SOL Global’s Green and Clean Subsidiary House of Lithium Invests an Additional US $5 Million Into Reby Inc.

CANNANNEW REPORT

House of Lithium Increases its Position in Reby Inc. to 16.67% on a fully-diluted basis Reby Inc. is Led by 28-Year-Old 3x Technology Entrepreneur and Investor Pep Gómez, who is also the founder of Fever, the Global Leader In The Digitization Of The Experience Economy TORONTO–(BUSINESS WIRE)–SOL Global Investments Corp. (the “Company” or “SOL Global”) (CSE: SOL) (OTCQ: SOLCF) (Frankfurt: 9SB) and House of Lithium Ltd. (“House of Lithium”) are pleased to announce that House of Lithium has made a cash investment in the amount of US$5 million (the “Investment”) in Reby Inc. (“Reby”). House of Lithium made the Investment through the purchase of a convertible promissory note (the “Convertible Note”) issued by Reby on October 14, 2021. The Convertible Note is due and payable in full on the 12-month anniversary of its issue and provides for an interest rate of 1% per year. The principal and unpaid accrued interest of the Convertible Note will be converted (the “Conversion”) into Reby’s most senior preferred stock (“Reby Securities”) on the closing of a bona fide preferred equity financing of Reby (an “Equity Financing”), or earlier at the election of House of Lithium. The Reby Securities to be issued upon the Conversion shall be at a conversion price that would result in House of Lithium holding, together with its existing position in Reby, an aggregate of 16.67% of Reby’s fully diluted capital. According to a new market research report published by Sheer Analytics and Insights, “Europe Mobility as a Service (MAAS) Market was US$14.3 Billion in 2020, and it is expected to reach US$413.2 Billion by 2031”. It is expected to grow at commendable compound annual growth rate (CAGR) of 35.7% between 2021-2031.1 “Reby is different from the other micro mobility companies that we have looked at,” said Andy DeFrancesco, House of…

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Source : SOL Global’s Green and Clean Subsidiary House of Lithium Invests an Additional US Million Into Reby Inc.

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