ThreeD Capital Inc. Announces Private Placement Financing
The Private Placement will consist of the sale of up to 10,500,000 units of the Company ('Units') at a price of $0.06 per Unit, for total gross proceeds raised of $630,000. Each Unit is comprised of one common share and one common share purchase warrant (a 'Warrant'). Each whole Warrant entitles the holder thereof to acquire one common share of the Company at an exercise price of $0.15 per common share for a period of 60 months. No commission or finders' fees are expected paid as part of the Private Placement.
All securities issued and issuable in connection with the Private Placement will be subject to a four-month and a day hold period. Proceeds received from the Private Placement are intended to be used for general working capital purposes and purchase of investments.
In connection with the Private Placement, certain directors of the Company (collectively the 'Insiders'), intend to purchase a total of 10,500,000 Units. Insiders' participation in the Private Placement constitutes a 'related party transaction' pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ('MI 61-101'). The Company is relying on the exemption from the valuation and minority shareholder approval requirements under MI 61-101, as the fair market value of the Insiders' participation in the Private Placement does not exceed 25% of the market capitalization of the Company.
The Private Placement remains subject to the approval of the Canadian Securities Exchange.
About ThreeD Capital Inc.
ThreeD is a publicly-traded Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors. ThreeD's investment strategy is to invest in multiple private and public companies across a variety of sectors globally. ThreeD seeks to invest in early stage, promising companies where it may be the lead investor and can additionally provide investees with advisory services and access to the Company's ecosystem.
For further information:
Matthew Davis, CPA
Chief Financial Officer and Corporate Secretary
info@threedcap.com
Phone: 416-941-8900
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
Forward-Looking Statements
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as 'forward-looking statements') within the meaning of Canadian securities laws including, without limitation, statements with respect to the future investments by the Company. All statements other than statements of historical fact are forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur. Although the Company believes that the expectations reflected in the forward looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause the Company's actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
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