TORONTO, Feb. 10, 2023 (GLOBE NEWSWIRE) -- ThreeD Capital Inc. (“ThreeD” or the “Company”) (CSE:IDK) (OTCQX:IDKFF), a Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors, is pleased to announce that it has purchased an unsecured convertible debenture (the “Debenture”) for the principal amount of $280,000 (“Principal Amount”) from infinitii ai inc (“infinitii”). Infinitii is a publicly listed company on the Canadian Securities Exchange, under the symbol “iai”.
The Debenture matures twelve (12) months following the closing date and carries interest at a rate of 7% per annum, payable on the earlier of: (i) the maturity date, (ii) the conversion of the Debenture, or (iii) the prepayment of the Debenture by infinitii. The Principal Amount and any accrued and unpaid interest may be convertible into units (each a “Unit”) at the option of the holder any time until the earlier of: (a) the maturity date, and (b) the date infinitii delivers a prepayment notice. Each Unit at a conversion price of $0.07 per Unit, with each Unit being comprised of one common share of infinitii and one warrant for the purchase of one common share at a price of $0.15 for 36 months from the issuance date.
About infinitii ai inc.
Trusted since 2014 to provide environmental monitoring to many of the largest water infrastructure utilities in the U.S and Canada, infinitii ai (formerly Carl Data Solutions Inc.) has evolved into a leader in AI-driven predictive analytics for industrial and Smart City infrastructure applications that rely on time-series data. The company’s customers include the smart cities and municipalities of Toronto, Seattle, Miami-Dade County, Boston, Dallas, Region of Peel, Vancouver and Los Angeles County, among others.
infinitii ai services these customers via a trusted partner network that includes engineering and IT companies like AECOM, Core & Main Inc., Kerr Wood Leidal Associates Ltd., K2 Geospatial and SCG Flowmetrix Technical Services Inc.
infinitii ai software performs real-time analysis, checks flow monitoring status, sets alarms through a single interface, accepts all types of data from any source and offers predictive (what will happen) and prescriptive (what should happen) analytics. Whether it’s real-time, historic, wireless, satellite, SCADA, public data sets including USGS, NOAA and weather forecasts – it doesn’t matter where the data originates, infinitii ai transforms raw data into actionable information. Visit www.infinitii.ai to learn more.
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:
Jakson Inwentash
Vice President Investments
jinwentash@threedcap.com
Phone: 416-941-8900 ext 107
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.
Forward-Looking Statements
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as “forward-looking statements”) within the meaning of Canadian securities laws including, without limitation, statements with respect to the future investments by the Company. All statements other than statements of historical fact are forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur. Although the Company believes that the expectations reflected in the forward-looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause the Company’s actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
