SOL Global Investments Corp. (SOLCF) Announces Closing of Portfolio Company Bluma Wellness Inc.’s

Bluma is a vertically-integrated, licensed medical cannabis company operating in the State of Florida through its subsidiary, 3 Boys Farm, LLC, doing business as “One Plant Florida” (“One Plant Florida“).

One Plant Florida cultivates and processes its premium cannabis flower at its new 54,000 square foot Nexus greenhouse facility in Indiantown, Florida, and at its 24,000 square foot Ruskin, Florida greenhouse facility. One Plant Florida also operates three (3) retail dispensaries in Boynton Beach, Florida, Jacksonville Beach, Florida and St. Petersburg, Florida, and each location offers a consumer-friendly in-store experience, the state’s first approved curbside pickup network, and an innovative next-day door-to-door e-commerce home delivery service. One Plant Florida intends to open an additional seven (7) retail dispensaries and delivery hubs throughout the state by November 2020 (subject to the receipt of all required approvals from the Florida Office of Medical Marijuana Use), with its next opening scheduled to occur on or before June 30, 2020 in Port St. Lucie, Florida. Bluma may in the future expand into other states in which the production, distribution and use of cannabis is permitted under state law, as strategic opportunities are presented and as deemed appropriate by management.

“I want to congratulate the teams at both Bluma and SOL for once again performing for stockholders in both companies during these extremely difficult market conditions,” said SOL Global Chairman Andy DeFrancesco. “I would also like to give a special thanks to our Bluma CEO Brady Cobb for his insatiable need to raise the bar in what will undoubtedly be the most important state and through what’s quickly become recognized as the highest-quality cannabis products, as seen in Bluma’s price-per-pound sales and incredible customer reviews.”

In connection with the closing of the RTO, SOL Global received an aggregate of 16,067,269 Bluma Shares and 6,450,000 warrants, with each such warrant exercisable to purchase one (1) Bluma Share (the “Bluma Warrants“). The Bluma Warrants issued to SOL Global are subject to an exercise restriction that prevents SOL Global from exercising such number of Bluma Warrants that would result in SOL Global beneficially owning, or having control or direction over 20% or more of the issued and outstanding Bluma Shares, on a post-conversion basis.

As a result, SOL Global holds 19.41% of the issued and outstanding Bluma Shares on a non-diluted basis and 19.99% of the Bluma Shares on a partially diluted basis.

In addition, SOL Global holds non-controlling limited partnership interests in independent investment entities resulting in additional economic exposure to SOL Global in an aggregate of 24,375,000 Bluma Shares and 12.5% unsecured convertible debentures of Bluma in the aggregate amount of $US8,652,000.

About SOL Global Investments Corp.:

SOL Global is a diversified investment and private equity holding company engaged in the small and mid-cap sectors. Our investment partnerships range from minority positions to large strategic holdings with active advisory mandates. Sol Global’s seven primary business segments include Retail, Agriculture, QSR & Hospitality, Media Technology & Gaming, Energy, and New Age Wellness.

Cautionary Statements

This press release contains “forward-looking information” within the meaning of applicable securities laws including statements relating the commencement of trading of the Bluma Shares on the CSE and the strategic plans of Bluma. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “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” happen, or by discussions of strategy.