The Ether Fund Completes Initial Public Offering

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

TORONTO, Dec. 10, 2020 (GLOBE NEWSWIRE) -- 3iQ Corp. is pleased to announce that The Ether Fund (the "Fund") has completed its initial public offering of 7,240,000 Class A Units and Class F Units for aggregate gross proceeds of approximately US$76.5 million (the "Offering"). The Class F Units were reclassified into Class A Units immediately upon the closing of the Offering. The Class A Units will commence trading today on the Toronto Stock Exchange under the symbol QETH.U.

The Fund's investment objectives are to provide holders of units of the Fund with:

(a) exposure to the digital currency Ether and the daily price movements of the U.S. dollar price of Ether, 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 led by Canaccord Genuity Corp. and includes Richardson Wealth Limited, Echelon Wealth Partners Inc., Leede Jones Gable Inc., Mackie Research Capital Corporation and PI Financial Corp.

Ether is the native digital asset to the Ethereum blockchain, a decentralized platform for money and new kinds of financial applications. The concept of Ethereum was developed in Canada in 2013 and subsequently launched by a group of technologists from all over 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 investment fund manager focused on providing investors with exposure to digital assets. 3iQ manages The Bitcoin Fund (TSX: QBTC, QBTC.U) as well as a private fund, the 3iQ Global Cryptoasset Fund. The private fund holds bitcoin, Ether and litecoin and is available to accredited investors in Canada or in reliance upon other exemptions from the prospectus requirements.

Founded in 2012, 3iQ is Canada's largest digital asset investment fund manager with more than C$500 million in assets under management. 3iQ was the first Canadian investment fund manager to offer a public bitcoin investment fund, The Bitcoin Fund. Gaining access to digital assets such as bitcoin can be daunting, costly, and inconvenient. 3iQ offers investors convenient and familiar investment products to gain exposure to digital assets. For more information about 3iQ, visit our website at www.3iQ.ca or follow us on Twitter @3iQ_corp.

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 December 1, 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.

?Contact Information
Fred Pye - President and CEO
E: [email protected]
P: +1 (416) 639-2130