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 manager with more than C$1.8 billion in assets under management . 3iQ was the first Canadian investment fund manager to offer a public bitcoin investment fund, The Bitcoin Fund (TSX: QBTC) (TSX: QBTC.U), and a public ether investment fund, The Ether Fund (TSX: QETH.UN)(TSX: QETH.U). More recently, 3iQ launched the 3iQ CoinShares Bitcoin ETF (TSX: BTCQ) (TSX: BTCQ.U) and the 3iQ CoinShares Ether ETF (TSX: ETHQ) (TSX: ETHQ.U). 3iQ offers investors convenient and familiar investment products to gain exposure to digital assets.

For more information about 3iQ:
Visit us at 3iQ.ca
Twitter: @3iQ_corp
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Press Contact:
Tara Christie
E: tarac@3iQ.ca
P: +1 (416) 639-2130

Please read the prospectus before investing. Important information about The Ether Fund and the 3iQ CoinShares Ether ETF (together, the "Funds") is contained in the prospectus. Copies of the prospectus may be obtained from 3iQ Corp. or at .

You will usually pay brokerage fees to your dealer if you purchase or sell units of the Funds on a stock exchange or other alternative Canadian trading system (an "exchange"). If units of the Funds are purchased or sold on an exchange, investors may pay more than the current net asset value when buying units of the Funds and may receive less than the current net asset value when selling them.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated.

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 Funds' 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.

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 Ether Fund or the 3iQ CoinShares Ether ETF in any jurisdiction in which any such offer or solicitation would be unlawful.

Not for distribution to U.S. newswire services or for dissemination in the United States.

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