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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.io or contact Frederick T. Pye (514) 775-0010.