ThreeD Capital Inc. Launches Normal Course Issuer Bid Initiative
ThreeD Capital Inc. Launches Normal Course Issuer Bid Initiative
ThreeD Capital Inc. (CSE:IDK / OTCQX:IDKFF), a prominent Canadian venture capital firm, has proactively announced its plans to initiate a normal course issuer bid. This strategic decision underscores the company's commitment to enhancing shareholder value by potentially repurchasing its own shares on the Canadian Securities Exchange.
Details of the Normal Course Issuer Bid
The issuer bid is set to commence on September 23, 2024, and will continue until September 23, 2025. During this period, ThreeD Capital intends to acquire up to 2,843,554 common shares, which equates to approximately 5% of its total issued and outstanding shares. The repurchases will occur at prevailing market prices, reflecting a strategic move as ThreeD believes its shares are currently undervalued.
Implementation of the Share Buyback
ThreeD Capital has engaged Ventum Financial Corp. to facilitate these share purchases. The company is keen to make informed decisions regarding the timing and quantity of shares to be repurchased, reinforcing its dedication to leveraging its financial resources effectively.
Past Share Repurchase Activities
Under a previous normal course issuer bid, ThreeD successfully repurchased 2,500,500 common shares at an average price of approximately $0.47 per share. This buyback initiative expired on August 25, 2024, demonstrating ThreeD's ongoing commitment to increasing shareholder returns.
About ThreeD Capital Inc.
ThreeD Capital is established as a forward-thinking venture capital firm in Canada, with a focus on investing in promising opportunities within junior resources and disruptive technologies sectors. Their investment philosophy involves actively seeking out early-stage companies that merit investment and providing advisory services that bolster their growth and development.
The Vision Ahead
The company perceives significant potential in the current market landscape. By executing this issuer bid, ThreeD aims to not only bolster its reputation but also provide shareholders with confidence in its long-term strategy. The firm's proactive approach to managing its capital structure suggests a diligent effort to navigate market uncertainties while fostering sustainable growth.
Contact Information for Further Inquiries
For more information about the normal course issuer bid or other inquiries, interested parties can reach out to:
Matthew Davis, CPA
Chief Financial Officer
Email: davis@threedcap.com
Phone: 416?941?8900
Frequently Asked Questions
What is a normal course issuer bid?
A normal course issuer bid is a program that allows a company to repurchase its own shares in the open market, helping to improve shareholder value.
Why is ThreeD Capital executing a normal course issuer bid?
ThreeD Capital believes its shares are undervalued and views the repurchase of shares as a prudent use of its funds to enhance shareholder returns.
How many shares does ThreeD plan to buy back?
The company plans to repurchase up to 2,843,554 common shares during the bidding period.
Who is handling the share buyback for ThreeD Capital?
Ventum Financial Corp. has been retained by ThreeD Capital to facilitate the purchases.
What was the outcome of the previous issuer bid?
In its past issuer bid, ThreeD Capital repurchased 2,500,500 common shares at an average price of approximately $0.47 per share.
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