TORONTO, Feb. 28, 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 series of transactions (“Dispositions”), ThreeD and Sheldon Inwentash (the “Joint Actor”) disposed of ownership and control of an aggregate of 8,445,000 common shares (the “Subject Shares”) of Bluesky Digital Assets Corp. (the “Company” or “Bluesky”). The Subject Shares represented approximately 14.3% of all issued and outstanding common shares of the Company. As a result of the Dispositions, the percentage ownership held by ThreeD and the Joint Actor decreased by 14.3% from its last early warning report filed in connection with the acquisition of Bluesky shares, from which ThreeD, with the Joint Actor, reported a 29.5% ownership on a partially diluted basis, assuming the exercise of outstanding warrants and options held.
Immediately prior to the Dispositions, ThreeD and the Joint Actor owned and controlled an aggregate of 10,957,000 common shares, 7,150,000 warrants, and 500,000 options of Bluesky, representing approximately 20.2% of all issued and outstanding common shares of the Company (or approximately 30.1% on a partially diluted basis assuming exercise of the warrants and options). Of this total, ThreeD held an aggregate of 7,068,500 common shares and 3,950,000 warrants of the Company, representing approximately 13.0% of the issued and outstanding common shares of the Company (or approximately 19.0% on a partially diluted basis assuming exercise of the warrants held). The Joint actor held an aggregate 3,888,500 common shares, 3,200,000 warrants, 500,000 options of the Company, representing approximately 7.2% of the issued and outstanding common share of the Company (or approximately 13.1% on a partially diluted basis, assuming exercise of the warrants and options held).
Immediately following the Dispositions, ThreeD and the Joint Actor owned and controlled an aggregate of 2,512,000 common shares, 7,150,000 warrants, and 500,000 options of Bluesky, representing approximately 4.2% of all issued and outstanding common shares of the Company (or approximately 15.2% on a partially diluted basis assuming exercise of the warrants and options). Of this total, ThreeD held an aggregate of 1,662,000 common shares and 3,950,000 warrants of the Company representing approximately 2.8% of the issued and outstanding common shares of the Company (or approximately 8.9% on a partially diluted basis assuming exercise of the warrants). The Joint Actor held an aggregate of 850,000 common shares, 3,200,000 warrants, and 500,000 options of the Company representing approximately 1.4% of the issued and outstanding common shares of the Company (or approximately 7.2% on a partially diluted basis, assuming exercise of the warrants and options held).
The Dispositions were conducted through the facilities of the Canadian Securities Exchange. The holdings of securities of the Company by ThreeD and the Joint Actor are managed for investment purposes, and ThreeD or the Joint Actor could increase or decrease its investments in the Company at any time, or continue to maintain its current position, depending on market conditions or any other relevant factor.
The aggregate consideration received for the disposition of the Subject Shares was $1,841,891, or $0.22 per Subject Share.
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.
