TORONTO, June 27, 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 and securities purchased through the facilities of the Canadian Securities Exchange (the “Acquisitions”), ThreeD and Sheldon Inwentash (the “Joint Actor”) acquired ownership and control of an aggregate of 1,500,000 common shares (the “Subject Shares”) of Quebec Innovative Materials Corp (the “Company” or “QIMC”) and 1,000,000 common share purchase warrants (the “Subject Warrants” and together with the Subject Shares, the “Subject Securities”). As a result of the Acquisitions, the percentage ownership held by ThreeD and the Joint Actor increased above 10% on a partially diluted basis.

Immediately prior to the Acquisitions, ThreeD and the Joint Actor owned and controlled an aggregate of 5,300,000 common shares and 4,000,000 common share purchase warrants of the Company, representing approximately 5.7% of all issued and outstanding common shares of QIMC (or approximately 9.5% on a partially diluted basis, assuming exercise of the warrants held). Of this total, ThreeD held an aggregate of 5,300,000 common shares and 4,000,000 common share purchase warrants, representing approximately 5.7% of the issued and outstanding common shares of QIMC (or approximately 9.5% on a partially diluted basis, assuming exercise of the warrants held). The Joint Actor did not hold any securities of the Company, representing 0.0% of the issued and outstanding common shares on a non-diluted and partially diluted basis.

Immediately following the Acquisitions, ThreeD and the Joint Actor own and control an aggregate of 6,800,000 common shares and 5,000,000 common share purchase warrants of the Company, representing approximately 7.3% of all issued and outstanding common shares of QIMC (or approximately 12.0% on a partially diluted basis, assuming exercise of the warrants held). Of this total, ThreeD held an aggregate of 5,800,000 common shares and 4,000,000 common share purchase warrants, representing approximately 6.2% of the issued and outstanding common shares of QIMC (or approximately 10.0% on a partially diluted basis assuming the exercise of the warrants held). The Joint Actor held 1,000,000 common shares and 1,000,000 common share purchase warrants, representing 1.1% of the issued and outstanding common shares of QIMC (or approximately 2.1% on a partially diluted basis, assuming exercise of the warrants held).

The 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 Securities were acquired for total consideration of $45,000, or $0.03 per Subject Security.

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.

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.