TORONTO, Nov. 14, 2017 (GLOBE NEWSWIRE) — ThreeD Capital Inc. (the “Company”) (CSE:IDK) is pleased to announce that it has completed a non-brokered private placement (the “Offering”), pursuant to which it has issued 8,025,000 units (“Units) at a price of $0.20 per Unit to raise aggregate gross proceeds of $1,605,000. Each Unit consists of one common share of the Company and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to acquire one additional common share of the Company at an exercise price of $0.25 until November 14, 2020.
All securities issued and issuable in connection with the Offering are subject to a statutory hold period expiring on March 15, 2018. Proceeds of the Offering will be used for investment purposes and general working capital.
The Company is also pleased to announce that a total of 6,650,000 common shares have been issued as a result of the exercise of common share purchase warrants since October 25, 2017 at a weighted average price of $0.11 per common share. This results in $717,500 of aggregate proceeds to the Company. The exercise of these warrants represent a strong vote of confidence by our shareholders and proceeds from the exercised warrants will be used for investment purposes.
About ThreeD Capital Inc.
ThreeD Capital Inc. is a publicly-traded Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources, Artificial Intelligence and Blockchain sectors.
ThreeD seeks to invest in early stage, promising companies where it may be the lead investor and can additionally provide investees with advisory services, mentoring and access to the Company’s network in order to earn increases to the Company’s equity stake.
For further information:
Gerry Feldman, CPA, CA
Chief Financial Officer and Corporate Secretary