GLOBAL X ANNOUNCES SEMI-MONTHLY JUNE 2025 DISTRIBUTIONS FOR ITS SUITE OF ETFs Français
(1)
Distributions for Global X Bitcoin Covered Call ETF are declared and paid in Canadian dollars, including those listed under the U.S. dollar traded ticker BCCC.U. The approximate U.S. dollar equivalent distribution rate for BCCC.U is $0.10245 per security. For securityholders who hold the U.S. dollar traded BCCC.U, the securityholder's account holder will typically convert distribution payments to U.S. dollars.
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Distributions for Global X Enhanced Bitcoin Covered Call ETF are declared and paid in Canadian dollars, including those listed under the U.S. dollar traded ticker BCCL.U. The approximate U.S. dollar equivalent distribution rate for BCCL.U is $0.12805 per security. For securityholders who hold the U.S. dollar traded BCCL.U, the securityholder's account holder will typically convert distribution payments to U.S. dollars.
Distributions for the ETFs will vary from period to period. For further information regarding the Distributions, please visit www.GlobalX.ca.
About Global X Investments Canada Inc. (www.GlobalX.ca)
Global X Investments Canada Inc. is an innovative financial services company and offers one of the largest suites of exchange traded funds in Canada. The Global X Fund family includes a broadly diversified range of solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. Global X has more than $41 billion of assets under management and 142 ETFs listed on major Canadian stock exchanges. Global X is a wholly-owned subsidiary of the Mirae Asset Financial Group, which manages more than $900 billion of assets across 19 countries and global markets around the world.
Commissions, management fees, and expenses all may be associated with an investment in products (the "Global X Funds") managed by Global X Investments Canada Inc. The Global X Funds are not guaranteed, their values change frequently, and past performance may not be repeated. Certain Global X Funds may have exposure to leveraged investment techniques that magnify gains and losses which may result in greater volatility in value and could be subject to aggressive investment risk and price volatility risk. Such risks are described in the prospectus. The Global X Money Market Funds are not covered by the Canada Deposit Insurance Corporation, the Federal Deposit Insurance Corporation, or any other government deposit insurer. There can be no assurances that the money market fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the Funds will be returned to you. Past performance may not be repeated. The prospectus contains important detailed information about the Global X Funds. Please read the relevant prospectus before investing.
The payment of distributions, if any, is not guaranteed and may fluctuate at any time. The payment of distributions should not be confused with an exchange traded fund's ("ETF") performance, rate of return, or yield. If distributions paid by the ETF are greater than the performance of the ETF, distributions paid may include a return of capital and an investor's original investment will decrease. A return of capital is not taxable to the investor but will generally reduce the adjusted cost base of the securities held for tax purposes. Distributions are paid as a result of capital gains realized by an ETF, and income and dividends earned by an ETF are taxable to the investor in the year they are paid. The investor's adjusted cost base will be reduced by the amount of any returns of capital. If the investor's adjusted cost base goes below zero, investors will realize capital gains equal to the amount below zero. Future distribution dates may be amended at any time. To recognize that these distributions have been allocated to investors for tax purposes the amounts of these distributions should be added to the adjusted cost base of the units held. The characterization of distributions, if any, for tax purposes, (such as dividends/other income/capital gains, etc.) will not be known for certain until after the ETF's tax year-end. Therefore, investors will be informed of the tax characterization after year-end and not with each distribution if any. For tax purposes, these amounts will be reported annually by brokers on official tax statements. Please refer to the applicable ETF distribution policy in the prospectus for more information.
The Global X Bitcoin Covered Call ETF (BCCC) and the Global X Enhanced Bitcoin Covered Call ETF (BCCL) are each exchange traded alternative mutual funds that invest in other alternative mutual funds that invest, directly or indirectly, in Bitcoin. There are inherent risks associated with products linked to crypto assets, including Bitcoin Futures. While Bitcoin Futures are traded on a regulated exchange and cleared by regulated central counterparties, direct or indirect exposure to the high level of risk of Bitcoin Futures will not be suitable for all types of investors. Given the speculative nature of bitcoin and the volatility of the digital currency markets, there is no assurance that BCCC or BCCL will be able to meet their respective investment objectives. An investment in BCCC or BCCL is not intended as a complete investment program and is appropriate only for investors who have a sophisticated knowledge and understanding of Bitcoin and the capacity to absorb a loss of some or all of their investment. An investment in either BCCC or BCCL is considered high risk.
Certain statements may constitute a forward-looking statement, including those identified by the expression "expect" and similar expressions (including grammatical variations thereof). The forward-looking statements are not historical facts but reflect the author's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking statements. These forward-looking statements are made as of the date hereof and the authors do not undertake to update any forward-looking statement that is contained herein, whether as a result of new information, future events or otherwise, unless required by applicable law.
