IDKFF - ThreeD Capital Inc. Issues Early Warning Report in Connection with the Acquisition of Securities of AI/ML Innovations Inc. | Benzinga
TORONTO, July 11, 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 private placement (the "Acquisition"), ThreeD acquired ownership and control of an aggregate of 3,000,000 common shares (the "Subject Shares") and 3,000,000 common share purchase warrants (the "Subject Warrants" and together with the Subject Shares, the "Subject Units") of AI/ML Innovations Inc. (the "Company" or "AIML"). The Subject Shares represented approximately 3.3% of all issued and outstanding common shares of AIML at the time of the Acquisition. As a result of the Acquisition, the percentage ownership held by ThreeD and Sheldon Inwentash (the "Joint Actor") increased above 10% on a partially diluted basis.
Immediately prior to the Acquisition, ThreeD and the Joint Actor owned and controlled an aggregate of 339,000 common shares, 5,500,000 common share purchase warrants, and 500,000 stock options of the Company, representing approximately 0.4% of all issued and outstanding common shares of AIML (or approximately 7.2% on a partially diluted basis, assuming exercise of the warrants and options held). Of this total, ThreeD held an aggregate of 339,000 ...