TORONTO, June 6, 2019 /CNW/ - SOL Global Investments
Corp. ("SOL Global" or the "Company")
(CSE:SOL) (Frankfurt:9SB) (OTCQB: SOLCF) announces that it has
acquired an aggregate of 4,831,500 common shares and 2,349,500
common share purchase warrants of Frankly Inc. ("Frankly")
(TSX-V:TLK), representing 16.3% of the issued and outstanding
common shares of Frankly on a non-diluted basis and 22.5% of
Frankly on a partially diluted basis. SOL Global acquired an
initial aggregate position of 4,700,000 common shares and the
2,349,500 common share purchase warrants between May 10, 2019 and May 22,
2019 pursuant to a private placement offering of Frankly
units at a price of $0.35 per unit
for an aggregate purchase price of $1,645,000 (the "Frankly Private
Placement"). Each unit was comprised of one (1) common
share of Frankly and one-half (1/2) of one warrant with each whole
warrant exercisable for one common share of Frankly at an exercise
price of $0.65 for a period of 24
months from the issue date. SOL Global did not hold any securities
of Frankly prior to the Frankly Private Placement.
SOL Global acquired an additional aggregate of 131,500 common
shares of Frankly through a series of trades on the open market
between May 22, 2019 to May 29, 2019 at prices ranging from $1.55 to $3.63 per
common share for an aggregate purchase price of $351,885.
The Company acquired the securities for investment purposes. The
Company may, depending on market and other conditions, increase or
decrease its beneficial ownership in Frankly's securities, whether
in transactions over the open market, by privately negotiated
arrangements or otherwise, subject to a number of factors,
including general market conditions and other available investment
and business opportunities.
This news release is being issued in accordance with National
Instrument 62-103 - The Early Warning System and Related
Take-Over Bid and Insider Reporting Issues.
For more information or to obtain a copy of the early warning
report filed in respect of this press release, contact SOL Global
Investment Corp. at the contact details noted below.
Contact Information
SOL Global Investments Corp.
Brady Cobb, Chief Executive
Officer
Phone: (212) 729-9208
Email: info@solglobal.com
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 CBD 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 program with the University of Miami. It is this comprehensive
approach that is positioning SOL Global as a future frontrunner in
the Unites States' medical cannabis industry.
Cautionary Statement Regarding Forward-Looking
Information
This press release contains "forward-looking information" within
the meaning of applicable securities laws. All statements contain
herein that are not clearly historical in nature may constitute
forward-looking information. In some cases, forward-looking
information can be identified by words or phrases such as "may",
"will", "expect", "likely", "should", "would", "plan",
"anticipate", "intend", "potential", "proposed", "estimate",
"believe" or the negative if these terms, or other similar words,
expressions and grammatical variations thereof, or statements that
certain events or conditions "may", or "will" happen, or by
discussions of strategy. Forward-looking information is based upon
certain material assumptions that were applied in drawing a
conclusion or making a forecast or projection, including
management's perceptions of historical trends, current conditions
and expected future developments, as well as other considerations
that are believed to be appropriate in the circumstances. While we
consider these assumptions to be reasonable based on information
currently available to management of the Company, there is no
assurance that such expectations will prove to be correct. By
their nature, forward-looking information is subject to inherent
risks and uncertainties that may be general or specific and which
give rise to the possibility that expectations, forecasts,
predictions, projections or conclusions will not prove to be
accurate, that assumptions may not be correct and that objectives,
strategic goals and priorities will not be achieved. A variety of
factors, including known and unknown risks, many of which are
beyond the Company's control, could cause actual results to differ
materially from the forward-looking information in this press
release. Such factors include, but are not limited to: the
Company's ability to comply with all applicable governmental
regulations in a highly regulated business; investing in target
companies or projects which have limited or no operating history
and are engaged in activities currently considered illegal under US
federal laws; changes in laws; limited operating history; reliance
on management; requirements for additional financing; competition;
inconsistent public opinion and perception regarding the
medical-use and adult-use marijuana industry; and regulatory or
political change. Additional risk factors can also be found in the
Company's current MD&A and annual information form, both of
which have been filed on SEDAR and can be accessed at
www.sedar.com. Readers are cautioned to consider these and other
factors, uncertainties and potential events carefully and not to
put undue reliance on forward-looking information. The
forward-looking information contained herein is made as of the date
of this press release and the Company undertakes no obligation to
update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, except as
required by applicable law.
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SOURCE SOL Global Investments Corp.