TORONTO, May 19, 2021 (GLOBE NEWSWIRE) -- ThreeD Capital Inc. (“ThreeD”) (CSE:IDK / OTCQB:IDKFF) a Canadian based venture capital firm that invests in disruptive companies and promising junior resources companies, announces that it has disposed of ownership and control of an aggregate of 489,500 common shares (the “Subject Shares”) of Windfall Geotek Inc. (the “Company” or “Windfall”) on May 13, 2021 (the “Disposition”). The Subject Shares represented approximately 0.40% of all issued and outstanding common shares of the Company as of May 13, 2021, resulting in a corresponding change to the percentage ownership by ThreeD from its last early warning report filed in connection with the acquisition of Windfall Subject Shares, from which ThreeD reported an 11.0% ownership on a partially diluted basis.
Immediately prior to the Disposition, ThreeD owned and controlled an aggregate of 10,000,000 common shares and 2,000,000 warrants of Windfall, representing approximately 8.19% of all issued and outstanding common shares of the Company (or approximately 9.82% assuming exercise of the warrants). Immediately following the Disposition, ThreeD owns and controls an aggregate of 9,510,500 common shares and 2,000,000 warrants of Windfall, representing approximately 7.79% of all issued and outstanding common shares of the Company (or approximately 9.27% assuming exercise of the warrants). ThreeD does not own any other securities of the Company.
The Subject Shares were sold through the facilities of the TSX Venture Exchange. The holdings of securities of the Company by ThreeD are managed for investment purposes, and ThreeD 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 trade was effected in reliance upon the exemption contained in Section 2.3 of National Instrument 45-106 on the basis that ThreeD is an “accredited investor” as defined herein.
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|
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.