This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase exchange traded products managed by Global X Investments Canada Inc. and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies. These investments may not be suitable to the circumstances of an investor.
Global X Investments Canada Inc. ("Global X") is a wholly owned subsidiary of Mirae Asset Global Investments Co., Ltd. ("Mirae Asset"), the Korea-based asset management entity of Mirae Asset Financial Group. Global X is a corporation existing under the laws of Canada and is the manager and investment manager of the Global X Funds.
© 2025 Global X Investments Canada Inc. All Rights Reserved.
SOURCE Global X Investments Canada Inc.
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Calgary Herald
2 hours ago
- Calgary Herald
Trump could crush Canada's softwood exports. Here's how a new crisis could play out
Article content WASHINGTON, D.C. — The Canada-U.S. softwood lumber trade relationship has dealt with ups and downs, disputes and resolutions, for decades. Anxiety for Canadian exporters is reaching a fever pitch again as the U.S. threatens to more than double softwood lumber duties and add even steeper tariffs under a national security investigation. Article content Canadian foresters, mills, and governments that enjoy taxes, economic spinoffs and stumpage fees from Crown land will feel the pain if they lose too much access to the massive U.S. market. But larger producers have been preparing for just this kind of contingency and have cleverly hedged their bets, building capacity in the U.S., where they can sell as much as they want to Americans, tariff-free. Article content Article content Article content Canadian firms will soon receive word from the U.S. Commerce Department's Sixth Administrative Review (AR6) of U.S. countervailing and anti-dumping duties on Canadian softwood lumber exports, with the rate expected to jump from around 14 per cent to roughly 34 per cent. For Canfor, the Vancouver-based lumber giant selected as a mandatory respondent in the AR6 review, it will be even worse. Its duties are calculated based on its own shipments and prices, not an industry average, like it is for other companies. Article content Article content Then there's the threat of tariffs from President Donald Trump's ongoing national security investigation of Canadian lumber imports under Section 232 of the Trade Expansion Act, which he ordered in March and is due late this year. Currently, lumber shipments are exempted from Trump's baseline tariffs, because they're covered by the U.S.-Mexico-Canada trade deal (USMCA), but that could soon change based on the findings of the 232 probe. Article content Article content National Post breaks down the position of the two countries, what the impacts could be, and how Canadian producers are trying to mitigate the potential damage of punitive trade barriers. Article content Article content What American producers want Article content The U.S. Lumber Coalition is playing for keeps. It backs higher anti-dumping duties and tariffs for what it sees as a subsidized domestic industry. It claims Canadian producers don't pay market rates for stumpage because their forests are publicly owned and provincial governments set the stumpage rates, while U.S. producers face higher market rates. But it doesn't stop there: the U.S. coalition also wants to see Canada's U.S. market share significantly chopped. Article content Miller isn't shy about the goals: 'A countrywide quota with no exemptions and no carveouts, and a single-digit market share' for Canadian lumber. Article content Today, Canada has a 25 per cent market share, with exports of 12 billion feet of softwood lumber to the U.S. each year, according to the coalition. Softwood lumber accounts for about 7.5 per cent of Canadian exports; in 2023, the U.S. was the destination for 68 per cent of those forestry products. The whole industry is worth about $33.4 billion in sales annually and employs more than 200,000 workers across Canada, according to a report this year from RBC.
