SonicStrategy Completes First Tranche of C$2.25 Million SYN Private Placement

SonicStrategy completed the first tranche of a C$2.25 million non-brokered private placement, issuing 11.25 million common shares and receiving the proceeds entirely in SYN tokens rather than cash.

The Toronto-listed digital asset infrastructure company issued the shares at C$0.20 each. It received 7,922,535 SYN tokens, valued at US$0.20 per token under an agreed exchange rate of US$1 to C$1.42. That produced an agreed conversion value of C$0.284 per token.

SonicStrategy said the SYN/USDC trading pair on Binance recorded a volume-weighted average price of about US$0.1849 from Sept. 28 through Oct. 7. The financing included no warrants and no broker fees.

The shares are subject to Canadian securities-law resale restrictions until Feb. 9, 2027. After the closing, SonicStrategy had 60,870,466 common shares outstanding. The transaction did not create a new shareholder with a stake of 10% or more.

The first-tranche closing remains subject to final acceptance by the Canadian Securities Exchange (CSE), a Canadian marketplace for publicly traded companies.

CEO Dustin Zinger said the transaction expands SonicStrategy’s digital asset holdings and provides access to parts of the ecosystem, including the on-chain options platform Hypercall.

The SYN is held in custody controlled by the company. SonicStrategy may use the tokens for staking, validator nodes and digital asset infrastructure operations, or sell or convert them to fund operating expenses.