SOL Global to Unlock Shareholder Value with Majority Ownership in House of Lithium

House of Lithium Announces Financing and Plans to Go Public

SOL Global Investments Corp. ("SOL Global" or the "Company") (CSE: SOL) (OTCPK: SOLCF) (Frankfurt: 9SB) is pleased to announce the launch of a specialized investment company called House of Lithium (“House of Lithium”), which will target businesses that are leading the way in the green revolution. In connection with the launch of House of Lithium, SOL Global plans to divest its current portfolio of electric vehicle, green tech and clean tech investments to House of Lithium, with further plans to raise approximately CAD $8 million in connection with House of Lithium’s planned go-public transaction.

House of Lithium plans to provide growth equity to small and mid-sized companies in the electric mobility value chain, including but not limited to:

• Micro-mobility
• Recreational, commercial & commuter electric vehicles (“EVs”) for both land and water
• Batteries and other energy storage technology
• Electric mobility infrastructure
• Resource-related proven commodities
• Energy efficient crypto and blockchain
• Hydrogen power

House of Lithium will invest in companies with strong management and robust business models that require capital to compete in high growth sectors. House of Lithium will leverage its extensive experience and network of relationships to provide advice and strategic opportunities in respect of strategic partnerships, mergers, acquisitions, going public and other transactions in this sector.

Among the assets that SOL Global plans to divest to House of Lithium are:

Damon Motors Inc.: Damon is unleashing the full potential of personal mobility for the world’s commuters. With its HyperDrive™ proprietary electric powertrain, the company has developed the world’s safest, smartest, fully connected electric motorcycles employing sensor fusion, robotics and artificial intelligence. All of Damon’s motorcycles come equipped with a variety of unique safety and rider comfort features, including CoPilot, a 360° advanced warning system utilizing a combination of cameras, radar, and non-visual sensors to inform the rider of impending obstacles, and Shift, which enables a rider to adjust handlebar and peg positions while their ride is underway. Damon’s investors include Round13 Capital, Techstars, Fontinalis Partners, Extreme Venture Partners, and Pallasite Ventures. Visit https://damon.com/.

Tevva Motors Ltd.: Tevva is a leading developer of electrification systems for commercial vehicles with a strong management team and a strong track record of key milestone achievements. Its technology across the electric powertrain drives superior performance, is applicable to a broad range of vehicles and duty cycles, and provides a solution which prevents emissions in urban areas, whilst enabling a fully practical vehicle for operators. Tevva has a modular approach to its technology design, enabling cost-effective integration into OEM vehicle platforms resulting in numerous competitive benefits for end users, including a significant reduction in total cost of ownership compared to diesel vehicles. Tevva has developed and deployed directly with customers, and is now ready to scale production volumes. Visit https://tevva.com/.

Reby Inc.: Reby operates through 3 complementary business lines in the micro mobility, scooter rental and direct to consumer electric micro mobility markets. It has over 10,000 vehicles and operates in 12 cities within Europe. Reby contributes to the shared micro mobility ecosystem in Europe by sharing its expertise in logistics and public administration with partners such as the Universitat Politècnica de Catalunya, the Universitat de Girona, and the Politecnico di Milano, to ultimately accelerate deregulation and mass adoption of Mobility-as-a-Service (MaaS) solutions. Visit https://www.reby.co/.

Simply EV: Simply EV is a specialized online and physical store that allows manufacturers of personal electrical vehicles to showcase and sell their products, while offering financing and accessibility solutions. Simply EV offers a thoughtful curation of micro mobility products and an outstanding customer centric shopping experience. Simply EV’s product mix of e-bikes, kick scooters, electric motorcycles, e-marine, lifestyle, and other accessories are manufactured to the highest standards to provide a safe, fun, and reliable riding experience. Headquartered in Miami, Simply EV is a unit of Revolution Brands International, LLC. Revolution Brands International recently acquired majority stake in Kimoa. Simply EV will be the preferred retailer for Kimoa across the US. Visit https://www.simplyev.com/.

Switch Motorcycles: Switch is a new wave production electric motorcycle company founded in 2017 which, in early 2020, launched its pre-production prototype - the globally acclaimed eSCRAMBLER™. The product was designed entirely in 3D by ex-Yamaha Japan Advanced Labs and former Flat Tracking champion Michel Riis Eriksen, and won the Bike EXIF 2020 Bike of the Year. Visit https://switchmotorcycles.com/.

