TORONTO, Nov. 09, 2022 (GLOBE NEWSWIRE) -- ThreeD Capital Inc. (“ThreeD”) (CSE:IDK / OTCQX:IDKFF) a Canadian based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors, announces that through a recent acquisition (the “Acquisition”), ThreeD acquired ownership and control of an aggregate of 105,000 common shares (the “Subject Shares”) of Infinitii AI Inc. (the “Company” or “Infinitii”). The Subject Shares represented approximately 0.1% of all issued and outstanding common shares of the Company at the time. As a result of the Acquisition, the percentage ownership held by ThreeD increased by 2% from the last early warning report filed in connection with the acquisition of Infinitii shares, from which ThreeD reported a 10.1% ownership on a partially diluted basis, assuming the exercise of warrants held.
Immediately prior to the Acquisition, ThreeD owned and controlled an aggregate of 13,469,000 common shares and 2,000,000 warrants of Infinitii, representing approximately 10.7% of all issued and outstanding common shares of the Company (or approximately 12.0% on a partially diluted basis, assuming exercise of the outstanding warrants).
Immediately following the Acquisition, ThreeD owned and controlled an aggregate of 13,574,000 common shares and 2,000,000 warrants of Infinitii, representing approximately 10.7% of all issued and outstanding common shares of the Company (or approximately 12.1% on a partially diluted basis, assuming exercise of the outstanding warrants).
The Subject Shares were purchased through the facilities of the Canadian Securities Exchange. The holdings of securities of the Company by ThreeD are managed for investment purposes, and ThreeD could increase or decrease its investments in Infinitii at any time, or continue to maintain its current position, depending on market conditions or any other relevant factor.
The Subject Shares were acquired for proceeds of an average price of approximately $0.035 per Subject Share, or aggregate proceeds of $3,675.
About ThreeD Capital Inc.
ThreeD is a publicly-traded Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors. ThreeD’s investment strategy is to invest in multiple private and public companies across a variety of sectors globally. ThreeD seeks to invest in early stage, promising companies where it may be the lead investor and can additionally provide investees with advisory services and access to the Company’s ecosystem.
| For further information: |
| Lynn Chapman, CPA, CA |
| Chief Financial Officer and Corporate Secretary chapman@threedcap.com |
| Phone: 416-941-8900 |
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
