SOL Global Investments Corp. SOLCF announced that it is up to date on all interest payments and has repaid an additional $1.0 million towards its $50 million credit facility with an arm's length lender, reducing the principal amount of the credit facility to $4.52 million. SOL Global has also extended the term of the credit facility until September 30, 2023 and intends to continue making principal payments towards the credit facility as a top priority.
In light of current market conditions, the company continues its corporate strategy focused exclusively on managing and maintaining the company's existing core holdings and reducing and divesting all minority and non-core positions.
Changes to Board and Management
The company's current chairman and CEO, Kevin Taylor, will transition from the company to a strategic advisory role working directly with SOL's portfolio companies, specifically in his role of chairman and CEO of House of Lithium Ltd., SOL Global's largest single holding. Contemporaneously with Taylor's transition, the board of directors has elected Paul Kania, CFO of the company, to act as interim CEO.
The company has elected Deena Siblock and Mehdi Azodi to the board of directors. Siblock, previously SOL Global's corporate secretary, has been appointed vice president and director, elevating both Deena's role in corporate governance and compliance.
Olivier Centner will step down as an independent director of the company's board of directors and continue to be involved as a special advisor to the company with an active focus on the company's investee companies.
Benzinga's Cannabis Capital Conference Is Back
The most successful cannabis business event in the world, the Benzinga Cannabis Capital Conference, returns to Miami for its 16th edition. This is the place where DEALS GET DONE, where money is raised, M&A starts, and companies meet investors and key partners. Join us at the Fontainebleau Miami Beach Hotel in Florida on April 11-12. Don’t miss out. Secure your tickets now. Prices will surge very soon.
Photo by Mackenzie Marco on Unsplash
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
The Benzinga Cannabis Capital Conference is coming to Florida
The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.
Get your tickets now on bzcannabis.com – Prices will increase very soon!