Ninepoint Announces Shareholder Approval of Change to Investment Objectives of Ninepoint Bitcoin ETF
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TORONTO, April 20, 2023 (GLOBE NEWSWIRE) — Ninepoint Partners LP, the manager (the “boss” or “Nine points”) by Ninepoint Bitcoin ETF (“Nine Points Bitcoin ETF” or “Fund”) (TSX: BITC; BITC.U), is pleased to announce that the special meeting (“Special meeting”) of unit owners in the fund (the “Unit owners”) was held today.
At the Special Meeting, the Unitholders approved the previously announced change to the investment objectives of the Ninepoint Bitcoin ETF to seek to provide Unitholders with capital appreciation by investing in a diversified portfolio consisting primarily of equity and equity-related securities of companies providing investors. exposure to new technologies such as Web3, the blockchain and digital asset-enabled internet.
Web3 is a new vision of the Internet, which includes concepts such as decentralization, digital assets and blockchain technologies. As with previous eras of the web, the companies that harness its potential can have an impact on every industry in the economy from finance to telecommunications, energy, media and more.
“As with previous eras of the Internet, Web3 promises to transform business, culture and society in profound ways. There will be winners and losers as leaders of the old paradigm make way for tomorrow’s Web3 champions,” said Alex Tapscott, CEO, Digital Asset Group at Ninepoint.
“With the launch of the Ninepoint Web3 Innovators Fund, investors will have a way to participate directly in the potential of Web3 by investing in companies that are leveraging this transformational technology,” commented John Wilson, Ninepoint’s co-CEO and Managing Partner.
Subject to compliance with the Toronto Stock Exchange (“TSX”) requirements and all other necessary regulatory approvals, the change in the fund’s investment objective will be implemented on or around 31 May 2023 (the “Effective date“). On the Effective Date, the Fund will also change its investment strategies, its name to Ninepoint Web3 Innovators Fund and its ticker to TSX: TKN; TKN.U to better reflect the fund’s new investment goals. The Fund will continue to trade on the TSX under the applicable ticker symbols until the Effective Date.
About Ninepoint Partners LP
Based in Toronto, Ninepoint Partners LP is one of Canada’s leading alternative investment management firms overseeing approximately $8 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to increase returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies spanning equities, fixed income, alternative income, real equity, f/x and digital assets. Ninepoint Digital Asset Group is a division of Ninepoint.
For more information about Ninepoint, please visit www.ninepoint.com or for questions regarding the Ninepoint Bitcoin ETF, please contact us at (416) 362-7172 or 1 (888) 362-7172 or [email protected].
Certain statements included in this press release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expects”, “intends”, “anticipates”, “will” and similar expressions to the extent they relate to the Fund . The forward-looking statements are not historical facts, but reflect Ninepoint’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that may cause actual results or events to deviate significantly from current expectations. Although Ninepoint believes that the assumptions contained in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place reliance on such statements due to the uncertainty inherent therein. Neither the Fund nor Ninepoint undertakes any obligation to publicly update or otherwise revise any forward-looking statement or information, whether as a result of new information, future events or other such factors affecting such information, except as required by the law.
