3iQ Acquires Management of First Block Capital’s Funds; First Block Capital Makes Investment in 3iQ

crypto3iQ Corp., a Canadian investment fund manager focused on technologies and the cryptoasset space, signed a Letter of Intent (LOI) to acquire the rights to manage First Block Capital (FBC)’s funds.

First Block Capital (FBC)’s funds includes the FBC Bitcoin Trust (NEO: FBCBT) and FBC Distributed Ledger Technology Adopters ETF (NEO: FBCN).
The FBC Bitcoin Trust offers Canadians a tax-efficient exposure to the cryptocurrency. The transaction will not affect the ability for Accredited Investors to purchase the FBC Bitcoin Trust on NEO Connect or its eligibility for RRSP and TFSA accounts.

Separately to the LOI, First Block Capital will be making a strategic investment in 3iQ to aid in its mission to create innovative investment products of institutional quality.

Founded in 2012 and led by Fred Pye, President & CEO, and Howard Atkinson, Chairman, 3iQ is a Canadian investment fund manager focused on providing innovative investment products of institutional quality. The company currently manages the 3iQ Global Cryptoasset Fund, a private investment fund which holds bitcoin, ether and litecoin and is eligible for investment by accredited investors in Canada or in reliance on other exemptions from the prospectus requirement.

Led by Sean Clark, CEO, First Block Capital is a Canadian dedicated cryptocurrency and blockchain investment company investing its own and investors’ capital exclusively in cryptocurrency and blockchain opportunities to provide exposure to the emerging digital currency asset class based on blockchain technology.

FinSMEs

05/04/2019

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