The Bitcoin Fund Completes US$48 Million Offering

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

TORONTO, May 08, 2020 (GLOBE NEWSWIRE) — 3iQ Corp. is pleased to announce that The Bitcoin Fund (the “Fund”) has completed its previously announced offering of Class A Units and Class F Units at a price of US$11.87 per Class A Unit and US$11.63 per Class F Unit for total gross proceeds of approximately US$48 million.  The Class F Units were reclassified as Class A Units on a one-for-one basis on the date hereof. The Class A Units are listed and posted for trading on the Toronto Stock Exchange under the symbol QBTC.U.

The Fund’s investment objectives are to provide holders of units of the Fund with:

(a) exposure to the digital currency bitcoin and the daily price movements of the U.S. dollar price of bitcoin, and

(b) the opportunity for long-term capital appreciation.

3iQ Corp. acts as the manager and portfolio manager of the Fund.

The syndicate of agents for the Offering was co-led by Canaccord Genuity Corp. and Echelon Wealth Partners Inc., and includes Leede Jones Gable Inc., Mackie Research Capital Corporation and PI Financial Corp. (collectively, the “Agents”). The Fund has granted the Agents an option to purchase up to an additional 15% of the Class A Units issued on the closing date of the Offering, on the same terms and conditions, exercisable in whole or in part, for a period of 30 days from the date of this news release.

Founded in 2012, 3iQ is a Canadian investment fund manager focused on providing investors with exposure to digital assets, disruptive technologies and the blockchain space. For further information, please visit our website at www.3iQ.ca or contact Frederick T. Pye at fpye@3iq.ca. In addition to the Fund, 3iQ manages a private digital asset fund which is eligible for investment by accredited investors in Canada or in reliance on other exemptions from the prospectus requirement.

Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this news release and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may differ materially from results indicated in forward-looking information for a number of reasons, including the risk factors identified in the Fund’s prospectus dated May 4, 2020. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and neither 3iQ Corp. nor the Fund assumes any obligation to update or revise them to reflect new events or circumstances, unless otherwise required by law.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release shall not constitute an offer to sell or the solicitation of an offer to buy in the United States or to, or for the account or benefit of, persons in the United States or U.S. Persons nor shall there by any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

2020-10-08T01:11:52-04:00 May 8th, 2020|