SOL Global Announces Results of Duff & Phelps Valuation of Investment Portfolio

SOL Global’s investment portfolio valued between $165.2 and $182.4 Million as at November 30, 2019

TORONTO–(BUSINESS WIRE)–SOL Global Investments Corp. (“SOL Global” or the “Company”) (CSE:SOL) (OTCPK: SOLCF) (Frankfurt:9SB) is pleased to announce that Duff & Phelps Canada Limited (“Duff & Phelps”) has completed a valuation of the Company’s portfolio of private and public investments (the “Investment Portfolio”) as of November 30, 2019 (the “Valuation”). All dollar values within this news release are expressed in Canadian Dollars.

Duff & Phelps Valuation

Based upon the scope of review and subject to the assumptions, limitations and qualifications and other information set out in the Valuation, Duff & Phelps concluded that the value of the Investment Portfolio, as at November 30, 2019, is in a range between $165.2 and $182.4 million with a midpoint of $173.8 million.

Pursuant to the terms of its engagement, Duff & Phelps prepared the Valuation in accordance with the standards of the CBV Institute solely for the information and use of the board of directors of SOL Global to assist it in connection with a strategic review of the Investment Portfolio and not for any other person and the Valuation may not be used or relied upon for any other purpose. The Valuation values only the Investment Portfolio, which comprises SOL Global’s investments in Verano Holdings, LLC, Canncure Investments Inc., HeavenlyRx Ltd., and other public and private company investments and debt instruments, with consideration of potential acquisitions that were at an advanced stage of due diligence. The Valuation does not include any other assets of SOL Global or factor in any of the Company’s liabilities, including its previously announced (on July 8, 2019) outstanding $50.0 million senior secured non-convertible debenture.