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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 CANADA OR 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 BITCOIN FUND (THE “FUND”) IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.
Dubai: 23 June 2021: 3iQ Corp., Canada’s largest digital asset investment fund manager with more than C$2.5 billion in assets under management, today officially listed The Bitcoin Fund, (Trading Symbol: QBTC), on Nasdaq Dubai, the region’s international exchange. The regulated Bitcoin-based exchange traded product is the Middle East and North Africa’s (MENA) first listed digital asset-based fund. The listing of the fund, which leverages Dubai’s world-class regulatory environment that supports new economy business and investment growth, reinforces the city’s position as a driving force for capital market transformation.
Managed by 3iQ, the Fund offers investors an indirect exposure to Bitcoin by trading its units within a world-class regulated and transparent exchange environment as well as the opportunity for long-term capital appreciation through a convenient alternative to a direct investment in the crypto currency.
To celebrate the listing, Frederick Pye, Chairman and CEO of 3iQ Corp. rang the Nasdaq Dubai market opening bell in the presence of Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO of DFM, as well as other senior representatives of 3iQ and its advisory firms.
“Our expansion into the Middle East is now official as The Bitcoin Fund has been listed on Nasdaq Dubai as of today. When we launched the Fund in Toronto last year, an expansion into the Middle East was always in the plans and we are extremely proud to have achieved that milestone here today in Dubai. We believe that The Bitcoin Fund is poised to offer tremendous value to regional investors looking to diversify their portfolio with this asset class through a regulated listing,” said Frederick Pye, Chairman and CEO, 3iQ Corp.
The dual-listing of the Fund enables investors to transfer their units from the Toronto Stock Exchange to Nasdaq Dubai (and vice versa) as well as to acquire units directly on Nasdaq Dubai. 3iQ has appointed Dalma Capital and Canaccord Genuity as the joint-lead arrangers for the regional offering of the Fund (subject to regulatory approval). BHM Capital has also been appointed as the Fund’s Liquidity Provider.
Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai, said: “Nasdaq Dubai, a leader in capital market transformation in the MENA region, -is committed to maintaining the highest international standards and best practices for the benefit of market participants. We are confident that our all-inclusive exchange environment places us in an excellent position to attract further listings, whether they are traditional capital markets issuances or alternative investment vehicles.”
Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO of DFM, said: “We are delighted that 3iQ has chosen the robust regulatory framework and enhanced regulations and infrastructure of Nasdaq Dubai as the listing venue for its Bitcoin Fund. This significant step is a push forward for Dubai’s relentless efforts to meet and exceed the evolving needs and requirements of investors, who are looking for seamless accessibility to this new asset class as well as to diversify investment opportunities for investors in the UAE and beyond.”
“We were always confident in The Bitcoin Fund from 3iQ and have seen strong support from key institutions in the region. We remain steadfast in our belief in The Bitcoin Fund as a broader alternative investment vehicle that will offer a more efficient and regulated option for regional investors to access the asset class,” said Zachary Cefaratti, CEO, Dalma Capital.
“Our firm has been part of the journey with 3iQ since inception, in Canada, having led or co-led all of its public offerings on the Toronto Stock Exchange to-date. Today we are proud to be able to partner with them on this landmark moment in the UAE,” said Sachin Mahajan, Head of MENASA, Canaccord Genuity.
3iQ has also appointed a number of other advisors in various capacities to support with the listing; 01 Capital, a London-based corporate finance advisor for the origination and execution of the listing, Razlin Capital a London-based investment firm for advice on the listing, and Pinsent Masons LLP as its legal counsel for the listing process.
Founded in 2012, 3iQ Corp. (“3iQ”) is Canada’s largest digital asset investment fund manager with more than C$2.5 billion in assets under management. 3iQ was the first Canadian investment fund manager to offer a public listed bitcoin investment fund, The Bitcoin Fund (TSX:QBTC, QBTC.U). 3iQ offers investors convenient and familiar investment products to gain exposure to digital assets. For more information about 3iQ and The Bitcoin Fund, visit www.3iQ.ca or follow us on Twitter @3iQ_corp.
Nasdaq Dubai is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as global issuers that seek regional and international investment. The exchange currently lists shares, derivatives, Sukuk (Islamic bonds), conventional bonds and Real Estate Investment Trusts (REITS).
The majority shareholder of Nasdaq Dubai is Dubai Financial Market with a two-thirds stake. Borse Dubai owns one third of the shares. The regulator of Nasdaq Dubai is the Dubai Financial Services Authority (DFSA). Nasdaq Dubai is located in the Dubai International Financial Centre (DIFC).
Dalma Capital Management Limited is a global alternative investment platform and accelerator focused on alpha generating strategies with an inherent edge in emerging investment strategies and markets. Established in 2011 and headquartered in the Dubai International Finance Centre, Dalma Capital’s goal is to identify the next generation of alpha generating ‘edge’ fund managers, strategies and opportunities.
Dalma Capital is authorized and supervised by the Dubai Financial Services Authority (the “DFSA”) under a prudential category 3c license. The DFSA has no responsibility for reviewing or verifying any documents in connection with the Fund and, accordingly, has not approved this document nor taken any steps to verify the information set out herein and has no responsibility for it.
01 Capital is a London based corporate finance boutique. The firm has deep roots in traditional finance coupled with extensive knowledge of the new digital economy and first-hand experience with numerous digital asset projects. 01 Capital’s range of services includes capital markets advisory, corporate finance, network and token economics, fundraising, and consulting.
Razlin Capital is a London-based, FCA regulated boutique investment advisory firm. The Razlin team is comprised of seasoned financial market professionals with backgrounds in Emerging and Frontier Markets sales, trading, investment advisory, deal making, and listing services. Together the team has over 100 years of experience of introducing esoteric and lesser-known capital markets to institutional investors around the globe. Razlin’s focus is to continue to build the bridge between the world of traditional finance and the world of emerging digital assets.
Pinsent Masons is an international law firm headquartered in London with 26 offices globally. The firm has been in the Middle East for over thirty-five years. Headed by partner Tom Bicknell, the firm’s regional financial services team advises on capital markets, financial regulation, digital assets and fund management.
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 CANADA OR 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 Canada or 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 Canada, the United States or any other jurisdiction. The Fund’s securities have not been and will not be qualified for distribution under applicable securities legislation in Canada (“Canadian Securities Laws”), or 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 Canada or the United States, absent registration or an applicable exemption from, or except in a transaction not subject to, the registration requirements of Canadian Securities Laws or the Securities Act, as applicable, 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.
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You will usually pay brokerage fees to your dealer if you purchase or sell units of the Fund on a stock exchange or other alternative trading system (an “exchange”). If the units of the Fund are purchased or sold on an exchange, investors may pay more than the current net asset value when buying units 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 units 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. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements contained in this document constitute forward-looking information within the meaning of Canadian Securities Laws. Forward-looking information may relate to matters disclosed in this document and anticipated events or results and may include statements regarding the future financial performance of the fund’s managed by 3iQ. 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 vary from such forward-looking information. 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.