SOL Global Investments Corp, a Canadian-based firm, has launched a CAD 3.6 million offering to purchase additional Solana tokens. The company aims to strengthen its digital asset portfolio and capitalize on Solana growth potential.
The funds raised will be directed towards buying Solana tokens at prevailing market prices. This move is part of SOL Global’s broader strategy to expand its focus on blockchain and cryptocurrency investments.
SOL Global’s Investment Strategy Focuses on SOL Tokens as Key Digital Asset
SOL Global Investments Corp announced plans to raise CAD 3.6 million through a brokered private placement to purchase additional Solana tokens. On November 19, the company revealed that the funds would help expand its digital asset holdings, focusing on increasing its Solana-based investments. This move is part of SOL Global’s broader strategy to capitalize on the growing importance of blockchain technologies and digital assets in its portfolio.
The offering includes up to 18,000,000 units priced at CAD 0.20 per unit. Each unit contains one common share and half of a common share purchase warrant. These warrants are exercisable at C$0.30 per share. The units are offered on a best-efforts basis, with total proceeds expected to reach up to CAD 3.6 million. The shares and warrants will be available in Canada and may also be sold in select offshore jurisdictions.
The offering will close around December 3 this year, pending approval from the Canadian Securities Exchange and other regulatory bodies. This move by SOL Global will increase its investment in Solana tokens, further diversifying its portfolio. It aims to capitalize on the potential growth of Solana, a rapidly developing blockchain in the crypto space.
SOL Token Price Rally Forecast
Solana token is trading at $237, down 3.63% in the last 24 hours. It has surged 14% over the past week and 43% in the last month. The trading volume is $6.63 billion, and the market cap stands at $112 billion. Solana is now the 4th largest cryptocurrency by market cap.
Given these positive movements, experts predict Solana price could rally 800% despite recent gains. Growing institutional interest, especially after SOL Global’s recent investment, could push the price higher. If the trend continues, Solana’s price could soar, fueled by strong market demand and the blockchain’s solid fundamentals.
The post Canada’s SOL Global Raising Millions to Buy Solana Tokens appeared first on CoinGape.
