Solana Company Announces It Has Applied To Canadian Securities Regulators For An Order To Cease Being A Reporting Issuer In All Canadian Jurisdictions

Solana Company (NASDAQ:HSDT) ("Solana" or the "Company") today announced that it has applied to the British Columbia Securities Commission, as principal regulator, and the Ontario Securities Commission, for an order under the securities legislation of British Columbia and Ontario (the "Requested Order") that the Company has ceased to be a reporting issuer in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Québec, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador, being the jurisdictions in Canada in which the Company is currently a reporting issuer (the "Canadian Jurisdictions"). The Class A common stock of Solana was voluntarily delisted from the Toronto Stock Exchange on September 9, 2021, but the Company has remained a reporting issuer in the Canadian Jurisdictions since such delisting.

If the Requested Order is granted, the Company will cease being a reporting issuer in the Canadian Jurisdictions. As a result, the Company will no longer be required to file financial statements and other continuous disclosure documents in the Canadian Jurisdictions pursuant to Canadian securities laws. Solana will continue to file all financial statements and other continuous disclosure materials required to be filed by the Company in accordance with applicable U.S. securities law and the rules of The Nasdaq Stock Market LLC.