90-day high: CA$1.46 The company is up 279% from its price of CA$0.39 on 07 August 2020. The Canadian market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is up 7.0% over the same period. Is New 90 Day High Low • Oct 08
New 90-day high: CA$1.29 The company is up 163% from its price of CA$0.49 on 10 July 2020. The Canadian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is up 2.0% over the same period. Is New 90 Day High Low • Sep 18
New 90-day high: CA$1.02 The company is up 104% from its price of CA$0.50 on 19 June 2020. The Canadian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is up 3.0% over the same period. Announcement • Aug 08
SOL Global Investments Corp. Auditor Raises 'Going Concern' Doubt SOL Global Investments Corp. filed its Annual on May 14, 2020 for the period ending Nov 30, 2019. In this report its auditor, Dale Matheson Carr-Hilton, gave an unqualified opinion expressing doubt that the company can continue as a going concern.