SOL Global Divests Securities in Captor Capital

TORONTO, Ontario, January 4, 2023 – SOL Global Investments Corp. (“SOL Global” or the “Company”) (CSE: SOL) (OTCPK: SOLCF) (Frankfurt: 9SB) announces that the Company transferred and divested an aggregate of 4,182,316 common shares (“Captor Shares”) of Captor Capital Corp. (“Captor”) and 2,052,632 Captor Share purchase warrants, representing all the Captor Warrants held by the Company (“Captor Warrants”), with each Captor Warrant exercisable for one Captor Share at an exercise price of $1.20 per Captor Share until April 30, 2023 (collectively, the “Dispositions”). The Dispositions were made to certain arm’s length parties in private market transactions occurring simultaneously on January 3, 2023. The Company received investment securities with an aggregate deemed value of $1,716,564 in consideration for the Dispositions. The deemed value attributed to the Captor Shares was $0.40 per Captor Share or $1,672,926 in the aggregate. The deemed value attributed to the Captor Warrants was $0.02 per Captor Warrant or $43,638 in the aggregate.

As a result of the Dispositions, the Company’s holding percentage of Captor Shares was reduced from 17.9% to 9.9% on a non-diluted bases, representing a decrease of 8.0%.

Following the Dispositions, the Company continues to have ownership and control over 5,161,647 Captor Shares and nil Captor Warrants. The completion of the Dispositions resulted in SOL Global’s beneficial ownership of, or control or direction over, the Captor Shares to decrease below 10% of the issued and outstanding Captor Shares. Accordingly, following the filing of the early warning report described below, the Company will no longer file early warning or insider reports in respect of the Company’s ownership of Captor Shares, except as may be required by applicable law.

The Dispositions of Captor Shares and Captor Warrants was undertaken by the Company as part of its strategy to broaden its investment strategy. While the Company has no current plans or intentions relating to Captor securities, depending on various factors including, without limitation, Captor’s business or financial position, the price levels and trading volume of Captor Shares, conditions in the securities markets, general economic and industry conditions, and other factors and conditions deemed appropriate, the Company may acquire or dispose of additional securities of Captor in the future.

This press release is being issued in pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires an early warning report to be filed with the regulatory authorities in each jurisdiction in which Captor is a reporting issuer containing information with respect to the foregoing matters. A copy of the early warning report will be filed on SEDAR under Captor’s profile at www.sedar.com, and is available on request at the number and email address below. Captor’s head office is located at 4 King Street, Suite 401, Toronto, Ontario, M5H 1B6 and the Company’s head office address is located at 100 King Street West, Suite 5600 Toronto, Ontario, M5X 1C9.