PANews reported on May 29 that according to an official announcement, Canadian listed company SOL Strategies Inc (CSE: HODL) announced that it has submitted a preliminary simplified basic prospectus to the Canadian securities regulator, intending to raise up to US$1 billion in funds through the issuance of common shares, warrants and other securities in the next two years. The company focuses on investment and infrastructure construction in the Solana blockchain ecosystem, and has not yet determined a specific issuance plan.

Leah Wald, CEO of SOL Strategies, said the move will provide the company with financial flexibility to seize investment opportunities in the rapidly growing Solana ecosystem. The simplified basic offering is subject to approval of the final prospectus, and the specific terms will be disclosed through a supplementary prospectus.