ThreeD Capital Inc. Issues Early Warning Report in Connection With the Acquisition of Securities of infinitii ai inc.

/EIN News/ -- TORONTO, July 24, 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 the completion of a convertible debenture offering (the “Acquisition”), ThreeD and Sheldon Inwentash (the “Joint Actor”) acquired ownership and control of unsecured convertible debentures (the “Subject Debentures”) of infinitii ai inc. (the “Company” or “infinitii”), convertible into 12,665,400 units of the Company (the “Subject Debenture Units”). Each Subject Debenture Unit consists of one common share (each, a “Subject Convertible Share”) and one warrant for the purchase of one common share (each, a “Subject Convertible Warrant”). As a result of the Acquisition, the percentage ownership held by ThreeD and the Joint Actor increased by greater than 2% from the last early warning report filed in connection with the disposition of infinitii securities, from which ThreeD, along with the Joint Actor, reported a 13.4% ownership on a partially diluted basis, assuming the exercise of warrants, stock options, and convertible debentures held.

Immediately prior to the Acquisition, ThreeD and the Joint Actor owned and controlled an aggregate of 1,000,000 common share purchase warrants, 1,000,000 stock options, and convertible debentures entitling ThreeD to acquire 4,000,000 common shares and 4,000,000 common share purchase warrants of the Company, representing 0.0% of all issued and outstanding common shares of infinitii (or approximately 7.2% on a partially diluted basis, assuming exercise of the warrants, stock options, and convertible debentures held). Of this total, ThreeD held convertible debentures entitling ThreeD to acquire 4,000,000 common shares and 4,000,000 common share purchase warrants, representing 0.0% of the issued and outstanding common shares of infinitii (or approximately 5.8% on a partially diluted basis, assuming exercise of the convertible debentures held). The Joint Actor held an aggregate of 1,000,000 common share purchase warrants and 1,000,000 stock options, representing 0.0% of the issued and outstanding common shares of infinitii (or approximately 1.5% on a partially diluted basis, assuming exercise of the warrants and stock options held).

Immediately following the Acquisition, ThreeD and the Joint Actor own and control an aggregate of 1,000,000 common share purchase warrants, 1,000,000 stock options, and convertible debentures entitling ThreeD and the Joint Actor to acquire 16,665,400 common shares and 16,665,400 common share purchase warrants of the Company, representing 0.0% of all issued and outstanding common shares of infinitii (or approximately 21.4% on a partially diluted basis, assuming exercise of the warrants, stock options, and convertible debentures held). Of this total, ThreeD held convertible debentures entitling ThreeD to acquire 15,133,400 common shares and 15,133,400 common share purchase warrants, representing 0.0% of the issued and outstanding common shares of infinitii (or approximately 18.9% on a partially diluted basis assuming the exercise of the convertible debentures held). The Joint Actor held an aggregate of 1,000,000 common share purchase warrants, 1,000,000 stock options and convertible debentures entitling the Joint Actor to acquire 1,532,000 common shares and 1,532,000 common share purchase warrants, representing 0.0% of the issued and outstanding common shares of infinitii (or approximately 3.8% on a partially diluted basis, assuming exercise of the warrants, stock options, and convertible debentures held).

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 Debentures were acquired for total consideration of $633,270.

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: 403-809-1140

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.