PANews reported on May 9 that according to Globenewswire, medical service provider SRx Health Solutions, Inc. (NYSE American: SRXH) announced that it spent $1.5 million to purchase Solana tokens (SOL) to advance its asset diversification strategy. The company has previously planned to allocate no more than 10% of its cash flow and cash reserves to cryptocurrencies such as Bitcoin (BTC) and Solana (SOL) as well as physical gold and silver in the future. Adesh Vora, chairman of the company, said that in addition to existing funds, it will continue to increase its allocation of crypto assets through asset sales, cooperation and financing, and explore the introduction of crypto incentive programs in the pharmacy business.
In addition, the company plans to set up a cryptocurrency lending subsidiary, intending to mortgage its Halo brand assets and future earnings to accept cryptocurrency financing such as Solana and Bitcoin. This move is aimed at avoiding equity dilution to obtain operating funds, and the funds will be used for Halo brand marketing. The plan is still in the conceptual stage, and the company will further discuss implementation details with the crypto community.