Vancouver Sun
2 hours ago
- Vancouver Sun
Trump could crush Canada's softwood exports. Here's how a new crisis could play out
WASHINGTON, D.C. — The Canada-U.S. softwood lumber trade relationship has dealt with ups and downs, disputes and resolutions, for decades . Anxiety for Canadian exporters is reaching a fever pitch again as the U.S. threatens to more than double softwood lumber duties and add even steeper tariffs under a national security investigation. Canadian foresters, mills, and governments that enjoy taxes, economic spinoffs and stumpage fees from Crown land will feel the pain if they lose too much access to the massive U.S. market. But larger producers have been preparing for just this kind of contingency and have cleverly hedged their bets, building capacity in the U.S., where they can sell as much as they want to Americans, tariff-free. Canadian firms will soon receive word from the U.S. Commerce Department's Sixth Administrative Review (AR6) of U.S. countervailing and anti-dumping duties on Canadian softwood lumber exports, with the rate expected to jump from around 14 per cent to roughly 34 per cent. For Canfor, the Vancouver-based lumber giant selected as a mandatory respondent in the AR6 review, it will be even worse. Its duties are calculated based on its own shipments and prices, not an industry average, like it is for other companies. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. 'Canfor's rate will be 45 per cent, plus or minus a per cent,' said Andrew Miller, chairman of Oregon-based Stimson Lumber and chair of the U.S. Lumber Coalition. 'So they'll get a kick in the teeth from the next round of duties.' Then there's the threat of tariffs from President Donald Trump's ongoing national security investigation of Canadian lumber imports under Section 232 of the Trade Expansion Act , which he ordered in March and is due late this year. Currently, lumber shipments are exempted from Trump's baseline tariffs, because they're covered by the U.S.-Mexico-Canada trade deal (USMCA), but that could soon change based on the findings of the 232 probe. National Post breaks down the position of the two countries, what the impacts could be, and how Canadian producers are trying to mitigate the potential damage of punitive trade barriers. The U.S. Lumber Coalition is playing for keeps. It backs higher anti-dumping duties and tariffs for what it sees as a subsidized domestic industry. It claims Canadian producers don't pay market rates for stumpage because their forests are publicly owned and provincial governments set the stumpage rates, while U.S. producers face higher market rates. But it doesn't stop there: the U.S. coalition also wants to see Canada's U.S. market share significantly chopped. Miller isn't shy about the goals: 'A countrywide quota with no exemptions and no carveouts, and a single-digit market share' for Canadian lumber. Today, Canada has a 25 per cent market share, with exports of 12 billion feet of softwood lumber to the U.S. each year, according to the coalition. Softwood lumber accounts for about 7.5 per cent of Canadian exports; in 2023, the U.S. was the destination for 68 per cent of those forestry products . The whole industry is worth about $33.4 billion in sales annually and employs more than 200,000 workers across Canada, according to a report this year from RBC. If Trump stacked a 20 per cent tariff on top of the existing duties, driving down some of Canada's approximately 12 billion board feet of annual softwood exports to the U.S., Miller believes the U.S. industry could almost immediately replace at least two billion feet worth through quick operational changes. Incremental mill upgrades over three years could then add another three to four billion feet of production, he said. 'I really believe that within three years we would have replaced, through U.S. production of lumber, about half of what Canada currently exports to the U.S.,' he said, nodding to Trump's comments earlier this year about the U.S. not needing any Canadian lumber . The coalition is pushing for a tariff rate from the Section 232 investigation that starts at 15 to 20 per cent and goes higher from there. That, Miller explained, will incentivize U.S. sawmill owners struggling with thin margins to hire more people and invest in upgrades, bolstering U.S. production. This week, provincial leaders offered ways to settle the dispute. B.C. Premier David Eby said Canada is willing to consider a quota on exports to the U.S. for the first time , and New Brunswick Premier Susan Holt also said quotas are on the table as an option for trade negotiations. Miller, head of the American coalition, was far from impressed by Eby's comments. A quota might stabilize the market and secure jobs for Canadian workers, he said, but 'at whose expense?' His answer: 'U.S. mill workers.' '(Eby) is not serious about a settlement that is satisfactory to the coalition. He is floating a political trial balloon designed to derail the implementation of the AR6,' he said. Kurt Niquidet, president of the BC Lumber Trade Council, refused to comment on what his organization prefers by way of a solution. He said options included quotas, tariffs, or a hybrid approach. But he was clear that the industry wants Ottawa to resolve things with the U.S. quickly. 'We think that the federal government should be making this issue a priority and looking for a negotiated settlement,' he said. Niquidet argues that the U.S. already has 'housing affordability issues' and taxing or restricting Canadian lumber could only make things worse. 'If the trade measures are too punitive, it just serves to drive up the prices and the costs of lumber in the U.S.,' he said. That's why the National Association of Home Builders (NAHB), the trade association based in Washington, has been leading the charge to fight the duties and potential tariffs. It has repeatedly warned the White House that tariffs would only '(slow) down the domestic residential construction industry' at a time when Trump has vowed to address the country's 'severe housing shortage and affordability crisis.' In recent years, tariffs have increased the average home price by nearly US$11,000 because of recent tariffs, according to the April 2025 NAHB/Wells Fargo Housing Market Index, when the average home sticker price is just north of US$400,000. There are also about 3.5 million Americans who work in the residential housing sector, and millions more working in commercial and industrial construction. The NAHB has actively shared its concerns as part of the Section 232 investigation process and expressed concern that the U.S. lumber supply cannot meet the needed demand on its own anytime soon. Niquidet agrees. He said claims by the U.S. industry and the president that American producers can make up for lost Canadian supply are 'just not true.' The twist in all this is that a growing number of producers in the U.S. are actually Canadian-owned. Vancouver-based West Fraser started buying and investing in U.S. sawmills back in the early 2000s to diversify its assets and shore up supplies threatened in Canada by mountain pine beetles and wildfires. Others — including Canfor, Resolute and Interfor (whose U.S. operations are bigger than its Canadian ones) — followed suit in part to avoid trade barriers, the trend only accelerating in Trump's first term, when he imposed 20 per cent tariffs on Canadian softwood exports. Today, estimates are that Canadian lumber firms control as much 40 per cent of softwood lumber production capacity in the American South. In most cases, they've kept local families and employees in place, seamlessly taking over and often modernizing while keeping afloat many sawmills that might've otherwise gone under. When asked about the paradox of Canadian firms buying up U.S. sawmills, Miller doesn't have any concerns. 'A dollar invested in a U.S. sawmill is a dollar invested in a U.S. sawmill employing U.S. citizens operating that sawmill, cutting trees and shipping them,' he said. 'We don't care who operates them. You know, it's a free market.' (However, Miller said if foreign owners ever wanted to join the U.S. Lumber Coalition, which advocates against imports, it wouldn't allow them to.) The U.S. president has also repeatedly told foreign manufacturers that if they want to escape punitive trade measures, they should invest on U.S. soil and help ramp up domestic American production. '(Trump would) take that as a big victory,' Miller said of the lumber takeovers by Canadians. 'That's what he wants,' National Post tmoran@ Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark and sign up for our daily newsletter, Posted, here .
