\nSOL Global Investments Corp. (“SOL Global<\/b>” or the “Company<\/b>“) (CSE: SOL) (OTCPK: SOLCF) (Frankfurt: 9SB) is pleased to provide its investors with unaudited financials for the first quarter ended February 28, 2021 and a general operational update concerning the Company\u2019s assets and investments. All figures in this press release are in Canadian dollars, unless otherwise indicated. <\/i><\/p>\n
Unaudited Quarter-End Results<\/b><\/p>\n \n\u201cI\u2019m pumped for our stockholders and beyond proud of my team and partners for today\u2019s results,\u201d said SOL Global\u2019s Chairman and CEO, Andy DeFrancesco. \u201cOur year end results were strong, but we shattered expectations with this most recent quarter. Going forward, our sectors and holdings may change but our strategy, risk management and dedication to our stockholders will not.\u201d\n<\/p>\n The Company\u2019s financial statements for the quarter ended May 31, 2021 will be released on July 30, 2021<\/b><\/p>\n Verano Operational Update<\/b><\/p>\n \nOn March 31, 2021, Verano Holdings Corp. (\u201cVerano<\/b>\u201d) announced it had entered into a definitive agreement to acquire all of the issued and outstanding equity interests of The Healing Center, LLC, adding three highly productive, award-winning dispensaries in the Pittsburgh-metro area.\n<\/p>\n \nOn April 6,2021, Verano announced its full year results for the year ended December 31, 2020. Highlights include:\n<\/p>\n \nOn April 22, 2021, Verano announced it had entered into definitive agreements for all of the issued and outstanding equity interests in Agri-Kind, LLC, Agronomed Holdings Inc. and Agronomed Biologics, LLC, which collectively will add the equity in two cultivation licenses (one active location plus another facility for additional cultivation and production that is currently under construction) and the equity in a permit to add six dispensaries (non-active, to be developed) in Pennsylvania. These equity transactions will enhance Verano\u2019s presence in Pennsylvania and further the Company\u2019s position as a U.S. market leader.\n<\/p>\n Bluma Wellness Operational Update<\/b><\/p>\n \nOn April 14, 2021, Cresco Labs closed its acquisition of Bluma. As a result of the acquisition, Bluma is now a wholly-owned subsidiary of Cresco Labs.\n<\/p>\n \nOn April 12, 2021, Cresco launched a new brand of branded gummies under the name Wonder Wellness Gummies.\n<\/p>\n \nOn April 22, 2021, Cresco announced the appointment of Tarik Brooks to its board of directors and the retirement of Dominic Sergi.\n<\/p>\n Other Highlights for Q2<\/b><\/p>\n COVID-19 Update<\/span><\/p>\n \nSOL Global and its investments and portfolio companies have continued to deliver for both clients and shareholders despite challenges in the overall cannabis space and uncertain market conditions caused by the ongoing COVID-19 pandemic. SOL Global\u2019s portfolio companies and companies in which they retain a non-controlling economic interest, including Bluma have adapted to the current environment through the continued scale-up of existing Florida cannabis production facilities, the continued expansion of Bluma\u2019s operating subsidiary, One Plant Florida\u2019s, already robust home- and curbside-delivery network and online ordering system in Florida, and the continued oversight of strategic business opportunities. SOL Global remains confident that it will continue to weather the COVID-19 storm and will emerge from the pandemic as a strengthened leader in the larger cannabis marketplace.\n<\/p>\n About SOL Global Investments Corp.:<\/b><\/p>\n \nSOL Global is a diversified investment and private equity holding company engaged in the small and mid-cap sectors. The Company\u2019s investment partnerships range from minority positions to large strategic holdings with active advisory mandates. The Company\u2019s seven primary business segments include Retail, Agriculture, QSR & Hospitality, Media Technology & Gaming, and New Age Wellness.\n<\/p>\n Non-IFRS Financial Measures<\/b><\/p>\n \nThis press release includes references to net asset value, which is a financial measure that does not have a standardized meaning prescribed by IFRS. Net asset value is calculated as the value of total assets less the value of total liabilities at a specific date. The Company believes this non-IFRS measure does not only provide management with comparable financial data for internal financial analysis but also provides meaningful supplemental information to investors. In particular, management believes this financial measure can provide information useful to its shareholders in understanding the performance of the Company and may assist in the evaluation of its business relative to that of its peers. Investors are cautioned that this non-IFRS measure should not be construed as an alternative to the measurements calculated in accordance with IFRS as, given the non-standardized meaning, it may not be comparable to similar measures presented by other issuers.\n<\/p>\n Cautionary Statements <\/i><\/b><\/p>\n This press release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained 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 of 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. The forward-looking information contained in this press release includes, without limitation, , future operational plans of Verano, the completion of the transaction between Verano and The Healing Center, LLC, the completion of the transactions between Verano and Agri-Kind, LLC, Agronomed Holdings Inc. and Agronomed Biologics, LLC, the estimated impacts on the transactions on the business of Verano, future equity investments in Captor Capital, future plans in relation to litigation with 1235 Fund LP, purchases under the NCIB, and the Company\u2019s expectations regarding its ability to operate and emerge from the COVID-19 pandemic.<\/i><\/p>\n 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, there is no assurance that such expectations will prove to be correct. <\/i><\/p>\n 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 our control, could cause actual results to differ materially from the forward-looking information in this press release including the inability or failure of the Company\u2019s portfolio companies to execute their business and strategic plans as contemplated or at all, the failure by Verano, The Healing Center, LLC, Agri-Kind, LLC, Agronomed Holdings Inc. and Agronomed Biologics, LLC to obtain all requisite corporate, regulatory and court approvals for the proposed transactions, the outcome of litigation in respect of the Debenture, changes in national or regional economic, legal, regulatory and competitive conditions and a resurgence in the COVID-19 pandemic. <\/i><\/p>\n Other risk factors include: the risks resulting from investing in the US marijuana industry, which may be legal under certain state and local laws but is currently illegal under U.S. federal law; the risks of investing in securities of private companies which may limit the Company\u2019s ability to sell or otherwise liquidate those securities and realize value; reliance on management; the ability of the Company to service its debt; the Company\u2019s ability to obtain additional financing from time to time to pursue its business objectives; competition; litigation; 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, which has been filed on SEDAR and can be accessed at www.sedar.com<\/a>. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. <\/i><\/p>\n The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.<\/i><\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210429005648\/en\/<\/a><\/span><\/p>\n \nSOL Global Investments Corp.\n
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Paul Kania, CFO
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Phone: (212) 729-9208
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Email: info@solglobal.com<\/a><\/p>\n