As previously disclosed, SOL Global had commenced legal proceedings in New York against 1235 and another entity, and 1235 had commenced legal proceedings against SOL Global and others in Ontario.
Pursuant to the settlement, a subsidiary of SOL Global will acquire all of 1235’s rights under the Debenture for CAD $120 million .
SOL Global is pleased that the litigation is at an end.
SOL Global is a diversified investment and private equity holding company engaged in the small and mid-cap sectors.