NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
TORONTO, April 09, 2020 (GLOBE NEWSWIRE) — 3iQ Corp. is pleased to announce that The Bitcoin Fund (the “Fund”) has completed both its initial public offering of units and its merger with 3iQ Bitcoin Trust, as a result of which the Fund now has 1,491,800 Class A Units outstanding representing at closing total assets of approximately US$14 million. The Class A Units will commence trading today 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 investment 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.
3iQ is a Canadian investment fund manager focused on providing investors with exposure to digital assets.
Founded in 2012, 3iQ is currently focused on digital assets, disruptive technologies and the blockchain space. For further information, please visit our website at www.3iQ.ca or contact Frederick T. Pye (514) 775-0010.
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 March 31, 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.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.