Valour sale of forked assets received following the Ethereum Merge: transition to Proof-of-Stake

Overview
In light of Ethereum’s successful transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS), a fork event occurred in which a separate protocol (EthereumPoW) was created with duplicated fund (ETHW) balances. Following extensive collaboration with its counterparties, Valour can confirm that it has consolidated its full pro-rated ETHW allocation, with net proceeds being reinvested into the underlying asset of Valour’s Ethereum Zero certificate products, namely, the native ETH of the upgraded chain. This change will be reflected through an adjustment to the NAV (Net Asset Value) of both Valour Ethereum Zero certificates (SEK and EUR denominated), scheduled to be updated on 19 October 2022.

Valour Ethereum Zero
Valour’s Ethereum Zero products (Valour Ethereum Zero SEK, ISIN: CH1104954362 and Valour Ethereum Zero EUR, ISIN: CH0585378752) enable investors to gain exposure to Ethereum with zero management fees. The referenced asset under Valour’s certificate program continues to track the underlying asset (ETH) of the upgraded Proof-of-Stake blockchain, known as the Beacon Chain.

The Merge
The first phase of Ethereum’s long awaited upgrade successfully completed on 15th September 2022. For Valour’s previous communications on the Ethereum upgrade, please refer to Valour’s initial statement (here), further clarification (here), and outlined action on forked assets (here).

About Valour
Valour Inc. is a technology company and the first and only publicly traded company that bridges the gap between traditional capital markets and decentralised finance. Founded in 2019, Valour is backed by an acclaimed and pioneering team with decades of experience in financial markets and digital assets. Valour's mission is to expand investor access to industry-leading Web3 and decentralised technologies. This allows investors to access the future of finance via regulated equity exchanges using their traditional bank account and access. For more information, please visit www.valour.com

Disclaimer: This document is not an offer to sell or a solicitation of an offer to buy or subscribe for securities issued by Valour. Neither this document nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. This document constitutes advertisement and not a prospectus. Eligible potential investors should read the 2021 Base Prospectus (EU) and the relevant Final Terms before making an investment decision in order to understand the potential risks associated with the decision to invest in the securities. This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the development of the Issuer; investor interest in Valour’s ETPs; geographic expansion and additional listings of Valour’s ETP offerings; the regulatory environment with respect to the growth and adoption of decentralised finance; the pursuit by Valour its business opportunities; and the merits or potential returns of any such opportunities. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Valour, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but is not limited to success of the Issuer; the acceptance of Valour ETPs by exchanges, including the NGM, Börse Frankfurt and Euronext; investor demand for Valour’s products; growth and development of DeFi and cryptocurrency sector; rules and regulations with respect to DeFi and cryptocurrency; general business, economic, competitive, political and social uncertainties. Although Valour has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Valour does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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