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TORONTO, Dec. 10, 2020 (GLOBE NEWSWIRE) — 3iQ Corp. is happy to announce that The Ether Fund (the “Fund”) has accomplished its preliminary public providing of seven,240,000 Class A Models and Class F Models for mixture gross proceeds of roughly US$76.5 million (the “Providing”). The Class F Models had been reclassified into Class A Models instantly upon the closing of the Providing. The Class A Models will start buying and selling right now on the Toronto Inventory Alternate beneath the image QETH.U.
The Fund’s funding targets are to supply holders of models of the Fund with:
(a) publicity to the digital foreign money Ether and the every day value actions of the U.S. greenback value of Ether, and
(b) the chance for long-term capital appreciation.
3iQ Corp. acts because the funding supervisor and portfolio supervisor of the Fund.
The syndicate of brokers for the Providing was 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.
Ether is the native digital asset to the Ethereum blockchain, a decentralized platform for cash and new varieties of monetary functions. The idea of Ethereum was developed in Canada in 2013 and subsequently launched by a bunch 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 buyers with publicity to digital property. 3iQ manages The Bitcoin Fund (TSX: QBTC, QBTC.U) in addition to a personal fund, the 3iQ World Cryptoasset Fund. The personal fund holds bitcoin, Ether and litecoin and is obtainable to accredited buyers 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$500 million in property beneath administration. 3iQ was the primary Canadian funding fund supervisor to supply a public bitcoin funding fund, The Bitcoin Fund. Getting access to digital property resembling bitcoin may be daunting, expensive, and inconvenient. 3iQ provides buyers handy and acquainted funding merchandise to achieve publicity to digital property. For extra details about 3iQ, go to our web site at www.3iQ.ca or comply with us on Twitter @3iQ_corp.
Sure statements contained on this information launch represent forward-looking data throughout the that means of Canadian securities legal guidelines. Ahead-looking data could relate to issues disclosed on this information launch and to different issues recognized in public filings relating to the Fund, to the long run outlook of the Fund and anticipated occasions or outcomes and should embrace statements concerning the long run monetary efficiency of the Fund. In some circumstances, forward-looking data may be recognized by phrases resembling “could”, “will”, “ought to”, “count on”, “plan”, “anticipate”, “consider”, “intend”, “estimate”, “predict”, “potential”, “proceed” or different comparable expressions regarding issues that aren’t historic information. Precise outcomes could differ materially from outcomes indicated in forward-looking data for various causes, together with the chance elements recognized within the Fund’s prospectus dated December 1, 2020. Traders shouldn’t 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 replace or revise them to mirror new occasions or circumstances, except in any other case required by regulation.
The securities provided haven’t been registered beneath the U.S. Securities Act of 1933, as amended, and will not be provided or offered in the USA 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 by which such supply, solicitation or sale can be illegal.
Fred Pye – President and CEO
P: +1 (416) 639-2130