SOL Global Reduces Principal Amount of Credit Facility From $50 Million to $7.835 Million and Continues Repayment on a Regular Basis
TORONTO, July 20, 2022--(BUSINESS WIRE)--SOL Global Investments Corp. (the "Company" or "SOL Global") (CSE: SOL) (OTCQ SOLCF) (Frankfurt: 9SB) is pleased to announce that it has repaid an additional $3.05 million toward its $50 million credit facility with an arm’s length lender (the "Credit Facility"), reducing the principal amount of the Credit Facility to $7.835 million. SOL Global intends to continue making principal payments towards the Credit Facility on a regular basis and will provide further updates of material changes respecting the Credit Facility, including any additional payments.
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. 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.
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. There is no assurance that SOL Global will be able to continue to make payments or servicing other obligations under the Credit Facility, or its other current or future debt, on the expected timeline, in the manner described or at all. Additional risk factors respecting SOL Global can also be found in SOL Global’s current Management’s Discussion & Analysis, which has 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 is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. SOL Global 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.
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SOL Global Investments Corp.
Paul Kania, CFO
Phone: (212) 729-9208
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Angela Trostle Gorman