Publicly traded company Sol Strategies has announced the completion of a CA$27.5 million private placement financing, with the funds to be used to expand the SOL reserve.

BlockBeats News, January 9th, Canadian listed company Sol Strategies Inc. (CSE: HODL) announced the completion of a CAD 27.5 million private placement, fully subscribed by ParaFi Capital. The funds will be used to expand SOL reserves, grow the validator business, and support day-to-day operations.

This financing includes convertible debenture units, with each unit consisting of CAD 1,000 face value convertible debentures and 400 warrants, carrying a 2.5% annual interest rate. The conversion price and warrant exercise price are both CAD 2.50 per share. The convertible debentures can be redeemed at 112% of face value plus accrued interest after three years, with the settlement expected to be completed on January 16, 2025.