TORONTO, March 21, 2025 (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 in recent weeks (the "Acquisitions"), ThreeD acquired ownership and control of an aggregate of 106,000 common shares (the "Subject Shares") of Avicanna Inc. (the "Company" or "AVCN"). The Subject Shares represented approximately 0.1% of all issued and outstanding common shares of the Company. As a result of the Acquisitions, the percentage ownership held by ThreeD and Sheldon Inwentash (the "Joint Actor") increased above 2%, on a partially diluted basis, from the last early warning report filed.
Immediately prior to the Acquisitions, ThreeD and the Joint Actor owned and controlled an aggregate of 19,056,757 common shares, 2,266,250 common share purchase warrants of the Company, and 50,000 stock options, representing approximately 17.3% of all issued and outstanding common shares of AVCN (or approximately 18.9% on a partially diluted basis, assuming exercise of the warrants and options held). Of this total, ThreeD held an aggregate of 12,987,800 common shares and 1,698,750 common share purchase warrants of the Company, representing approximately 11.8% of the issued and outstanding common shares of AVCN (or approximately 13.1% on a partially diluted basis, assuming exercise of the warrants held). The Joint Actor held an aggregate of 6,068,957 common shares, 567,500 common share purchase warrants, and 50,000 stock options of the Company, representing approximately 5.5% of the issued and outstanding shares of AVCN (or approximately 6.0% on a partially diluted basis, assuming exercise of the warrants and options held).
Immediately following the Acquisitions, ThreeD and the Joint Actor own and control an aggregate of 19,162,757 common shares, 2,266,250 common share purchase warrants, and 50,000 stock options of the Company, representing approximately 17.4% of all issued and outstanding common shares of AVCN (or approximately 19.1% on a partially diluted basis, assuming exercise of the warrants and options held). Of this total, ThreeD held an aggregate of 13,093,800 common shares and 1,698,750 common share purchase warrants of the Company, representing approximately 11.9% of the issued and outstanding common shares of AVCN (or approximately 13.2% on a partially diluted basis assuming the exercise of the warrants held). The Joint Actor held an aggregate of 6,068,957 common shares, 567,500 common share purchase warrants, and 50,000 stock options of the Company, representing 5.5% of the issued and outstanding common shares of AVCN (or approximately 6.0% on a partially diluted basis, assuming exercise of the warrants and options held).
The holdings of securities of the Company by ThreeD and the Joint Actor are managed for investment purposes. ThreeD and the Joint Actor 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 through the facilities of the Toronto Stock Exchange for total consideration of $37,400, or approximately $0.353 per Subject Share.
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:
Matthew Davis, CPA Chief Financial Officer and Corporate Secretary
davis@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.
