Coinsquare Capital Markets Ltd. (“Bitbuy”) is offering crypto contracts to purchase and sell Zcash (ZEC) in reliance on a prospectus exemption granted by the Canadian Securities Administrators (CSA) in the amended and restated exemptive relief decision dated October 11, 2024. The statutory rights of action for damages and the right of rescission in section 130.1 of the Securities Act (Ontario) and similar legislation in the other CSA jurisdictions do not apply in respect of a misrepresentation in this statement to the extent that a crypto contract is distributed under the above-noted prospectus relief.

No securities regulatory authority in Canada or any other jurisdiction has expressed an opinion about any of the crypto assets (or crypto contracts) that are available through Coinsquare’s platform, including an opinion that the crypto assets are not themselves securities and/or derivatives.

Coinsquare has compiled the information contained in this Crypto Asset Statement to the best of its ability based on publicly available information.

ZCash is a privacy-focused Layer 1 cryptocurrency with a fixed supply of 21 million units. It uses zero-knowledge proofs to verify transaction integrity without disseminating wallet and transaction history. It was founded in 2016 by Zooko Wilcox-O'Hearn. The original code base was partly based on Bitcoin, with changes primarily to enable more transaction privacy.

As with all assets, investing in ZEC is not without some general risks. Many of these risks are identified and explained in our Risk Statement. In addition to the general risks, we outline some risks that are specific to ZEC below. While we make an effort to identify every source of risk, we encourage you to do your own research and ensure you are comfortable investing in ZEC.

Due to the private nature of all transactions on ZCash, assets held in custody have unknown provenance further back that the original transaction between CCML and its Liquidity Providers. CCML conducts due diligence on all Liquidity Provider partners before trading with them.

The privacy-first design of ZCash puts it in a category commonly referred to as “privacy coins”. There is a risk that in the future a domestic or international regulator may target ZCash founders, investors, holders, miners or other associated entities. This may negatively impact the future value of ZCash, or the ability to sell any ZCash in the future, including ZCash bought from CCML and/or held in custody by CCML.