ThreeD Capital upsizes private placement to $696,000

ThreeD Capital Inc. (CSE: IDK / OTCQX: IDKFF) announced it has increased the size of its previously disclosed non-brokered private placement financing.

The Canadian venture capital firm now plans to issue up to 11.6 million units at $0.06 per unit, raising gross proceeds of up to $696,000. Each unit consists of one common share and one warrant that allows the holder to purchase an additional common share at $0.15 for 60 months.

The company stated it will not pay commissions or finder's fees for the private placement. All securities will be subject to a four-month and one-day hold period following issuance.

ThreeD Capital directors intend to purchase all 11.6 million units in the offering. The company classified this insider participation as a related party transaction under Multilateral Instrument 61-101 but said it qualifies for exemptions from valuation and minority shareholder approval requirements because the transaction value does not exceed 25% of the company's market capitalization.

The financing requires approval from the Canadian Securities Exchange before completion. ThreeD Capital plans to use proceeds for general working capital and investment purchases.

The company focuses on investments in junior resource and technology companies, seeking early-stage opportunities where it can serve as a lead investor and provide advisory services.

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