TORONTO, Nov. 16, 2017 (GLOBE NEWSWIRE) -- ThreeD Capital Inc. ( “ThreeD”) (CSE:IDK) is pleased to announce that
it has acquired ownership and control of an aggregate of 2,000,000 common shares (the “Subject Shares”) and 2,000,000 common share
purchase warrants (the “Subject Warrants” and together with the Subject Shares, the “Subject Units”) of Global Cannabis
Applications Corp. (“Global Cannabis”) on November 15, 2017. The Subject Units represented approximately 3.7% of all issued
and outstanding common shares of Global Cannabis as of November 15, 2017 immediately following the transaction described above (or
approximately 7.2% on a partially diluted basis, assuming exercise of the Subject Warrants only), resulting in a corresponding
increase in the percentage of shares held by ThreeD and its Joint Actor as a result of the transaction.
Immediately before the transaction described above, ThreeD and the Joint Actor held an aggregate of 2,850,000
common shares of the Company (the “Pre-Closing Shares”), representing approximately 5.5% of the issued and outstanding common
shares of the Company. Of this total, ThreeD held an aggregate of 1,000,000 of the Pre-Closing Shares (representing
approximately 1.9% of the issued and outstanding common shares of the Company), and the Joint Actor held an aggregate of 1,850,000
of the Pre-Closing Shares (representing approximately 3.6% of the issued and outstanding common shares of the Company).
Immediately following the transaction described above, ThreeD and the Joint Actor held an aggregate of 4,850,000
common shares (the “Post-Closing Shares”) and convertible securities entitling ThreeD and the Joint Actor to acquire an additional
2,000,000 common shares of the Company (the “Post-Closing Convertible Securities”), representing approximately 9.0% of the issued
and outstanding common shares of the Company (or approximately 12.3% assuming exercise of such Post-Closing Convertible Securities
only). Of this total, ThreeD held an aggregate of 3,000,000 of the Post-Closing Shares and 2,000,000 of the Post-Closing
Convertible Securities (representing approximately 5.6% of the issued and outstanding common shares of the Company, or
approximately 9.0% assuming exercise of such Post-Closing Convertible Securities only), and the Joint Actor held an aggregate of
1,850,000 of the Post-Closing Shares and nil of the Post-Closing Convertible Securities (representing approximately 3.4% of the
issued and outstanding common shares of the Company).
The Subject Units were acquired in a private placement and not through the facilities of any stock
exchange. The holdings of securities of Global Cannabis by ThreeD and the Joint Actor are managed for investment purposes,
and ThreeD and the Joint Actor could increase or decrease their investments in Global Cannabis at any time, or continue to maintain
their current investment position, depending on market conditions or any other relevant factor. The aggregate consideration payable
for the Subject Units was $200,000, or $0.10 per Subject Unit.
The trade was effected in reliance upon the exemption contained in Section 2.3 of National Instrument 45-106 on
the basis that each of ThreeD and the Joint Actor is an “accredited investor” as defined herein.
About ThreeD Capital Inc.
ThreeD Capital Inc. is a publicly-traded Canadian-based venture capital firm focused on opportunistic
investments in companies in the junior resources, Artificial Intelligence and Blockchain sectors.
ThreeD seeks to invest in early stage, promising companies where it may be the lead investor and can
additionally provide investees with advisory services, mentoring and access to the Company’s network in order to earn increases to
the Company’s equity stake.
For further information:
Gerry Feldman, CPA, CA
Chief Financial Officer and Corporate Secretary
Feldman@threedcap.com
Phone: 416-606-7655
