Toronto, Ontario--(Newsfile Corp. - June 1, 2022) - 3iQ Corp. ("3iQ") announced today that, as of May 31, 2022, being the cut-off date relating to both the annual redemption feature of The Ether Fund (the "Fund") as well as the voluntary conversion option to the 3iQ CoinShares Ether ETF (the "ETF"): 1,388,852 units of the Fund (each, a "Unit"), representing 12.95% of the outstanding Units, were surrendered for in-kind redemption on June 16, 2022 (the "Annual Redemption Date"), 104,321 Units, representing 0.97% of the outstanding Units, were surrendered for cash redemption on the Annual Redemption Date, and 3,577,550 Units (the "Conversion Units"), representing 33.35% of the outstanding Units, were surrendered for conversion to units of the ETF ("ETF Units").
The Conversion Units will be converted to 15,143,262 ETF Units on June 1, 2022, on a relative net asset value basis (NAV-for-NAV), resulting in a new total of 35,893,262 outstanding ETF Units and assets under management in the 3iQ CoinShares Ether ETF of C$355,892,460.
Under the terms of the annual redemption of the Fund, the redemption price per Unit will be determined by 3iQ on the Annual Redemption Date and Unitholders who have redeemed Units can expect to receive payment of the redemption price per Unit on or before July 8, 2022. Further details will be announced on June 17, 2022 following the Annual Redemption Date.
About 3iQ Corp.
Founded in 2012, 3iQ Corp. (3iQ) is Canada's largest digital asset investment fund...
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