3iQ Seeks to Deliver North America's First Solana ETP

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.

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SOURCE 3iQ

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