ThreeD Capital Inc. Announces Private Placement Financing
ThreeD Capital Inc. (“ThreeD”) (CSE:IDK / OTCQX:IDKFF), a Canadian venture capital firm specializing in dynamic investments in junior resources and disruptive technologies, is excited to unveil details about its proposed private placement financing.
Details of the Private Placement
The planned private placement will involve the issuance of up to 7,000,000 units at a price of $0.10 per unit, expecting to generate total gross proceeds of $700,000. Each unit comprises one common share, along with one share purchase warrant, granting the holder the right to purchase one common share at an exercise price of $0.20 for up to five years. Notably, there are no commissions or finder’s fees anticipated for this financing round.
Use of Proceeds
Proceeds from the private placement are earmarked for general working capital purposes as well as the acquisition of investments. This initiative outlines ThreeD's commitment to strengthening its financial foundation while pursuing expansive growth opportunities.
Insider Participation and Related Transactions
Distinctly, certain directors within the company, referred to collectively as the “Insiders,” plan to purchase up to 2,000,000 units in this financing. This participation is categorized as a “related party transaction” as per Multilateral Instrument 61-101, reflecting a secure and disciplined approach in managing shareholder interests. The company will apply an exemption from the valuation and independent shareholder approval requirements since the Insiders' involvement is less than 25% of the company’s market capitalization.
Regulatory Aspects of the Financing
The completion of this private placement remains contingent on receiving the necessary approvals from the Canadian Securities Exchange. This step ensures that the company adheres to regulatory requirements, reinforcing its commitment to transparency and accountability in its operations.
About ThreeD Capital Inc.
ThreeD Capital Inc. operates as a publicly-listed venture capital entity committed to strategic investments in perturbed sectors. Its investment philosophy prioritizes early-stage investment opportunities that promise significant returns, thereby allowing the firm to facilitate support through advisory services and connectivity within its extensive ecosystem.
Contact Information
If you have any inquiries or need further information, please contact:
Matthew Davis, CPA
Chief Financial Officer and Corporate Secretary
Email: davis@threedcap.com
Phone: 416-941-8900
Frequently Asked Questions
What is the purpose of the private placement?
The proceeds from the private placement are intended for general working capital and to fund investment acquisitions, supporting ThreeD's growth strategy.
How many units will be sold in the private placement?
ThreeD Capital Inc. plans to sell up to 7,000,000 units as part of the private placement offering.
What is included in each unit?
Each unit consists of one common share and one share purchase warrant entitling the holder to purchase an additional common share at a predetermined price.
Who are the insiders participating in the placement?
The insiders are specific directors of the company who plan to invest in a total of 2,000,000 units under the private placement scheme.
What is the expected duration of the warrants?
The warrants included in the units are exercisable for a period of 60 months from the date of issuance, allowing flexibility for the holders.