Arevo: Arevo is a leading 3D printing company that works with product makers to develop and manufacture a wide variety of products from mopeds to drones, with ultra-strong lightweight continuous carbon fiber. Arevo enables more complex structural parts over traditional composites and additive manufacturing solutions to iterate products faster and explore mass customization. Arevo recently closed a USD $25 million financing round led by Khosla Ventures and with new participation from venture capital firm Founders Fund. Visit https://arevo.com/.

Navier: Navier is building long-range, high-speed electric hydrofoiling boats that provide a smooth zero emission ride. Navier aims to enable clean, efficient, and affordable waterborne transportation for congested coastal cities around the world by reducing small marine vessel operational cost by 90%. Navier was founded by two MIT engineers: Sampriti Bhattacharyya who holds a PhD in mechanical engineering from MIT and has worked on flight control systems at NASA, and Reo Baird who previously worked at McKinsey and is an autonomous systems specialist. Visit https://www.navierboat.com/.

Management Team

House of Lithium will be overseen by Chairman and CEO, Andy DeFrancesco, with Paul Kania as Chief Financial Officer, Richard Waxman as President and Jacob Carbonaro as Chief Analyst. Alex Spiro will also be joining the Company’s board of directors and will serve as Non-Executive Vice Chair.

“Our historic successes have come from finding ‘the next sector’ and making big, concentrated bets early while valuations are low and way before Joe Public investor has jumped on the train,” said SOL Global CEO, Andy DeFrancesco. “While EV is still early in the auto sector it’s very active and valuations are becoming substantial. We are differentiating ourselves by focusing on commuter, recreational and delivery vehicles for both land and water and everything required to power them. We are also looking at various other green initiatives - particularly in clean technology – as it relates to the optimization of air and water.”

SOL Global plans to provide more information on House of Lithium on an ongoing basis, with near term announcements expected regarding new investments, onboarding of advisors and board of directors, as well as further details with respect to the financing and planned go public transaction.

About SOL Global Investments Corp.:

SOL Global is a diversified investment and private equity holding company engaged in the small and mid-cap sectors. The Company’s investment partnerships range from minority positions to large strategic holdings with active advisory mandates. The Company’s six primary business segments include Retail (QSR & Hospitality), Agriculture (including Cannabis), Technology (with a focus on Clean-Tech and Electric Vehicles), Esports and Gaming, Cryptocurrency, and New Age Wellness. The Company’s head office is located at 100 King Street West, Suite 5600, Toronto, Ontario, M5X 1C9.

Cautionary Statements

This press release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as "may", "will", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy. The forward-looking information contained in this press release includes, without limitation, the Company’s intention to create a specialized investment firm called House of Lithium or otherwise, the intention for House of Lithium to target companies in the EV, micro-mobility or other related sectors, the ability of House of Lithium’s target companies to become leaders in the green revolution and the ability of House of Lithium to acquire such companies, strategic plans for House of Lithium to go public and complete a concurrent financing, the growth rate, size or nature of the EV or micro-mobility market, the success of the companies in which House of Lithium intends to invest, the Company’s business plans to divest certain of its investments to House of Lithium, House of Lithium’s business strategy and investment plans, information relating to the expected growth of the electric mobility market, and information relating to the intended strategies of the companies which SOL Global intends to divest to House of Lithium. There is no assurance that the transactions described herein will occur on the expected timeline, in the manner described or at all.

Forward-looking information is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management's perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct.

By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release including the inability or failure of House of Lithium to complete a going public transaction or a financing as planned or at all, the receipt of all applicable stock exchange and regulatory approvals for House of Lithium’s go-public transaction, the concurrent financing and/or the divestiture of certain of SOL Global’s assets to House of Lithium, the inability or failure of the Company’s portfolio companies to execute their business and strategic plans as contemplated or at all, changes in national or regional economic, legal, regulatory and competitive conditions and a resurgence in the COVID-19 pandemic.

Other risk factors include: the risks resulting from the Company’s investments in the US marijuana industry, which may be legal under certain state and local laws but is currently illegal under U.S. federal law; the risks of investing in securities of private companies which may limit the Company’s or House of Lithium’s ability to sell or otherwise liquidate those securities and realize value; reliance on management; the ability of the Company and House of Lithium to service its current or future debt; the Company’s and House of Lithium’s ability to obtain additional financing from time to time to pursue its business objectives; competition; litigation; inconsistent public opinion and perception regarding the medical-use and adult-use marijuana industry; and regulatory or political change. Additional risk factors respecting the Company can also be found in the Company's current MD&A, which has been filed on SEDAR and can be accessed at www.sedar.com. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information.

The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

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