Evolve Announces 0% Management Fee on the Evolve Solana ETF Expected to Begin Trading on April 16, 2025

TORONTO, April 14, 2025 /CNW/ - Evolve Funds Group Inc. ("Evolve" or the "Manager") is pleased to announce that it has filed a final prospectus and plans to eliminate the annual management fee on the Evolve Solana ETF ("SOLA" or the "Evolve Fund"). SOLA aims to offer investors exposure to the digital currency, Solana. SOLA is expected to begin trading on the Toronto Stock Exchange ("TSX") on April 16, 2025 under the ticker symbols SOLA (CAD Unhedged) and SOLA.U (USD), subject to TSX approval. The effective annual management fee on SOLA for the remainder of the calendar year ending December 31, 2025, will be zero basis points (0.00%)*.

"In recent months, we have followed the rapid growth of Solana in both developer activity and real-world applications," says Elliot Johnson, Chief Investment Officer and Chief Operating Officer at Evolve. "We are impressed by its scalability and comparatively low transaction costs. This momentum positions it as an attractive opportunity for a broad range of investors. We're proud to contribute to adoption by offering investors the ability to hold Solana in an ETF with zero management fees for the remainder of the year in their brokerage accounts."

SOLA's investment objective is to provide unitholders of the Evolve Fund with exposure to the daily price movements of the U.S. dollar price of Solana while experiencing minimal tracking error by utilizing the benefits of the creation and redemption processes offered by the exchange traded fund structure.

To achieve its investment objectives, the Evolve Fund will invest in long-term holdings of Solana, purchased through Coinbase and/or other reputable Solana trading platforms and OTC counterparties, in order to provide investors with a convenient, secure alternative to a direct investment in Solana. The Evolve Fund will not speculate with regard to short-term changes in Solana prices.

The Evolve Fund may also, subject to any required regulatory approval, stake Solana held in its portfolio in order to earn rewards for the Evolve Fund, which rewards will, following the deduction of applicable fees and expenses, accrue to the Evolve Fund's NAV for the benefit of Unitholders. The Manager intends to initially target staking up to 50% of the Solana held in the portfolio of the Evolve Fund.

The Evolve Fund's portfolio will be priced based on, and the Evolve Fund's NAV will be calculated using, the CME CF Solana-Dollar Reference Rate. The CME CF Solana-Dollar Reference Rate is a once-a-day benchmark index price for Solana denominated in U.S. dollars.

The Evolve Fund is offering the following units:

Evolve Fund	USD Units	CAD Units
SOLA	✓	✓

SOLA will not use derivatives and does not intend to pay regular cash distributions. The Evolve Fund does not seek to hedge any foreign currency exposure in respect of either the USD Units or the CAD Units.

As it is the Evolve Fund's intention to invest in Solana on a passive basis, the Evolve Fund's holdings will not be actively managed and accordingly, will not be hedged or repositioned to attempt to take defensive positions if the price of Solana declines or is expected to decline, and it is not the intention of the Evolve Fund to attempt to predict increases in the price of Solana in order to increase returns.

* as of January 1, 2026 a 1.00% management will apply to the Evolve Solana ETF.

About Evolve Funds Group Inc.
With $7 billion in assets under management, Evolve specializes in bringing innovative ETFs to Canadian investors. Evolve's suite of ETFs provide investors with access to: (i) index-based income strategies; (ii) long term investment themes; and (iii) some of the world's leading investment managers. Established by a team of industry veterans with a demonstrated ability to succeed, Evolve creates investment products that make a difference. Learn more at www.evolveetfs.com.

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Evolve Funds Group Inc. is the investment fund manager and portfolio manager. Evolve Solana ETF ("SOLA") will be offered by Evolve Funds Group Inc., and distributed through authorized dealers.

The information contained herein is a general description and is not intended to be specific investment advice to any particular investor nor intended to be investment or tax advice. You should not act or rely on the information contained herein without seeking the advice of an appropriate professional advisor.

Commissions, trailing commissions, management fees and expenses all may be associated with exchange traded funds (ETFs) and mutual funds. Please read the prospectus before investing. There are risks involved with investing in ETFs and mutual funds. Please read the prospectus for a complete description of risks relevant to the ETF and mutual fund. Investors may incur customary brokerage commissions in buying or selling ETF and mutual fund units. Investors should monitor their holdings, as frequently as daily, to ensure that they remain consistent with their investment strategies.

Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to a future outlook and anticipated distributions, events or results and may include statements regarding future financial performance. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "anticipate", "believe", "intend" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Evolve undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law.

SOURCE Evolve Funds Group Inc.

CONTACT INFORMATION: Evolve ETFs, [email protected], t. 416.214.4884, tf. 1.844.370.4884; MEDIA CONTACT: Keith Crone, [email protected], 416.966.8716