Global Leader in Digital Assets Files
Preliminary Prospectus for The Solana Fund in
Canada
TORONTO, June 20,
2024 /CNW/ -- 3iQ Corp. ("3iQ"), a global pioneer in
digital asset investment solutions and one of the largest
investment fund managers dedicated exclusively to digital assets in
Canada, is pleased to announce
that The Solana Fund (the "Fund") has filed a
preliminary prospectus with the securities regulatory authorities
in all of the provinces and territories of Canada (except for Québec) in relation to an
initial public offering of Class A units and Class F units of the
Fund (the "Offering"). 3iQ has also applied to list the Class A
units of the Fund on the Toronto Stock Exchange ("TSX") under the
ticker "QSOL". The Fund seeks to become the first
Solana ("SOL") exchange-traded product ("ETP") to be
listed in North America. To learn
more about the Fund, visit 3iq.io/solana.
The Fund's investment objectives are to seek to provide
unitholders with:
- exposure to the digital currency SOL and the daily price
movements of the U.S. dollar price of SOL; and
- the opportunity for long-term capital appreciation.
3iQ will serve as the investment manager and
portfolio manager of the Fund. The agent for the Offering
is Canaccord Genuity Corp. (the "Agent"), with Tetra Trust
Company and Coinbase Custody Trust Company, LLC
serving as custodians of the Fund. When available, 3iQ expects to
stake the SOL held in the Fund's portfolio in order to earn rewards
for the Fund, which rewards will, following the deduction of
applicable fees, be reinvested in the Fund for the benefit of the
unitholders.
The Fund will represent another trailblazing
industry first in 3iQ's well-established history of leadership and
innovation in digital assets. 3iQ launched both The
Bitcoin Fund (TSX: QBTC) and The Ether Fund (TSX:
QETH), as the first publicly traded bitcoin and ether
funds in Canada. Additionally, The
Ether Fund and the 3iQ Ether Staking ETF (TSX: ETHQ) became the
first ETPs in North America to
include staking ether as part of their investment strategies.
"3iQ seeks to set a global standard of excellence
and we're proud to work closely with the securities regulatory
authorities to responsibly enhance the digital asset investment
landscape in Canada," said Greg
Benhaim of 3iQ. "As pioneers in digital asset investment
management, we look forward to continuing our mission to deliver
regulated investment vehicles – embodying the highest standards and
working with best-in-class partners – for individual and
institutional investors to efficiently access the growing
crypto asset class."
SOL is the native digital asset to the
Solana blockchain, a decentralized
network designed for high-performance decentralized
applications (dApps) and smart contracts. Often
considered as a contender to Ethereum,
Solana boasts impressive transaction speeds and
scalability. Launched in 2020, SOL has become a significant player
in the development of smart contracts, attracting developers and
users with its fast processing and proof-of-stake consensus
mechanism. Currently the second-largest smart contract platform by
market capitalization and trading volume, Solana
offers a robust environment for the next generation of
decentralized finance (DeFi) applications
and is the natural next choice of digital asset for 3iQ to
structure into an ETP.
About 3iQ Corp.
Founded in 2012, 3iQ is one of the world's leading digital asset
investment fund managers, offering investors convenient and
familiar investment products to gain exposure to digital assets.
3iQ was the first Canadian investment fund manager to offer
public bitcoin investment funds: The
Bitcoin Fund (TSX: QBTC) (TSX: QBTC.U) and the 3iQ
Bitcoin ETF (TSX: BTCQ) (TSX: BTCQ.U), as well as
public ether investment funds: The Ether Fund (TSX: QETH.UN) (TSX:
QETH.U) and the 3iQ Ether Staking ETF (TSX: ETHQ) (TSX: ETHQ.U). To
learn more about 3iQ, visit 3iq.io.
Disclosure:
The preliminary prospectus of the Fund, dated June 20, 2024, contains important information
relating to the securities of the Fund and has been filed with
securities commissions or similar authorities in all of the
provinces and territories of Canada (except for Québec). The preliminary
prospectus is still subject to completion or amendment. Copies of
the preliminary prospectus may be obtained from the Agent or at
www.sedarplus.ca. There will not be any sale or any acceptance of
an offer to buy the Class A units or Class F units of the Fund
until a receipt for the final prospectus has been issued by the
relevant securities commissions in Canada. Investors should read the prospectus
before making an investment decision.
You will usually pay brokerage fees to your dealer if you
purchase or sell securities of the Fund on a stock exchange or
other alternative Canadian trading system (an "exchange"). If the
securities of the Fund are purchased or sold on an exchange,
investors may pay more than the current net asset value when buying
securities of the Fund and may receive less than the current net
asset value when selling them.
There are ongoing fees and expenses associated with owning
securities of an investment fund. An investment fund must prepare
disclosure documents that contain key information about the fund.
You can find more detailed information about the Fund in its public
filings available at www.sedarplus.ca. Investment funds are not
guaranteed, their values change frequently and past performance may
not be repeated.
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 preliminary prospectus
dated June 20, 2024. 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.
IMPORTANT NOTICES
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED THEREIN, IS
RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM
THE UNITED STATES OR ANY
JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.
This announcement should not be distributed, forwarded,
transmitted or otherwise disseminated in or into the United States. This announcement does not
constitute an offer to sell or issue or the solicitation of an
offer to buy or subscribe for securities in the United States or any other jurisdiction.
The Fund's securities have not been and will not be registered
under the United States Securities Act of 1933, as amended (the
"Securities Act"), or under the applicable securities laws of any
state or other jurisdiction of the United
States, and may not be offered, sold, resold, transferred or
delivered, directly or indirectly within, into or in the United States, absent registration or an
applicable exemption from, or except in a transaction not subject
to, the registration requirements of the Securities Act and in
compliance with the securities laws of any relevant state or other
jurisdiction of the United States.
Neither this announcement, nor the fact that it has been
disseminated, shall form the basis of, or be relied upon in
connection with, any future information that we distribute.
Not for distribution to U.S. newswire services or for
dissemination in the United
States.
This announcement and the information contained herein is
restricted and is not for release, publication or distribution, in
whole or in part, directly or indirectly in, or into or from
the United States or any other
jurisdiction in which the same would be unlawful. Further, this
announcement is for information purposes only and shall not
constitute an offer to sell or issue or the solicitation to buy,
subscribe for or otherwise acquire any securities of the Fund in
any jurisdiction in which any such offer or solicitation would be
unlawful.
Media Contacts
Ryan
Graham, JConnelly
862-777-4274
rgraham@jconnelly.com
Julie Mercuro, JConnelly
973-349-6471
jmercuro@jconnelly.com
SOURCE 3iQ
