TORONTO – March 2, 2023 –– Ninepoint Partners LP, the manager (the “Manager” or “Ninepoint”) of Ninepoint Bitcoin ETF (“Ninepoint Bitcoin ETF” or the “Fund”) (TSX: BITC; BITC.U), announced today its proposal to change the investment objectives of Ninepoint Bitcoin ETF, subject to approval by the holders of units of the Fund (“Unitholders”) at a special meeting (the “Meeting”) to be held on or about April 20, 2023.
Ninepoint Bitcoin ETF’s current investment objectives are to seek to provide Unitholders with exposure to digital currency Bitcoin through an institutional-quality platform that is cost-efficient to Unitholders and to provide a secure, simpler and exchange-traded investment alternative for buying and holding Bitcoin. Subject to Unitholder approval at the Meeting, Ninepoint proposes changing the investment objectives of the Fund to be to seek to provide Unitholders with capital appreciation by investing in a diversified portfolio comprised primarily of equity and equity-related securities of companies that give investors exposure to emerging technologies such as Web3, the blockchain and digital asset-enabled internet. The change to the Fund’s investment objectives is subject to Unitholder approval at the Meeting, acceptance by the Toronto Stock Exchange and all other required regulatory approvals. If approved, the change to the investment objectives will be implemented in May 2023. The Fund will also change its investment strategies, its name to Ninepoint Web3 Innovators Fund, and its tickers to TSX: TKN; TKN.U to better reflect the Fund’s new investment objectives.
Web3 is a new vision of the internet, incorporating concepts such as decentralization, digital assets and blockchain technologies. As with previous eras of the web, the companies that harness its potential could have an impact on every industry in the economy from finance to telecommunication, energy, media and beyond.
Further details surrounding the proposed change to the Fund’s investment objectives and the other changes that would occur together with this change will be outlined in the Fund’s notice of special meeting of Unitholders and management information circular that will be prepared and delivered to Unitholders in connection with the Meeting and will be available under the Fund’s profile on www.sedar.com.
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 enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies spanning Equities, Fixed Income, Alternative Income, Real Assets, F/X and Digital Assets. Ninepoint Digital Asset Group is a division of Ninepoint.
For more information on Ninepoint, please visit www.ninepoint.com or for inquiries regarding Ninepoint Bitcoin ETF, please contact us at 416.362.7172 or 1.888.362.7172 or email@example.com.