ThreeD Capital Announces Proposed Private Placemen

TORONTO, Oct. 16, 2017 (GLOBE NEWSWIRE) -- ThreeD Capital Inc. (“ThreeD” or the “Company”) (CSE:IDK) announces today that it is proposing to complete a non-brokered private placement to sell up to 10 million units (“Units”) at a price of $0.10 per Unit, for aggregate gross proceeds of up to $1,000,000 (the “Financing”).  Each Unit will consist of one common share of the Company and one common share purchase warrant (a “Warrant”).  Each Warrant will entitle the holder to acquire one additional common share of the Company at an exercise price of $0.15 per share for a period of 36 months following the closing date of the Financing.   Up to 33% of the Financing may be purchased by insiders of ThreeD.

The gross proceeds of the offering will be used for general and administrative expenses and the purchase of investments.  Completion of the offering is subject to regulatory approval, including the approval of the Canadian Securities Exchange.  The common shares and Warrants issued will be subject to a four-month hold period from the date of the closing of the Financing.  The Financing is expected to close by October 31, 2017.

The Company also wishes to announce it has formed an advisor group composed of mainly outside consultants to help with due diligence and deal flow relating to potential Blockchain Investments. 

About ThreeD Capital Inc.

ThreeD is a publicly-traded Canadian-based venture capital firm focused on opportunistic investments in companies in the resource, technology and biotechnology markets.