TORONTO, March 31, 2023 (GLOBE NEWSWIRE) -- ThreeD Capital Inc. ("ThreeD") (CSE:IDK / OTCQX:IDKFF) announces that in connection with the filing of a Non-Offering Prospectus (the "Prospectus") and listing of common shares (the "Listing") of Birchtree Investments Ltd. (the "Company" or "Birchtree") on the Canadian Securities Exchange. As a result of the completion of the Prospectus and Listing, ThreeD owns and has control and direction of an aggregate of 10,000,000 common shares of the Company (the "Subject Shares").
ThreeD originally acquired the Subject Shares prior to the completion of the Prospectus and Listing, through a private placement in which ThreeD issued 434,782 common shares of ThreeD in exchange for the Subject Shares valued at a deemed price of $0.05 per Subject Share.
Immediately prior to the Prospectus and Listing, ThreeD owned and controlled the Subject Shares representing approximately 12.9% of all issued and outstanding common shares of the Birchtree.
Immediately following the Prospectus and Listing, ThreeD continued to own and control the Subject Shares, representing approximately 12.9% of all issued and outstanding common shares of the Company .
The Subject Securities were acquired from the Company directly and not through the facilities of any stock exchange. The holdings of securities of the Company by ThreeD are managed for investment purposes, and ThreeD and/or its joint actors could increase or decrease their respective investments in the Company at any time, or continue to maintain their current investment position, depending on market conditions or any other relevant factor.
A copy of the applicable securities report filed in connection with the matters set forth above may be obtained by contacting Lynn Chapman using the contact detail provided below.
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.
