May 25, 2024

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Truly Business

CORRECTING and Replacing SOL World Announces Initial Environmentally friendly Tech Expenditure in Award-Successful Electric powered Motorcycle Firm Damon Motorcycles

6 min read

TORONTO–(Company WIRE)–Please substitute the launch with the following corrected variation because of to the addition of a picture and multiple revisions in the textual content.

The current launch reads:

SOL Worldwide ANNOUNCES Very first Eco-friendly TECH Investment decision IN AWARD-Profitable Electric powered Motorcycle Organization DAMON Motorcycles

SOL Worldwide Investments Corp. (“SOL World” or the “Corporation“) (CSE: SOL) (OTCPK: SOLCF) (Frankfurt: 9SB) nowadays announces that it has completed an expenditure in Vancouver, Canada-dependent Damon Bikes (“Damon”), an award-winning electric powered motorcycle firm whose bikes are powered by the world’s very first all-electric multi-variant powertrain.

As declared by Damon in a news launch dated March 10, 2021, Damon just lately lifted USD$30 million soon after completing a bridge funding round led by SOL World-wide, Benevolent Funds Associates, LLC, Zirmania Investments Restricted, and other traders. SOL World wide invested CAD$6.1 million into Damon.

Damon is unleashing the complete likely of own mobility for the world’s commuters. With its HyperDrive™ proprietary electric powered powertrain, the company has made the world’s most secure, smartest, completely related electric bikes utilizing sensor fusion, robotics and synthetic intelligence. All of Damon’s motorcycles come geared up with a wide range of exceptional security and rider comfort options, which includes CoPilot, a 360° advanced warning technique employing a mixture of cameras, radar, and non-visual sensors to inform the rider of impending road blocks, and Change, which allows a rider to regulate handlebar and peg positions whilst their ride is underway. Damon’s HyperDrive motorcycles pack 200 horsepower and 200 Newton metres (148 lbs per foot) of torque, enabling the bikes to arrive at speeds of up to 200 miles for every hour.

“We have unveiled the future of two-wheel transportation and yielded high demand from customers in North America and Europe, validating the sector need to have for higher-overall performance electric bikes,” claimed Jay Giraud, founder & CEO at Damon Motors. “On the back again of this desire, Damon will create an full line of medium- and high-functionality bikes in excess of the up coming couple several years, with HyperDrive serving as the main of each individual model.”

Damon’s bikes can be purchased on a membership product, with the SX design coming in at $286 for every thirty day period and the SE model costing $199 for every thirty day period. A subscription service for the bikes is delivered by FreedomRoad Money and will operate across all Damon models. Customers can opt for from 24, 36, and 48-thirty day period membership programs, offering consumers with the flexibility to trade their HyperSport bicycle for updated styles at the finish of the subscription time period.

Primarily based in Vancouver, Canada, Damon was started by serial entrepreneurs Jay Giraud and Dom Kwong. Damons traders include things like Spherical13 Money, Techstars, Fontinalis Companions, Extraordinary Undertaking Associates, and Pallasite Ventures. For a lot more facts on Damon, you should take a look at the company’s site at www.damon.com.

COVID-19 Update

SOL Worldwide and its investments and portfolio corporations have ongoing to deliver for both shoppers and shareholders regardless of problems in the general hashish area and uncertain market place problems prompted by the ongoing COVID-19 pandemic. SOL Global’s portfolio providers and organizations in which they retain a non-controlling economic curiosity, which includes Bluma Wellness Inc. (“Bluma”) have tailored to the present ecosystem as a result of the continued scale-up of existing Florida hashish generation services, the ongoing enlargement of Bluma’s running subsidiary, Just one Plant Florida’s, now sturdy residence- and curbside-delivery network and on the internet buying method in Florida, and the continued oversight of strategic company opportunities. SOL World-wide continues to be self-confident that it will carry on to temperature the COVID-19 storm and will arise from the pandemic as a strengthened chief in the much larger cannabis market.

About SOL International Investments Corp.:

SOL International is a diversified financial commitment and private fairness keeping organization engaged in the little and mid-cap sectors. The Company’s financial investment partnerships vary from minority positions to substantial strategic holdings with lively advisory mandates. The Company’s seven major company segments incorporate Retail, Agriculture, QSR & Hospitality, Media Know-how & Gaming, and New Age Wellness.

Cautionary Statements

This push launch is made up of “forward-wanting information and facts” within just the that means of relevant securities regulations. All statements contained herein that are not clearly historic in mother nature may possibly represent forward-looking information and facts. In some conditions, ahead-searching facts can be identified by words and phrases or phrases such as “could”, “will”, “assume”, “likely”, “should”, “would”, “approach”, “foresee”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the destructive of these terms, or other comparable text, expressions and grammatical versions thereof, or statements that specified gatherings or conditions “may” or “will” transpire, or by discussions of technique. The forward-wanting info contained in this press launch features, without the need of limitation, the conversion of the models issued pursuant to Damon’s financing into popular shares, Damon’s strategic designs and the Company’s expectations relating to its capability to run and arise from the COVID-19 pandemic.

Ahead-on the lookout information and facts is based mostly on certain material assumptions that were being utilized in drawing a summary or making a forecast or projection, like management’s perceptions of historical developments, present-day situations and anticipated upcoming developments, as properly as other criteria that are thought to be proper in the situation. Whilst we consider these assumptions to be sensible based mostly on information and facts at present offered to administration, there is no assurance that these anticipations will prove to be accurate.

By their nature, forward-searching facts is issue to inherent risks and uncertainties that may possibly be typical or unique and which give rise to the risk that anticipations, forecasts, predictions, projections or conclusions will not confirm to be correct, that assumptions may possibly not be proper and that targets, strategic plans and priorities will not be obtained. A wide variety of factors, including regarded and not known challenges, a lot of of which are outside of our manage, could cause precise success to differ materially from the forward-seeking info in this press launch such as the inability or failure of the Company’s portfolio businesses to execute their business and strategic options as contemplated or at all, changes in national or regional economic, authorized, regulatory and competitive situations and a resurgence in the COVID-19 pandemic.

Other risk factors include things like: the threats resulting from investing in the US marijuana field, which may perhaps be authorized below selected point out and regional guidelines but is at this time illegal underneath U.S. federal legislation the pitfalls of investing in securities of personal corporations which may well restrict the Company’s means to provide or or else liquidate these securities and realize price reliance on administration the capability of the Business to company its debt the Company’s means to get further funding from time to time to pursue its organization goals competitiveness litigation inconsistent public opinion and perception pertaining to the health-related-use and adult-use marijuana field and regulatory or political modify. More hazard aspects can also be found in the Company’s present MD&A, which has been filed on SEDAR and can be accessed at www.sedar.com. Visitors are cautioned to take into consideration these and other elements, uncertainties and possible situations meticulously and not to put undue reliance on ahead-hunting information.

The forward-on the lookout facts contained herein is designed as of the date of this press launch and is based mostly on the beliefs, estimates, expectations and thoughts of management on the date these kinds of ahead-on the lookout information is produced. The Organization undertakes no obligation to update or revise any forward-on the lookout facts, whether or not as a end result of new facts, estimates or opinions, future gatherings or results or otherwise or to describe any content distinction amongst subsequent true functions and these types of ahead-on the lookout information, other than as expected by relevant regulation.

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