TORONTO–(BUSINESS WIRE)–SOL Global Investments Corp. (“SOL Global” or the “Company“) (CSE: SOL) (OTCPK: SOLCF) (Frankfurt: 9SB) is pleased to announce that Mr. Olivier Centner has been appointed as a director of the Company. In connection with the appointment of Mr. Centner, Mr. Roger Rai has resigned as a director of the Company to pursue other business opportunities.
“On behalf of the Board and management team, we would like to thank Roger for his service and wish him the best in his future endeavours”, said interim CEO and Chief Investment Officer, Andy DeFrancesco.
Mr. Centner’s appointment as a director is subject to the approval of the Canadian Securities Exchange.
Grant of Deferred Share Units
The Company also announces the grant of an aggregate of 200,000 deferred share units (“DSUs”) of the Company to the Chief Financial Officer, Mr. Paul Kania, and to Ms. Arena Johanna Acosta and Mr. Centner, as members of the board of directors (the “Board”), in connection with their recent appointments to the Company. The DSUs have been granted pursuant to the terms and subject to the conditions of the Company’s DSU Plan, as amended. The DSUs may be settled in cash or common shares in the capital of the Company, at the sole discretion of the Board. Any common shares issued in settlement of vested DSUs will be subject to a stock exchange hold period that will expire four months and a day from the issue date of the DSUs.
The Company’s securities have not been and will not be registered under the U.S. Securities Act and may not be offered or sold in the United States or to a U.S. Person absent registration or an applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About SOL Global Investments Corp.:
SOL Global is a diversified investment and private equity holding company engaged in the small and mid-cap sectors. Our investment partnerships range from minority positions to large strategic holdings with active advisory mandates. SOL Global’s seven primary business segments include Retail, Agriculture, QSR & Hospitality, Media Technology & Gaming, Energy, and New Age Wellness.
This press release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy. The forward-looking information contained herein includes the receipt of approval of the Canadian Securities Exchange for the appointment of Olivier Centner as a director of the Corporation and the future settlement of the DSUs in cash or common shares in the capital of the Company.
By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release including, without limitation: general economic, market or business conditions; future litigation; any failure on the part of the Company to execute its strategic plans; and any further impacts to the business and operations of the Company as a result of the COVID-19 epidemic.
Other risk factors include, but are not limited to: the Company’s ability to comply with all applicable governmental regulations in a highly regulated business; investing in target companies or projects which have limited or no operating history or are engaged in activities currently considered illegal under US federal laws; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; inconsistent public opinion and perception regarding the medical-use and adult-use marijuana industry; and regulatory or political change. Additional risk factors can also be found in the Company’s continuous disclosure documents which have been filed on SEDAR and can be accessed at www.sedar.com.
Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.