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TORONTO, Dec. 03, 2020 (GLOBE NEWSWIRE) — 3iQ Corp. is happy to announce that The Ether Fund (the “Fund”) has filed with the securities regulatory authorities in all the provinces and territories of Canada and obtained a receipt for its ultimate prospectus in relation to an preliminary public providing of Class A Items at a value of US$10.75 per Class A Unit and Class F Items at a value of US$10.53 per Class F Unit (the “Providing”). The Toronto Inventory Alternate (“TSX”) has conditionally accredited the itemizing of the Class A Items below the image “QETH.U”, topic to the achievement of TSX necessities. Class F Items won’t be listed on a inventory change however will likely be reclassified as Class A Items instantly upon the closing of the Providing.
The minimal measurement of the Providing is US$20,000,009.50 and the utmost measurement of the Providing is US$107,500,000.00. The deadline of the Providing is anticipated to be December 10, 2020.
The Fund’s funding aims are to offer holders of Items with:
(a) publicity to the digital foreign money Ether and the each day value actions of the U.S. greenback value of Ether, and
(b) the chance for long-term capital appreciation.
3iQ Corp. will act because the funding supervisor and portfolio supervisor of the Fund.
The syndicate of brokers for the Providing is being led by Canaccord Genuity Corp. and consists of Richardson Wealth Restricted, Echelon Wealth Companions Inc., Leede Jones Gable Inc., Mackie Analysis Capital Company and PI Monetary Corp. (collectively, the “Brokers”).
Ether is the native digital asset to the Ethereum blockchain, a decentralized platform for cash and new sorts of monetary functions. The idea of Ethereum was developed in Canada in 2013 and subsequently launched by a gaggle of technologists from all around the world. With a market capitalization of over $65 billion as of December 2, 2020, Ether is the second largest digital asset behind bitcoin.
3iQ is a Canadian funding fund supervisor targeted on offering traders with publicity to digital belongings. 3iQ manages The Bitcoin Fund (TSX: QBTC, QBTC.U) in addition to a personal fund, the 3iQ International Cryptoasset Fund. The non-public fund holds bitcoin, Ether and litecoin and is on the market to accredited traders in Canada or in reliance upon different exemptions from the prospectus necessities.
Based in 2012, 3iQ is Canada’s largest digital asset funding fund supervisor with greater than C$400 million in belongings below administration. 3iQ was the primary Canadian funding fund supervisor to supply a public bitcoin funding fund, The Bitcoin Fund. Having access to digital belongings reminiscent of bitcoin will be daunting, pricey, and inconvenient. 3iQ affords traders handy and acquainted funding merchandise to achieve publicity to digital belongings. For extra details about 3iQ, go to our web site at www.3iQ.ca or comply with us on Twitter @3iQ_corp.
This providing is barely made by the prospectus of the Fund dated December 1, 2020. The prospectus comprises essential data relating to those securities. Copies of the prospectus could also be obtained from any of the Brokers or at www.sedar.com. Buyers ought to learn the prospectus earlier than investing determination.
Sure statements contained on this information launch represent forward-looking data inside the which means of Canadian securities legal guidelines. Ahead-looking data might relate to issues disclosed on this information launch and to different issues recognized in public filings referring to the Fund, to the longer term outlook of the Fund and anticipated occasions or outcomes and will embody statements concerning the longer term monetary efficiency of the Fund. In some circumstances, forward-looking data will be recognized by phrases reminiscent of “might”, “will”, “ought to”, “count on”, “plan”, “anticipate”, “imagine”, “intend”, “estimate”, “predict”, “potential”, “proceed” or different comparable expressions regarding issues that aren’t historic info. Particularly, this information launch consists of forward-looking data referring to the anticipated completion of the Providing. Precise outcomes might differ materially from outcomes indicated in forward-looking data for plenty of causes, together with the failure to shut the transactions referenced on this information launch on the phrases and situations at present contemplated by the Fund, or in any respect, as properly the chance components recognized within the Fund’s prospectus dated December 1, 2020. Buyers mustn’t place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to replace or revise them to mirror new occasions or circumstances, except in any other case required by legislation.
The securities supplied haven’t been registered below the U.S. Securities Act of 1933, as amended, and is probably not supplied or bought in america absent registration or any relevant exemption from the registration necessities. This information launch doesn’t represent a suggestion to promote or the solicitation of a suggestion to purchase securities nor will there be any sale of such securities in any state through which such provide, solicitation or sale can be illegal.
Fred Pye – President and CEO
P: +1 (416) 639-2130