Initial Open Market Purchase Includes 678,353 INJ Tokens Worth $8.9 Million
Milestone Marks Launch of Pineapple's Ambition to Become the Largest INJ Holder
Toronto, Ontario--(Newsfile Corp. - October 7, 2025) - Pineapple Financial Inc. (NYSE American: PAPL) ("Pineapple" or the "Company"), a leading fintech platform, today announced the completion of its first open market purchase of Injective ($INJ) tokens, acquiring 678,353 $INJ tokens worth approximately $8.9 million. This transaction marks the official commencement of Pineapple's Injective Digital Asset Treasury (DAT) strategy.
As publicly disclosed on September 5, 2025, Pineapple completed a $100 million private placement to establish its Injective DAT. This initial acquisition represents the first in a series of planned open market purchases. Additional deployments are anticipated in the days and weeks ahead as Pineapple executes its strategy to become the world's largest holder and staker of $INJ. All of the Company's newly acquired $INJ will be staked onchain, transforming the treasury into a yield-generating asset expected to earn an annual reward of approximately 12.75%, representing a significant, new recurring revenue stream for the Company. This expected yield is approximately 2 times higher than Ethereum and about 1.8 times higher than Solana staking rates, under current network conditions.
"This initial Injective investment underscores our conviction in the strength of the $INJ token's future and our ambition to create the world's largest and most productive INJ treasury platform," said Shubha Dasgupta, Chief Executive Officer of Pineapple Financial. "This transaction marks the first of many milestones, as we establish ourselves as a pioneering DAT company and work to achieve our vision to bring Pineapple's mortgage finance business onchain using Injective's financial infrastructure."
"We're excited to see Pineapple take this important first step in executing its Injective treasury strategy," said Eric Chen, co-founder of Injective Labs. "By aligning its core business with Injective's infrastructure, Pineapple is helping accelerate the adoption of onchain finance while reinforcing Injective's role as a leading blockchain purpose-built for financial applications."
In addition to building its INJ treasury, Pineapple intends to integrate Injective's decentralized financial infrastructure into its core mortgage finance operations, including data, servicing, settlement, and real-world asset tokenization. As Pineapple continues to accumulate INJ tokens and build out its DAT, the Company remains committed to transparency regarding future acquisitions, staking activity, and other related developments as it advances its strategy of becoming the premier onchain mortgage finance platform.
About Pineapple Financial Inc.
Pineapple Financial Inc. is an award-winning fintech and leading Canadian mortgage brokerage network, focusing on both the long-term success of agents and brokers as well as the overall experience of homeowners. With hundreds of brokers within the network, Pineapple creates cutting-edge cloud-based tools and AI-driven systems to enable its brokers to help Canadians realize their dream of owning a home. Pineapple is active within the community and is proud to sponsor charities across Canada to improve the lives of fellow Canadians.
Safe Harbor Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. They 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 economic needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other 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 that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions, fluctuations in the market price of INJ and any associated impairment charges that we may incur as a result of a decrease in the market price of INJ below the value at which INJ is carried on our balance sheet; changes in the accounting treatment relating to our INJ holdings; the Company's financial condition, customer acceptance of our INJ treasury strategy, and other factors discussed in the "Risk Factors" section of the registration statements, and periodic reports filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results. It encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov.
Media Contact:
Kristin Cwalinski
Email: pineapple@kcsa.com
Investor Relations:
Jack Perkins
Email: pineapple@kcsa.com
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