Toronto, Sept. 03, 2020 (GLOBE NEWSWIRE) — (TSX: QBTC.U) 3iQ Corp. (“3iQ”) is pleased to announce that The Bitcoin Fund has completed a round of private placements of 241,320 units approved by the Toronto Stock Exchange (TSX). The Bitcoin Fund is currently open for daily subscriptions to accredited investors. Following a four-month holding period, investors in the private placement may elect to sell their shares on the TSX under the ticker symbol: QBTC.U.
The Bitcoin Fund’s investment objectives are to provide holders of units with:
(a) exposure to bitcoin priced in U.S. dollars, and
(b) the opportunity for long-term capital appreciation.
The Bitcoin Fund will acquire assets from reputable bitcoin trading platforms and OTC counterparties, in order to provide investors with a convenient, secure alternative to a direct investment in bitcoin. Gemini, a trust company licensed by the New York State Department of Financial Services, will act as sub-custodian of the Fund’s assets. We believe an investment in bitcoin will provide investors with a low-correlated asset class which will complement traditional investment strategies.
3iQ is the investment fund manager and portfolio manager of The Bitcoin Fund. For further information regarding the Fund, please visit www.3iq.ca or email Fred Pye, President and CEO of 3iQ at fred.pye@3iQ.ca.
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. 3iQ was the first Canadian investment fund manager to agree to terms and conditions with the Canadian securities regulatory authorities to manage a public bitcoin investment fund and multi-cryptoasset fund for Canadian accredited investors. Our experienced team of financial professionals are committed to providing innovative investments of institutional quality. Digital assets are a significant new technology that seek to revolutionize both currency and application development through blockchain and distributed computing methodologies. Access to these new technologies can be daunting, costly, and inconvenient. 3iQ has worked through a stringent regulatory process to offer investors convenient and familiar investment products to gain exposure to digital assets. We have partnered with thought leaders and best-in-class service providers in this area to build secure products that aim to generate positive long-term capital gains for investors looking to hold investments in digital assets.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. The prospectus contains important information relating to these securities. Copies of the prospectus may be obtained from Canaccord Genuity Corp. or any of the Agents. Investors should read the prospectus before making an investment decision. 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. In particular, this news release includes forward-looking information relating to the anticipated completion of the Offering. Actual results may differ materially from results indicated in forward-looking information for a number of reasons, including the failure to close the transactions referenced in this news release on the terms and conditions currently contemplated by the Fund, or at all, as well the risk factors identified in the Fund’s prospectus. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no 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. This press release is not for distribution in the United States newswire servicesor for dissemination in the United States.