SOL Global Provides Audited Financials for Year Ended November 2020

Company to Immediately Commence Share Buyback under Normal Course Issuer Bid

March 30, 2021 08:45 PM Eastern Daylight Time
TORONTO–(BUSINESS WIRE)–SOL Global Investments Corp. (“SOL Global” or the “Company”) (CSE: SOL) (OTCPK: SOLCF) (Frankfurt: 9SB) is pleased to provide its investors with audited financials for the year ended November 30, 2020 and a general operational update concerning the Company’s assets and investments. All figures in this press release are in Canadian dollars, unless otherwise indicated.

Audited Year-End Results

• For the year-ended November 30, 2020, the Company recorded a positive net income of $98 million VS Year-end November 30, 2019 loss of ($103) million. This represents a favourable change of $201.4 million.
• Total gain from investments totalled $139.0 million for the year-ended November 30, 2020, compared to loss of ($113.2) million for the eight-month period ended November 30, 2019. This represents a favourable change of $252.2 million between periods.
• The Net Asset Value (“NAV”) per share is equal to $3.51 at November 30, 2020 VS $1.70 at November 30, 2019.
• SOL Global has significantly strengthened its asset base as compared to previous years when market multiples were higher. The gains reported in the financial statements are reflective of material operational improvements and growth in the underlying investments.