ThreeD Capital Inc. Secures Financing Through Private Placement
ThreeD Capital Inc. is thrilled to share the successful completion of its recent private placement financing. The Toronto-based venture capital firm focuses on making strategic investments in the junior resources and disruptive technologies sectors. In this latest initiative, ThreeD has raised a total of $700,000 by issuing 7,000,000 units at $0.10 each.
Details of the Private Placement Financing
Each unit consists of one common share paired with a common share purchase warrant, referred to as a "Warrant." This warrants the holder to buy one share of the company at an exercise price of $0.20, retained for 60 months. Importantly, no commissions or finder fees were involved in this financing round.
Uses of Raised Funds
The funds obtained from this private placement are earmarked for general working capital and future investments. This demonstrates ThreeD's commitment to expanding its portfolio and providing potential backing to promising enterprises.
Insider Participation and Related Transactions
A noteworthy aspect of this transaction includes participation from the company’s directors, referred to as "Insiders," who plan to buy 2,000,000 units. This insider involvement is categorized as a "related party transaction" under Multilateral Instrument 61-101, aimed at protecting minority shareholders. Fortunately, the company qualifies for an exemption regarding valuation and shareholder approval since the insiders' investment does not surpass 25% of ThreeD’s market capitalization.
About ThreeD Capital Inc.
ThreeD Capital Inc. operates as a publicly-traded venture capital company in Canada, highlighting its dedication to fostering and investing in innovative businesses in junior resources and other cutting-edge technologies. The firm's strategy includes investing in both private and public companies across several sectors globally, primarily focusing on early-stage opportunities where it can take a leading investment role while offering advisory services.
Contact ThreeD Capital Inc.
For further details about ThreeD Capital Inc. and its operations, feel free to contact:
Matthew Davis, CPA
Chief Financial Officer and Corporate Secretary
Email: davis@threedcap.com
Phone: 416-941-8900
Frequently Asked Questions
What was the total amount raised in the private placement?
The total amount raised during the private placement was $700,000.
What is included in each unit of the private placement?
Each unit consists of one common share and one common share purchase warrant.
How long can the Warrants be exercised?
The Warrants can be exercised for 60 months from the date of issuance.
Who are the insiders participating in the placement?
The directors of the company are participating in the placement by purchasing a total of 2,000,000 units.
What is the purpose of the funds raised?
The funds raised will be used for general working capital and to pursue investments in promising ventures.
