An anonymous director reports

SOL GLOBAL'S CBD AND HEMP PORTFOLIO COMPANY, HEAVENLY RX, CLOSES PRIVATE PLACEMENT FINANCING OF OVER $12 MILLION

SOL Global Investments Corp. has completed multiple tranches of a non-brokered private placement financing of common shares of its subsidiary, Heavenly Rx Ltd., for aggregate gross proceeds of $12,586,250. In total, 125,862,500 common shares in the capital of Heavenly Rx were issued and sold at a price of 10 cents per Heavenly share. As a result of this financing, SOL Global now holds 34.4 per cent of the issued and outstanding Heavenly shares, with the subscribers from the offering collectively holding the remaining 65.6 per cent. The Heavenly shares were sold to accredited investors, pursuant to applicable securities regulations, and are subject to an indefinite hold period.

The proceeds from the offering are intended to be used by Heavenly Rx to acquire significant or controlling ownership interests in various industry-leading assets in the hemp/cannabidiol and tetrahydrocannabinol-free cannabinoid wellness space, with a focus on hemp cultivation, processing and the manufacturing of a diverse range of traditional cannabidiol products, including oils, tinctures, balms and vape-ready products. Heavenly Rx will also own and operate its own retail locations, along with health-and-wellness-related studios, where it will generate a repetitive captive audience with a desire for Heavenly Rx's products to be part of its customers' daily routine. It is expected that Heavenly Rx's portfolio will include several proprietary brands across numerous consumer product group verticals, such as bath and body products, cosmetics and beauty products, and infused foods.

Certain senior officers of the company and of Heavenly Rx participated in the offering, subscribing for a total of 1.5 million Heavenly shares for an aggregate amount of $150,000. The participation of such insiders in the offering constituted a related party transaction, as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions, but is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities issued to the insiders nor the consideration paid by the insiders exceeded 25 per cent of the company's market capitalization.

Furthermore, certain current and former family members of SOL's chief investment officer independently participated, directly and indirectly, in the offering for aggregate gross proceeds of $550,000. Such participation in the offering did not constitute a related party transaction within the meaning of MI 61-101.

About SOL Global Investments Corp.

SOL Global is an international investment company with a focus on, but not limited to, cannabis and cannabis-related companies in legal U.S. states, the hemp and cannabidiol marketplaces, and the emerging European cannabis and hemp marketplaces. Its strategic investments and partnerships across cultivation, distribution and retail complement the company's R&D (research and development) program with the University of Miami. It is this comprehensive approach that is positioning SOL Global as a future front-runner in the United States' medical cannabis industry.

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