Mr. Paul Kania reports

SOL GLOBAL ANNOUNCES UPDATE ON PORTFOLIO COMPANIES

SOL Global Investments Corp. has provided a business updates on its portfolio companies.

Core Scientific Inc.

Texas-based bitcoin mining firm Core Scientific announced on Jan. 23, 2024, that it has successfully completed its Chapter 11 reorganization and materializes with a strengthened balance sheet. The listing of its common stock, tranche 1 warrants and tranche 2 warrants on the Nasdaq Global Select Market under the symbols CORZ, CORZW and CORZZ, respectively, occurred on Jan. 24, 2024. Core has made significant progress throughout its emergence, including paying off its DIP financing, finalizing an oversubscribed $55-million equity rights offering, as well as self-mining 13,762 bitcoin and approximately 5,512 bitcoin from hosted miners.

SOL Global invested $11.3-million (U.S.) in senior secured convertible notes in September, 2022. Under the terms of the restructuring plan, SOL is to receive notes and stock equal to approximately $1.203 of value for every $1 par face amount of principal. Approximately 46 per cent of recovered securities is to be received in the form of new secured convertible notes and 54 per cent in new freely trading common stock.

Build a Rocket Boy

Build a Rocket Boy, a Scotland-headquartered game development company founded by one of the former lead developers behind the Grand Theft Auto franchise, announced Jan. 17, 2024, it has raised $110-million in a Series D round of financing ahead of commercial launch. The company has pitched community-driven gaming with an immersive open-world platform.

Build a Rocket Boy's Series D round was led by New York-based investment firm RedBird Capital Partners, with participation from NetEase Games, Galaxy Interactive, Endeavor, Alignment Growth, Woodline Partners and GTAM Partners, among others.

SOL Global participated in the Series C round in January, 2022, through an investment in the amount of $2-million (U.S.) through a third party LP (limited partnership).

Big League Food Company

On Dec. 4, 2023, SOL portfolio company New Skew announced its merger with Village Juicery to form Big League Food Company (BLFC). With a robust foundation, boasting over $40-million in annual revenue, 30 retail units, 800 wholesale partnerships and a thriving e-commerce customer base exceeding 15,000, BLFC is well positioned to take a leadership role in Canada's culinary landscape. Its edge lies in shared manufacturing, distribution and support capabilities, ensuring top-quality products, robust profits and lasting customer value. Brands under the BFLC umbrella include Village Juicery, Dark Horse Espresso Bar, Detour Coffee and Dear Grain.

Cityrow Holdings Inc.

WaterRower, a manufacturer of fitness equipment, is set to acquire Cityrow, a company known for its tech and content expertise in the fitness industry. This acquisition, announced on Jan. 25, 2024, will bring together WaterRower's manufacturing and distribution capabilities with Cityrow's technology and content offerings.

We seek Safe Harbor.