Toronto Sun
2 hours ago
- Toronto Sun
LEDREW: Canadians face 'democratic deficit' at crucial time in history
It is the fact that Canada is being run by one guy, Prime Minister Mark Carney, who calls all the shots, writes columnist Stephen LeDrew. Photo by Chris Young / The Canadian Press In Canada, we have a democratic deficit. And before you say 'so what?' realize that it is costing you a lot of money, liberties, and safety. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account First, what is the democratic deficit? It is the fact that Canada is being run by one guy, Prime Minister Mark Carney, who calls all the shots. In other democracies around the world, elected representatives are working as you read this. In France, committees of elected deputies are reviewing spending and budgets (we don't even have a budget). In Britain, MPs are in London, making trouble for the incompetent Labour government. In Washington, Members of Congress are is session, debating the issues of the day. Where are Canadian MPs? In their ridings, or on the beach. Yes, some are working with constituents, but what about holding the PM to account? They sat for four weeks in the spring, then left Ottawa, promising to return mid-September. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Who is making the decisions in the all-important battle with Trump, that will shape Canada for generations? Carney. Who is making decisions on spending? Carney. Who is making decisions on immigration? Carney. Who is making decisions on law and order matters? You guessed it: Carney. Now, as some readers will say, what about his cabinet? Except for a few strong ministers, Carney's cabinet has been reduced to a dispirited rag-tag band of MPs revelling in their good fortune of having been elevated, but with very little decision-making authority. This is not all the fault of Carney. It started with Trudeau One, and was finely-honed to its present autocracy by his son, delegating all decisions to his unelected assistants. Remember that Trudeau letter to senior government officials ordering them to accept all instructions from his close advisors as though that instruction came from Justin himself? This advertisement has not loaded yet, but your article continues below. But what about Parliament? Doesn't it really control the levers of government? Not since the time when it sat often, when the Opposition could hold the government to account, and the independent press ( Note: Press not given undisclosed buckets of cash by the government) would report on the success or failures of the government, for the voters to judge. Heard anything about any scandal or controversy coming out of question period lately? Not bloody likely: Parliament really doesn't matter anymore, even when it does sit. And it should, because, otherwise, we have left it up to the PM to make all the decisions. This is the man who declared in the campaign that his only assets were real estate and cash. This advertisement has not loaded yet, but your article continues below. Liar. This is the man who has written a best-seller (oh-so-tellingly entitled Virtues ), detailing the evils of oil and gas, who once convinced major banks to withhold financing from those murderous oil and gas companies, who claimed to be four-square with that nincompoop, anti-fuel Greta Thunberg, only now to be outed as holding shares of American oil and gas companies — personally profiting from the products that he has been declaring for years were dooming mankind. Such a hypocrite! Sort of like discovering that the Church of England has been paying for its ecclesiastical robes with cash from the sale of bullets! So doesn't it seem thoughtful and accountable and responsible and democratic that we should be listening to opinions on all the important matters that are on the government's plate at the moment, so the government might have the benefit of the thoughts of not only the elected MPs, but Canadian citizens? Debate on the most consequential issues in generations that need to be decided — like what kind of Canada are we building? A self-reliant country that can stand on its own two feet? A country where law and order outweighs the tribal battles of people who now fight in our streets?What a novel idea! Government by the people. We should try it. — Stephen LeDrew is host of The Three Minute Interview and the Stephen LeDrew Show on NewsForum Toronto & GTA Editorial Cartoons Toronto & GTA Toronto Blue Jays Columnists
