TORONTO, Oct. 18, 2024 (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 on October 11, 2024 (the Dispositions), ThreeD disposed of ownership and control of an aggregate 10,750,000 common shares (the Subject Shares) of Birchtree Investments Ltd. (the Company or Birchtree). The Subject Shares represented approximately 12.9% of all issued and outstanding common shares of the Company. As a result of the Dispositions, the percentage ownership held by ThreeD decreased below 10% from the last early warning report filed in which ThreeD reported a 15.7% ownership of all issued and outstanding common shares of Birchtree.
Immediately prior to the Dispositions, ThreeD owned and controlled an aggregate of 10,750,000 common shares of Birchtree, representing approximately 12.9% of all issued and outstanding common shares of the Company on a non-dilutive and partially dilutive basis.
Immediately following the Dispositions, ThreeD did not own or control any securities of Birchtree.
The Subject Shares were disposed of through the facilities of the Canadian Securities Exchange. The holdings of securities of the Company by ThreeD are managed for investment purposes. ThreeD 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 Subject Shares were disposed of for total consideration of $215,000 or approximately $0.02 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: |
| Matthew Davis, CPA |
| Chief Financial Officer and Corporate Secretary |
| davis@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.
Source: ThreeD Capital Inc