Sol Global To Sell Unsecured Convertible Bonds In $10 Million Deal

According to PANews, Canadian investment fund SOL Global has announced the signing of a binding letter of intent to sell its unsecured convertible bonds with a principal amount of CAD 10 million. The funding will be provided in advance, with an initial payment of CAD 2 million upon the completion of the transaction. Following this, four additional payments of CAD 2 million each will be made every 60 days. The letter of intent represents a binding commitment from the buyer, and the transaction is expected to be finalized by January 30, 2025. Completion is contingent upon the signing of a definitive subscription agreement and bonds, as well as the fulfillment of certain customary conditions, including obtaining all necessary regulatory and other approvals, and compliance with the policies of the Canadian Securities Exchange.