SOL Global Investments Corp. (CSE: SOL) today announced the launch of a specialized investment company called House of Lithium. The newly created firm is reported to target businesses “that are leading the way in the green revolution”.
“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.”
In connection to the newly-formed investment firm’s go-public transaction, the company is planning to raise aggregate proceeds of $8 million.
Furthermore, the holding company plans to divest its current portfolio of electric vehicle, green tech, and clean tech investments to House of Lithium. This includes Damon Motors, Tevva Motors, Reby Inc., Simply EV, Switch Motorcycles, Arevo, and Navier.
House of Lithium is expected to provide equity to small and mid-sized companies in the electric mobility value chain, ranging from micro-mobility and electric vehicles to energy-efficient blockchain and hydrogen power.
SOL Global Investments last traded at $3.67 on the CSE.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.