SOL Strategies Inc. HODL (OTCQX: CYFRF) Announces Landmark Convertible Note Facility of Up to $500 Million to Expand SOL Token Holdings

TORONTO, May 1, 2025, /notre temps/ -- SOL Strategies Inc. (OTCQX:CYFRF) (TSXV:SOL) (PAYER:C87M.DE) (formerly, Cypherpunk Holdings Inc, "Sol Strategies" or the "Company"), a Canadian company focused on investing in and providing infrastructure for the Solana blockchain ecosystem, provided its monthly corporate update for April 2025 and announced the date for its upcoming quarterly financial results.

April 2025 Key Highlights

Sol Strategies secured a major facility of up to $500 million to accelerate SOL token acquisitions, expanded key validator partnerships, launched new infrastructure and consumer products, and saw increased institutional exposure with the Company's inclusion in ETF portfolios. The Company continues to strengthen its leadership position as the premier Solana-focused infrastructure platform.

Management Commentary

Leah Wald, CEO of Sol Strategies, commented:

"Our progress in April reflects the momentum behind our strategy. From securing a landmark facility of up to $500 million to expanding key validator relationships and deepening technical integrations, we're building a foundation for long-term leadership in institutional Solana staking."

AIF Filing

Sol Strategies' latest Annual Information Form (AIF) has been filed and is now available on SEDAR+.

You can view it here.

Corporate Developments

Sol Strategies Secures Up to USD $500 Million Convertible Note Facility with ATW Partners to Expand SOL Holdings

On April 23, 2025, Sol Strategies announced a landmark convertible note facility of up to $500 million with an affiliate of ATW Partners, in a financing structure designed to support the acquisition and staking of Solana (SOL) tokens.

The notes will be issued in the aggregate principal amount of $20 million as an initial tranche on or about May 1, 2025, with additional capacity of up to $480 million available in follow-on drawdowns, subject to certain conditions.

Proceeds will be used to purchase SOL tokens, which will be staked on validators operated by Sol Strategies, with staking yield shared with investors. This structure is expected to strengthen the Company's validator business and generate immediate yield.

The formation of this partnership builds on ATW Partners' experience in providing capital to private companies and opportunistic credit. The notes will be convertible into common shares of the Company at a price per share of $4.20, and are subject to customary terms and conditions.

This financing initiative is a significant milestone for Sol Strategies as it provides the Company with flexible capital to expand its core SOL holdings, aiming to generate incremental revenue streams and enhance overall shareholder value.

The Company's shares are currently trading on the OTCQX Best Market in the U.S. under the ticker symbol CYFRF and on the Canadian Exchange in Canada under the ticker symbol SOL. They are also traded on the Frankfurt Exchange.

The placement agent for the convertible note offering is Beacon Securities Corporation.

The notes will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption therefrom.

This news release shall not constitute an offer to sell or a solicitation of an offer to buy any of the notes or common shares in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.

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त्रमासिक वित्तीय परिणाम

Sol Strategies will release its financial results for the second quarter of fiscal year 2025 on Friday, May 30, 2025. CEO Leah Wald, CFO Doug Harris, and CTO Max Kaplan will host a webcast and conference call the following Monday, after market close.

Event: SOL Strategies, Inc. Second Quarter 2025 Financial Results Webcast and Conference Call

Webcast Date: Monday, June 2, 2025, at 4:30 PM ET

Live Call: (800) 245-3047 (U.S.) or (203) 518-9765 (International), Conference ID: SOLQ225

Webcast Link: https://event.on24.com/wcc/r/4950255/BFBCE094E7089059DF9190FE5FD69DC4

Investors, analysts, and stakeholders are invited to attend the call to listen in on the Company's recent milestones and growth outlook.

A replay will be available shortly after the event at