ThreeD Capital Inc. Announces Completion of Private Placement to Raise $590,000
TORONTO, Jan. 28, 2020 (GLOBE NEWSWIRE) — ThreeD Capital Inc. (the “Company”) (CSE:IDK), a Canadian-based venture capital firm focused on investments in promising, early stage companies and ICOs with disruptive capabilities, is pleased to announce that it has completed a non-brokered private placement (the “Offering”), pursuant to which it has issued 19,666,666 units (“Units”) at a price of $0.03 per Unit, to raise aggregate gross proceeds of $590,000. 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 $0.05 until January 28, 2023.
All securities issued and issuable in connection with the Offering are subject to a statutory hold period expiring on May 29, 2020. Insiders of the Company subscribed for an aggregate of 5,566,666 Units pursuant to the Offering. Proceeds of the Offering will be used for investment purposes and general working capital.About ThreeD Capital Inc.ThreeD 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 and ICOs where it may be the lead investor and can additionally provide investees with advisory services, mentoring and access to the Company’s ecosystem.