TORONTO, ONTARIO -- (Marketwired) -- 05/19/17 -- ThreeD Capital Inc. (the "Company") (CSE: IDK) is pleased to announce that it has completed a non-brokered private placement (the "Offering") pursuant to which it has issued 3,800,000 units ("Units) at a price of $0.10 per Unit to raise aggregate gross proceeds of $380,000. Each Unit consists of one common share of the Company and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to acquire one additional common share of the Company at an exercise price of $0.15 until May 19, 2020.
All securities issued and issuable in connection with the second tranche of the Offering are subject to a statutory hold period expiring on September 20, 2017.
Insiders of the Company subscribed for an aggregate of 100,000 Units pursuant to the Offering. Proceeds of the Offering will be used for general and administrative expenses and the purchase of investments.
ThreeD Capital Inc. is a publicly- traded Canadian-based venture capital firm focused on opportunistic investments in companies in the resource, technology and biotechnology markets.
ThreeD Capital Inc.
Gerry Feldman, CPA, CA
Chief Financial Officer and Corporate Secretary