TORONTO, April 02, 2024 (GLOBE NEWSWIRE) -- ThreeD Capital Inc. ("ThreeD" or the "Company") (CSE:IDK) (OTCQX:IDKFF), a Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors, is pleased to announce that it has acquired a US$50,000 SAFE (Simple Agreement for Future Equity) investment in TODAQ Micro Inc.
With this recent investment, the Company now holds a total of US$100,000 SAFE investments in TODAQ Micro Inc. Additionally, ThreeD also holds 100,000 TODA Note Royalties ("TDN Royalties") from TODAQ Micro Inc. Each TDN Royalty entitles the holder thereof to receive royalty payments to the holder's micropayment node, subject to certain terms and conditions.
TODAQ Micro Inc. is a privately held corporation that provides a new option for the unserved market to allow businesses customers to complete micropayments in cost efficient manner without having to subscribe for a microservice platform. TODAQ Micro Inc. is subsidiary of TODAQ Holdings Inc., another privately held corporation, of which ThreeD holds 478,739 preferred shares and 279,413,283 TDN Royalties.
"ThreeD Capital had the foresight years ago to see the potential when few could and the patience and long-term approach to support this mission from research & development to commercialization. We're extremely pleased to have their investment at this moment when TAPP micropayment enabled AIs will support healthcare, education, sports, media, and entertainment customers." Said Hassan Khan, CEO of TODAQ Micro Inc.
Sheldon Inwentash, Chairman and Chief Executive Officer of ThreeD commented, "We are very excited about the prospects of TODAQ Micro Inc. and its approach to solving real problems. The cost to do a transaction often exceeds the value of the payment itself. We believe TODAQ Micro has cracked the micropayments problem, allowing for scalable and low cost transfer of value, enabling quick and small transactions at pennies or even fractions of a penny without the high costs usually associated with these payments. We believe this technology is revolutionary and has the potential to transform and streamline business interactions."
More information about TODAQ Micro Inc. can be found through the ThreeD YouTube channel where Hassan Khan, CEO of TODAQ Micro Inc., is interviewed.
TODAQ Micro Inc. has just launched its micropayments and AI conversational checkout. Please read their press release in the link below to find out more.
https://www.globenewswire.com/news-release/2024/04/02/2856013/0/en/TODAQ-Micro-Launches-Micropayments-and-AI-Conversational-Checkout.html
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:
Jakson Inwentash
Vice President Investments
jinwentash@threedcap.com
Phone: 416-941-8900 ext 107
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.
Forward-Looking Statements
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of Canadian securities laws including, without limitation, statements with respect to the future investments by the Company. All statements other than statements of historical fact are forward-looking statements. Often, but not always, these forward looking statements can be identified by the use of words such as "believe", "believes", "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.
Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur. Although the Company believes that the expectations reflected in the forward-looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause the Company's actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
