ThreeD Capital Inc. Initiates Normal Course Issuer Bid
ThreeD Capital Inc. (CSE:IDK / OTCQX:IDKFF), a well-known Canadian venture capital firm, has announced its intention to launch a normal course issuer bid. This move highlights the company's dedication to boosting shareholder value by potentially buying back its own shares on the Canadian Securities Exchange.
Normal Course Issuer Bid Details
The issuer bid will kick off on September 23, 2024, and will run until September 23, 2025. During this timeframe, ThreeD Capital plans to buy up to 2,843,554 common shares, which represents around 5% of its total issued and outstanding shares. These repurchases will be made at current market prices, as ThreeD feels that its shares are undervalued.
Share Buyback Implementation
To assist with these share purchases, ThreeD Capital has enlisted the help of Ventum Financial Corp. The company is focused on making informed choices about when and how many shares to buy back, signaling its commitment to effectively managing its financial resources.
Previous Share Repurchase Efforts
In a past normal course issuer bid, ThreeD successfully repurchased 2,500,500 common shares at an average price of around $0.47 per share. This initiative concluded on August 25, 2024, further reflecting ThreeD's ongoing focus on enhancing shareholder returns.
About ThreeD Capital Inc.
ThreeD Capital positions itself as an innovative venture capital firm in Canada, concentrating on strategic investments in the junior resources and disruptive technologies sectors. Their investment strategy emphasizes identifying promising early-stage companies and providing advisory services that can help them grow and succeed.
Looking Forward
The company sees considerable opportunity in the current market environment. By moving forward with this issuer bid, ThreeD aims to improve its standing while instilling confidence in shareholders regarding its long-term plans. The firm's proactive strategy in managing its capital illustrates a thoughtful approach to addressing market challenges, all while pursuing sustainable growth.
Contact Information for More Details
If you have questions about the normal course issuer bid or other inquiries, you can contact:
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 allows a company to buy back its own shares in the open market, ultimately improving shareholder value.
Why is ThreeD Capital pursuing a normal course issuer bid?
ThreeD Capital believes its shares are undervalued, and repurchasing shares is seen as a smart way to enhance shareholder returns.
How many shares does ThreeD plan to repurchase?
The company intends to buy back up to 2,843,554 common shares during the duration of the bid.
Who is overseeing the share buyback for ThreeD Capital?
ThreeD Capital has engaged Ventum Financial Corp. to manage the share purchases.
What was the result of the last issuer bid?
In its prior issuer bid, ThreeD Capital bought back 2,500,500 common shares at an average price of about $0.47 per share.
