ThreeD Capital Inc. Provides Corporate Developments
September 01 2020 - 7:30AM
ThreeD Capital Inc. (“ThreeD” or the “Company”) (CSE:IDK /
OTCQB:IDKFF) a Canadian based venture capital firm that invests in
disruptive companies and promising junior resources companies, is
pleased to provide a general corporate update to shareholders.
ThreeD is actively investing in the junior
resource sector and has significantly grown its number of junior
resource investments for the last 3 consecutive months.
The Company is pleased to announce it is now
disclosing the number of junior resource and technology investments
on its newly designed website and will update these figures at the
commencement of each month. In the last month, ThreeD increased the
number of junior resource investments from 12 to 15, representing a
25% increase month over month. The Company plans to continue to
grow its junior resource portfolio for the foreseeable future.
ThreeD previously reported in its continuous
disclosure documents that it had sold pursuant to a share purchase
agreement dated November 15, 2019, an aggregate of 13,500,000
common shares of New Found Gold Corp. to a third party purchaser at
a price of $0.08 per share for aggregate proceeds of $1,080,000.
The Company has since commenced a legal action claiming rescission
of the transaction or, in the alternative, damages in the
approximate amount of $16,000,000 or the present value of the
common shares. The Company is currently arranging with the third
party dates and times for discoveries in this action. The
Company believes that the purchaser was in possession of
information material to the transaction that was not disclosed at
the time. It is not determinable if the Company will be successful
in its claim or, if successful, the amount of damages that may be
awarded, if any.
About ThreeD Capital Inc.
ThreeD is a publicly-traded Canadian-based
venture capital firm focused on opportunistic investments in
companies in the Junior Resources, Artificial Intelligence,
Blockchain, Esports, Renweable Technology, Internet of Things,
& Nanotechnology sectors. ThreeD seeks to invest in early
stage, promising companies where it may be the lead investor and is
actively involved with investees by advising and leveraging
ThreeD’s powerful network.
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 legal action concerning
the common shares of New Found Gold Corp. (the “Litigation”). All
statements other than statements of historical fact are
forward-looking statements. 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 including, without limitation, risks relating to the
timing, costs and potential outcome of the Litigation. 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.
For further information: |
Gerry Feldman, CPA, CA |
Chief Financial Officer and Corporate
SecretaryFeldman@threedcap.com |
Phone: 416-941-8900 ext 106 |
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