Sol Strategies, a Canadian holding company investing in Solana and its ecosystem, has announced it secured CAD $25 million in credit to buy more SOL tokens.
On Jan. 7, Sol Strategies, formerly Cypherpunk Holdings Inc., stated in a press release that it had drawn from an amended credit facility agreement with the company’s chairman and director, Antanas Guoga. The agreement provides CAD $25 million (about $17.4 million) in an unsecured, revolving credit facility that Sol Strategies will exclusively use to buy Solana (SOL) tokens.
“I’m making this capital available to Sol Strategies because of how deeply I believe in both the corporate strategies and Solana itself,” Guoga said in a statement.
Read more: Cypherpunk Holdings rebrands to Sol Strategies, shifts focus to Solana
The company disclosed that it had already drawn $4 million from the facility and plans to use the remaining funds for SOL purchases, support for its staking operations, and key acquisitions. Sol Strategies is targeting opportunities across decentralized finance, validator operations, and liquidity provision.
Guoga reiterated this strategy in a post on X, noting that the company will leverage the facility to grow its business. This includes expanding its SOL holdings, acquiring more validators, and securing liquidity to tap into other opportunities.
Sol Strategies’ chief executive officer, Leah Wald, also commented on the agreement, highlighting that the company evaluated other financing options before settling on this facility.
As for the investment plan, Wald noted:
“Our staking strategy is tremendously successful, and we are confident that our expanded position in Solana will generate substantial returns for our shareholders while supporting the continued growth of the Solana ecosystem.”
Sol Strategies can tap into the revolving credit any time up to January 6, 2027.
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