TORONTO, March 14, 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 March 11, 2024 (the “Acquisition”), ThreeD acquired ownership and control of an aggregate of 750,000 common shares (the “Subject Shares”) of Birchtree Investments Ltd. (the “Company” or “Birchtree”). The Subject Shares represented approximately 1.0% of all issued and outstanding common shares of the Company at the time of the Acquisition. As a result of the Acquisition, the percentage ownership held by ThreeD increased by 2.8% from the last early warning report filed in which ThreeD reported a 12.9% ownership of all issued and outstanding common shares of Birchtree.
Immediately prior to the Acquisition, ThreeD owned and controlled an aggregate of 11,550,000 common shares of Birchtree, representing approximately 14.7% of all issued and outstanding common shares of the Company on a non-dilutive and partially dilutive basis.
Immediately following the Acquisition, ThreeD owned and controlled an aggregate of 12,300,000 common shares of Birchtree, representing approximately 15.7% of all issued and outstanding common shares of the Company on a non-dilutive and partially dilutive basis.
The Subject Shares were acquired 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 acquired for proceeds of an average price of approximately $0.114 per Subject Share, or total aggregate proceeds of $85,720.
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:
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Matthew Davis, CPA
Chief Financial Officer and Corporate Secretary
davis@threedcap.com
Phone: 416-941-8900
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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.
