The information (Information) contained herein must be kept strictly confidential and may not be reproduced or redistributed in whole or in part, in any format, without the express written approval of Ayanda Trading Limited (Ayanda Capital). By accepting this document, you acknowledge and agree that all the Information contained in this document is proprietary to Ayanda Capital and will be kept strictly confidential by you. 


You should make your own investigations and evaluations of the Information. The Information is being provided to you at your request solely for informational purposes about Ayanda Capital and may not be used or relied on for any purpose (including, without limitation, as legal, tax or investment advice) without the express written approval of Ayanda Capital.


The Information is not an offer to buy or sell, nor is it a solicitation of an offer to buy or sell, any advisory services or security or to participate in any advisory services or trading strategy. If any offer and sale of securities is made, it will be pursuant to offering materials. Any decision to make an investment should be made after reviewing such offering materials, conducting such investigations as the investor deems necessary and consulting the investor’s own investment, legal, accounting and tax advisors in order to make an independent determination of the suitability and consequences of an investment.

Except where otherwise indicated, the Information is based on matters as they exist as of the date of preparation and not as of any future date and will not be updated or otherwise revised to reflect information that subsequently becomes available, or circumstances existing or changes occurring after the date hereof.

Certain statements reflect Ayanda Capital’s views, estimates, opinions or predictions (which may be based on proprietary models and assumptions, including, in particular, Ayanda Capital’s views on the current and future market for digital assets), and there is no guarantee that these views, estimates, opinions or predictions are currently accurate or that they will be ultimately realized. To the extent these assumptions or models are not correct or circumstances change, the actual performance of Ayanda Capital and its subsidiaries may vary substantially from, and be less than, the estimated performance. None of Ayanda Capital nor any of its respective affiliates, shareholders, partners, members, directors, officers, management, employees or representatives makes any representation or warranty, express or implied, as to the accuracy or completeness of any of the Information or any other information (whether communicated in written or oral form) transmitted or made available to you. Each of the aforementioned parties expressly disclaims any and all liability relating to or resulting from the use of the Information or such other information.

Ayanda Capital does not provide tax, accounting or legal advice. Notwithstanding anything to the contrary, each recipient of this Information, and each employee, representative or other agent of such recipient may disclose to any and all persons, without limitation of any kind, the U.S. income and franchise tax treatment and the U.S. income and franchise tax structure of the transactions contemplated hereby and all materials of any kind (including opinions or other tax analyses) that are provided to such recipient relating to such tax treatment and tax structure insofar as such treatment and/or structure relates to a U.S. income or franchise tax strategy provided to such recipient by Ayanda Capital.

Certain information contained herein constitutes forward-looking statements, which can be identified by the use of terms such as“may”, “will”, “should”, “expect”, “anticipate”, “project”, “estimate”, “intend”, “continue” or “believe” (or the negatives thereof) or other variations thereof. Due to various risks and uncertainties, including those discussed above, actual events or results, the ultimate business or activities of Ayanda Capital or the actual performance of Ayanda Capital may differ materially from those reflected or contemplated in such forward-looking statements. As a result, investors should not rely on such forward-looking statements in making their investment decisions. Any interests in Ayanda Capital or any affiliate that may be offered or sold have not been and will not be registered under the applicable securities laws of the United States, Canada or any other jurisdiction. Consequently, any interests in Ayanda Capital or any affiliate may not be offered, sold or otherwise transferred within the United States or to, or for the account or benefit of, “U.S. persons” as defined in Regulation S under the U.S. Securities Act of 1933, as amended, absent registration or an exemption from registration thereunder. No public offering of any shares in the Ayanda Capital or any affiliate is being or has been, made in the United States.

None of the Information has been filed with the U.S. Securities and Exchange Commission, any securities administrator under any state securities laws or any other governmental or self-regulatory authority. No governmental authority has opined on the adequacy of the information contained herein. Any representation to the contrary is a criminal offence in the United States.


Neither Ayanda Capital nor any of its affiliates is, or expects to be, registered as an investment company under the U.S. Investment Company Act of 1940, as amended (the Investment Company Act), and purchasers of any securities will not be entitled to the benefits of the Investment Company Act.

Certain information contained herein (including financial information) has been obtained from published and non-published sources. Such information has not been independently verified by Ayanda Capital, and Ayanda Capital does not assume responsibility for the accuracy of such information.


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Nathan Engelbrecht: nathan@ayandatrading.com

Harry Fawcett: harry@ayandatrading.com

© 2019 Ayanda Trading.