12:04 PM EST, 02/05/2025 (MT Newswires) -- SOL Global Investments ( SOLCF ) on Wednesday said it received the second advance in full, under its previously closed fully subscribed $4-million private placement offering of units announced on Jan. 21.

Subscribers under the offering had agreed to buy $4 million of units under their subscription agreements, in four equal advances of $1 million each, with the third and fourth advances expected to be advanced to the company on Feb. 18, and March 4, respectively.

Each unit consists of one $1,000 principal amount unsecured convertible debenture, and 1,818 share purchase warrants.

SOL Global intends to use 75% of proceeds to buy Solana Tokens at prevailing market prices through reputable cryptocurrency exchanges and the remaining proceeds for working capital and general corporate purposes.

Shares of the company were last seen down $0.025, or 7%, at $0.32 on the Canadian Securities Exchange.

Price: 0.32, Change: -0.03, Percent Change: -7.25