Toronto, Ontario--(Newsfile Corp. - October 16, 2024) - Antanas Guoga, Chair and director of Sol Strategies Inc. (formerly, Cypherpunk Holdings Inc., the "Company"), announces that he has filed an early warning report (the "Report") regarding the acquisition ("Acquisition") of 16,575,000 common shares (the "Common Shares") in the capital of the Company through transactions between September 16, 2022 and September 27, 2024 through the facilities of the Canadian Securities Exchange (the "CSE") and through the exercise of stock options to purchase 1,500,000 Common Shares on July 8, 2024, and the disposition (the "Disposition") on September 30, 2024 and October 1, 2024 of 450,000 and 771,000 Common Shares, respectively, through the facilities of the CSE.

Prior to the completion of the Acquisition and the Disposition, Mr. Guoga held an aggregate of 37,225,667 Common Shares, 2,000,000 stock options and 905,834 Common Share purchase warrants, representing approximately 23.25% of the issued and outstanding Common Shares on an undiluted basis and 24.62% of the issued and outstanding Common Shares on a partially diluted basis. Upon completion of the Acquisition and the Disposition, Mr. Guoga held an aggregate of 52,579,667 Common Shares and stock options entitling him to purchase up to 2,000,000 Common Shares, representing approximately 36.0% of the then issued and outstanding Common Shares on an undiluted basis and 36.8% of the then issued and outstanding Common Shares on a partially diluted basis.

The Acquisition and Disposition transactions were completed for investment purposes. Mr. Guoga may, depending on market and other conditions, or as future circumstances may dictate, from time to time, on an individual or joint basis, increase or dispose of some or all of the existing or additional securities he holds or will hold, or may continue to hold. In the future, Mr. Guoga, will evaluate his investment in the Company from time to time and may, based on such evaluation and the market conditions and other circumstances, increase or decrease his security holdings through market transactions, private agreements, or otherwise.