SOL Global’s green and clean subsidiary, House of Lithium, is investing an additional US $ 5 million in Reby Inc.

House of Lithium increases its position in Reby Inc. to 16.67% on a fully diluted basis

Reby Inc. is led by 28-year-old entrepreneur and 3x tech investor Pep Gómez, who is also the founder of Fever, the global leader in digitizing the experience economy.

TORONTO, November 16, 2021– (COMMERCIAL THREAD) – SOL Global Investments Corp. (the “Society” Where “SOL Global“) (CSE: SOL) (OTCQ: SOLCF) (Frankfurt: 9SB) and House of Lithium Ltd. (“Lithium House“) are pleased to announce that House of Lithium has made a cash investment in the amount of US $ 5 million (the”Investment“) in Reby Inc. (“Reby“).

House of Lithium made the investment by purchasing a convertible promissory note (the “Convertible ticket“) issued by Reby on October 14, 2021. The Convertible Note is due and payable in full on the 12 month anniversary of its issue and provides for an interest rate of 1% per annum. Principal and accrued interest outstanding from Convertible The note will be converted (the “Conversion“) in the first preferred shares of Reby (“Reby Titles“) upon the closing of a good faith preferred equity financing of Reby (a”Equity financing“), or earlier at House of Lithium’s option. The Reby securities to be issued on the conversion will be at a conversion price which would allow House of Lithium to hold, with its current position in Reby, a total of 16 , 67% of the fully diluted capital of Reby.

According to a new market published research report By Sheer Analytics and Insights, “The Mobility as a Service (MAAS) market in Europe was US $ 14.3 billion in 2020, and is expected to reach US $ 413.2 billion by 2031.” It is expected to grow at a commendable compound annual growth rate (CAGR) of 35.7% between 2021-2031.¹

“Reby is different from other micro-mobility companies we’ve looked at,” said Andy DeFrancesco, Founder and CEO of House of Lithium. “Reby is already profitable and its founder and president, Pep Gomez, is a repeat tech superstar, and he’s only 28 years old. Previously (at 18), Pep founded and was the CEO of Fever (www.feverup.com), the world’s leading event discovery platform. At Fever, Pep has raised more than $ 75 million from investors like Accel Partners, Fidelity, Rakuten and 14W Ventures. At Reby, Pep focused on strong Tier 2 markets across Europe, partnering with local governments and institutions to modernize their local transport ecosystem. Reby attracted investment from Neo (which was among the first funds in Uber, Airbnb and Facebook), Fuel Capital (Convoy), EXOR Seeds (Agnelli Family Holding), 14W Ventures (Wallapop, Spotify), as well as an early Tesla investors. and board member, Simon Rothman.

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“We are very excited to strengthen our partnership with House of Lithium, and we both share a similar vision for the future of electric vehicles,” said Pep Gomez, Founder and Chairman of Reby. “The European micro-mobility market is undergoing a transformation, as municipalities begin to reward companies that invest heavily in R&D to ensure a smooth and secure coexistence with its citizens. Reby has focused on building a profitable business from day one. . Personally, I’m a huge fan of building businesses in markets overlooked by the VC community because that’s where the opportunity lies. “

Based in Barcelona, ​​Spain, Reby produces and distributes electric shared-use vehicles in Europe and sells its electric scooters directly to consumers. Reby operates through 3 complementary businesses in the micromobility, scooter rental and direct consumer electric micromobility markets. It has more than 10,000 vehicles and operates in 12 cities in Europe. Reby contributes to the ecosystem of shared micro mobility in Europe by sharing its expertise in logistics and public administration with partners such as Universitat Politècnica de Catalunya, Universitat de Girona and Politecnico di Milano, to ultimately accelerate deregulation and mass adoption of mobility. solutions as a service. Visit https://www.reby.co/.

Warnings

This press release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained in this document which are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information may be identified by words or expressions such as “may”, “will”, “expect”, “likely”, “should”, “should”, “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” occur, or through policy discussions. There can be no assurance that the transactions described herein will occur on schedule, in the manner described, or not at all.

Forward-looking information is based on certain material assumptions that have been applied in making a conclusion or making a forecast or projection, including management’s perceptions of historical trends, current conditions and expected future developments, as well as of other considerations that are deemed appropriate in the circumstances. Although we believe these assumptions to be reasonable based on information currently available to management, there can be no assurance that these expectations will prove to be correct.

By their nature, forward-looking information is subject to inherent risks and uncertainties which may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions may not prove to be correct, that the assumptions may not be correct and the 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 contained in this press release.

Other risk factors include: risks resulting from investing in the US marijuana industry, which may be legal under certain state and local laws, but is currently illegal under US federal law; the risks of investing in securities of private companies which may limit the ability of SOL Global or House of Lithium to sell or liquidate such securities and to realize value; dependence on management; the ability of SOL Global and House of Lithium to service its current or future debt; the ability of SOL Global and House of Lithium to obtain additional financing from time to time to pursue their business objectives; competetion; litigation; inconsistent public opinion and perception of the medical and adult marijuana industry; and regulatory or policy change. Additional risk factors relating to SOL Global can also be found in SOL Global’s current MD&A, which has been filed on SEDAR and can be viewed at www.sedar.com. Readers are urged to carefully consider these and other factors, uncertainties and potential events, and not to place undue reliance on forward-looking information.

The forward-looking information contained in this document is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management at the date on which such forward-looking information is made. Neither SOL Global nor House of Lithium undertake to update or revise forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any differences. material between subsequent actual events and such forward-looking information, except as required by applicable law.

This press release contains market and industry data obtained from third party sources, including industry publications. The Company and House of Lithium believe the industry data to be accurate and their estimates and assumptions to be reasonable, but no assurance can be given to the accuracy or completeness of such data. Third-party sources generally claim that the information they contain has been obtained from sources believed to be reliable, but there is no assurance as to the accuracy or completeness of the information included. Although the data is believed to be reliable, neither the Company nor House of Lithium have independently verified the data from any third party sources mentioned in this press release nor have they verified the underlying economic assumptions on which these sources merge.

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¹ https://www.sheeranalyticsandinsights.com/market-report-research/europe-mobility-as-a-service-maas-market-21/

See the source version on businesswire.com: https://www.businesswire.com/news/home/202111116005820/en/

Contacts

SOL Global Investments Corp.
Paul Kania, Chief Financial Officer
Telephone: (212) 729-9208
Email: [email protected]

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