Sol Global Announces Strategic Investment Into Mcqueen Labs Inc. for Real World Asset Tokenization on the Solana Blockchain
Toronto, CA, January 28th, 2025, Chainwire
MCQ Markets is pioneering the curation of ultra-rare luxury vehicles and collectibles via tokenization and data authentication on the Solana Blockchain
SOL Global Investments Corp. (CSE: SOL) (FSE: 9SB) (“SOL Global” or the “Company”), one of the first publicly traded companies focused on institutional Solana investments, is pleased to announce it has entered into a binding letter of intent on January 27, 2025 (the “Letter of Intent”) to increase its investment in McQueen Labs Inc. (“MCQ Markets”), a Delaware corporation and the operator of MCQ Markets, an emerging leader in the alternative automotive investment space. By leveraging the security and efficiency of the Solana blockchain, MCQ Markets is laying the foundation for the future of data authentication in the collector car market, ensuring verified historical records and market valuations.
Pursuant to the terms of the Letter of Intent, SOL Global will acquire (the “Investment”) 2,155,556 shares of common stock of MCQ (“MCQ Shares”) at a price of US$0.54 (~C$0.691) per MCQ Share to increase its position from 1,851,852 MCQ Shares to 4,007,408 MCQ Shares. The total acquisition cost of the MCQ Shares will be US$1,164,000 (~C$1,684,028) and will be satisfied by the Company through the issuance of 3,125,000 shares of SOL Global (“SOL Shares”) at a price of C$0.40 per SOL Share and cash consideration of US$300,000.
The SOL Shares will be subject to trading restrictions such that no more than 20% of the daily volume of SOL Shares on the CSE may be traded by MCQ Markets. It is expected that the Investment will close on or about February 4, 2025. The closing of the Investment is subject to the policies of the Canadian Securities Exchange.
MCQ Markets specializes in providing fractional ownership opportunities for high-value collector cars through an accessible and SEC-compliant platform. MCQ Markets intends to create a series of collectible tokens (NFTs) for each asset to be sold via MCQ Markets. Investors can purchase shares in iconic vehicles such as Ferraris and Lamborghinis, with each vehicle linked to a unique NFT, securely storing vital information such as VIN, mileage, acquisition date, and more. This secure and immutable digital ledger will ensure all records are tamper-resistant and fully transparent. By leveraging blockchain technology on the Solana network, MCQ Markets intends to ensure authenticity, transparency, and security in data authentication and unlock new opportunities for real-world asset (RWA) tokenization and digital collectibles.
“This investment in MCQ Markets highlights the innovative potential of Solana’s blockchain technology, breaking down barriers traditionally associated with luxury ownership and transforming the collector car industry for a new generation of investors,” said Paul Kania, Interim CEO, CFO of SOL Global Investments Corp.
CEO of MCQ Markets, Curt Hopkins, shared “By partnering with SOL Global and building on the Solana blockchain, we’re bringing the technical prowess and security of the blockchain to the automotive world, ensuring authenticity, provenance, and transparency for our investors. This partnership will enable MCQ Markets to explore new frontiers in real-world assets and Web3 and be at the forefront of creating the future automotive collecting.”
For Further Information Users Can Contact:
SOL Global Investments Corp.
Paul Kania, Interim CEO, CFO
Tel: (212) 729-9208
Email: info@solglobal.com
Website: https://solglobal.com/
About SOL Global Investments Corp.
SOL Global is a pioneering institutional investment in the Solana ecosystem. As one of the first publicly traded companies globally focused on Solana investment, SOL Global aims to provide unprecedented public exposure to the Solana blockchain through token acquisition, staking for yield generation, and investments in early-stage ventures being built on Solana.
About MCQ Markets
MCQ Markets is redefining luxury asset ownership by making exotic automobiles attainable through its innovative fractional ownership model. The platform serves both passionate enthusiasts and seasoned investors, democratizing luxury ownership and allowing more individuals to invest in assets that were previously out of reach. For more information, please visit: https://on.mcqmarkets.com/pr. Investments contain a high degree of risk. You should carefully review the MCQ Markets offering circular before deciding to invest, a copy of which is available on the Securities and Exchange Commission’s website.