Taren Point, Australia, September 23rd, 2025, Chainwire
Fitell Corporation (NASDAQ: FTEL) (“Fitell” or the “Company”), a global provider of fitness equipment and health solutions, today announced it has secured an up to $100M facility to support the launch of its Solana treasury strategy, marking the first Solana-based digital asset treasury in Australia.
Key Highlights
● DeFi and Yield Roadmap: Designed to generate outsized yields by deploying SOL assets across a diversified suite of on-chain DeFi and derivatives strategies. This includes structured products such as options, snowballs, on-chain liquidity provisioning, and other highly liquid strategies with managed downside risk. Each approach offers varying levels of returns, alpha generation, and duration. Returns generated will be reinvested into the treasury reserve, compounding the velocity of SOL accumulation, increasing SOL-per-share and strengthening alignment with the Solana community.
● Australian Dual Listing: Fitell has initiated steps toward a dual listing on the Australian Securities Exchange (ASX), broadening access and exposure for regional investors to SOL.
● Rebrand: Following the initial launch of the Solana treasury, the Company plans to rebrand to “Solana Australia Corporation”.
● Security: Initial SOL assets will be custodied with BitGo Trust Company, Inc. in the U.S. and staked through institutional-grade infrastructure.
Digital Asset Treasury
Advisors Fitell has appointed David Swaney and Cailen Sullivan as advisors to lead the Company’s digital asset treasury roadmap. Their mandate focuses on designing strategies to optimize treasury performance through decentralized finance (DeFi) opportunities, risk management frameworks, and yield innovation beyond traditional staking models.
● David Swaney has been active in the digital asset space since 2017, focusing on institutional adoption of on-chain finance. His extensive advisory and consulting experience spans treasury design, structured yield strategies, and market infrastructure.
● Cailen Sullivan has been active in the digital asset space for over a decade and was an early hire at Coinbase in 2013. Recently, he has been primarily focused on investing and supporting projects across the Solana ecosystem, and is a co-founder of Adrena, one of the leading perpetuals DEXs on Solana based on trading volume.
About Fitell Corporation
Fitell Corporation, through GD Wellness Pty Ltd (“GD”), its wholly owned subsidiary, is an online retailer of gym and fitness equipment both under its proprietary brands and other brand names in Australia. The company’s mission is to build an ecosystem with a whole fitness and wellness experience powered by technology to our customers. GD has served over 100,000 customers with large portions of sales from repeat customers over the years. The Company’s brand portfolio can be categorized into three proprietary brands under its Gym Direct brand: Muscle Motion, Rapid Motion, and FleetX, in over 2,000 stock-keeping units (SKUs). For additional information, please visit the Company’s website at www.fitellcorp.com. Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties, including market and other conditions, and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.
Contact
Chief Financial Officer
Edwin Tam
edwin@gymdirect.com.au
Disclaimer: Press release sponsored by our commercial partners.