Purpose Ether Staking Corp. ETF (formerly Ether Capital Corporation) (Cboe CA: ETHC) (the “Fund” or “ETHC”) announced today the completion of the previously announced strategic transaction involving ETHC, Purpose Unlimited Inc. (“Purpose Unlimited”) and Purpose Investments Inc. (“Purpose Investments”) contemplated by the framework agreement dated May 2, 2024, pursuant to which, among other things, the Fund has converted into an exchange-traded fund managed by Purpose Investments following shareholder approval, conditional listing approval, and the satisfaction of other closing conditions set out in the framework agreement and described in the management information circular of ETHC dated May 7, 2024 (the “Circular”) (the “Transaction”). For further information in respect of the Transaction, please refer to the Circular, which is available on SEDAR+ at www.sedarplus.ca.
Shareholders do not need to take any action for their common shares to convert into non-voting, redeemable, participating ETF Shares (“ETF Shares”), as such conversion has taken place automatically in connection with completion of the Transaction.
The previous directors and officers of ETHC have resigned effective on closing of the Transaction, and the following individuals have been elected by Purpose Ether Staking Corp. Voting Trust, the beneficial and registered owner of the issued and outstanding voting shares of the Fund, as the directors of the Fund: Som Seif, Douglas G. Hall, Randall C. Barnes and Jean M. Fraser.
It is expected that the ETF Shares will begin trading on Cboe Canada on June 17th, 2024, under the ticker “ETHC.B”.
About Purpose Investments
Purpose Investments is an asset management company with approximately $20 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.
Certain statements in this document may be forward-looking. Forward-looking statements ("FLS") are statements that are predictive in nature, depend on or refer to future events or conditions, or that include words such as "may,” "will,” "should,” "could,” "expect,” "anticipate,” "intend,” "plan,” "believe,” "estimate" or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are, by their nature, based on numerous assumptions. Although the FLS contained in this document are based upon what Purpose Investments believes to be reasonable assumptions, Purpose Investments cannot assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on the FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed, that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.
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