AUSTIN, TX, July 15, 2026 (GLOBE NEWSWIRE) -- Forward Industries, Inc. (NASDAQ: FWDI) (the “Company” or “Forward Industries”), the leading Solana treasury company, today announced the appointment of Michael Ashe, currently Chief Strategy Officer at Galaxy Digital, to its Board of Directors. Mr. Ashe previously served as a board observer and will now join the Board as a director, effective immediately.

With nearly six years at Galaxy, Mr. Ashe has held a wide range of leadership roles including Head of Strategy & Corporate Development and Head of Investment Banking, where he leads the firm’s strategic vision and direction. Prior to Galaxy, Mr. Ashe served as a Director of Investment Banking at Oppenheimer & Co. Inc. for nearly six years, where he advised clients from the firm’s New York office. Mr. Ashe’s career began at Citi, where he spent almost seven years across multiple disciplines including Equity Capital Markets, Structured Finance, and Strategy & Planning, building a well-rounded foundation in financial services. Mr. Ashe holds a Bachelor of Arts in International Studies from The Johns Hopkins University.

“Michael has been a valued voice in our boardroom as an observer, and his appointment as a director reflects the confidence we have in his judgment and expertise as a seasoned veteran in both the crypto industry and the broader finance and technology industries. As Forward continues to grow and scale the largest Solana treasury company, we are fortunate to have his full participation in guiding the Company’s strategy and governance.” said Kyle Samani, Chairman of the Board of Forward Industries.

About Forward Industries, Inc.

Forward Industries, Inc. (NASDAQ: FWDI) is a Solana focused digital asset treasury company, with the strategy to buy, hold, stake, trade, invest in, and grow SOL and SOL related digital assets, protocols and businesses. Forward’s mission is to expand and strengthen the Solana ecosystem by acquiring and staking SOL and engaging with, providing tools to and investing in the Solana network, Solana developers and Solana related projects in order to increase shareholder value. In connection with a private placement transaction in September 2025, Forward launched a digital asset treasury strategy supported by industry leading investors and operating partners including Galaxy Digital and Jump Crypto. For more information on the Company’s Solana treasury strategy, visit www.forwardindustries.com.

Forward Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. These forward-looking statements address various matters including statements relating to the Company’s future growth and scaling. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, failure to realize the anticipated benefits of the digital asset treasury strategy (including the at-the-market equity offering program and the share repurchase program); changes in business, market, financial, political and regulatory conditions; risks relating to the Company’s operations and business, including the highly volatile nature of the price of Solana and other cryptocurrencies; the risk that the price of the Company’s common stock may be highly correlated to the price of the digital assets that it holds; risks related to increased competition in the industries and markets in which the Company does and will operate (including the applicable digital assets market); risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; risks relating to the treatment of crypto assets for U.S. and foreign tax purposes, as well as those risks and uncertainties identified in the Company’s filings with the Securities and Exchange Commission. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements.

Contacts

Media Contact
comms@forwardindustries.com

Investor Relations Contact
Sean Mansouri, CFA / Aaron D’Souza
Elevate IR
(720) 330-2829
ir@forwardindustries.com