TORONTO, ONTARIO--(Marketwired - Aug. 19, 2016) - Sheldon Inwentash ("Inwentash") of 69 Yonge Street, Suite 1010, Toronto, ON, M5E 1K3, announces that on August 17, 2016, he acquired ownership of 1,800,000 common shares ("Common Shares") and 1,800,000 common share purchase warrants (each, a "Warrant") (each Warrant entitling the holder thereof to acquire one additional Common Share at a price per common share of $0.10 until August 17, 2019) of ThreeD Capital Inc. ("ThreeD") representing approximately 13.4% of the total issued and outstanding common shares of ThreeD as of August 17, 2016, calculated on a partially diluted basis assuming exercise of the Warrants only. As a result of this transaction, Inwentash and his joint actors collectively held, as at August 17, 2016, an aggregate of 3,222,517 common shares of ThreeD, including the Common Shares, and rights to acquire an additional 2,025,000 common shares of ThreeD upon exercise of certain convertible securities (the "Convertible Securities"), including the Warrants. Of these totals, Inwentash owns 2,244,677 common shares, including the Common Shares, and 2,025,000 of the Convertible Securities directly (the "Inwentash Convertible Securities"). In the event that the Convertible Securities are fully exercised, the holdings of Inwentash and his joint actors represents a total of 5,247,517 common shares of ThreeD, or approximately 19.4% of all issued and outstanding common shares as at August 17, 2016, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only. In the event that the Inwentash Convertible Securities are fully exercised, the direct holdings of Inwentash represents a total of 4,269,677 common shares of ThreeD, or approximately 15.8% of all issued and outstanding common shares as at August 17, 2016, calculated on a partially diluted basis assuming the exercise of the Inwentash Convertible Securities only.
These transactions were made for investment purposes and Inwentash or his joint actors could increase or decrease their investment in ThreeD depending on market conditions or any other relevant factor.
This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bids and Insider Reporting Issues in connection with the filing of an early warning report.
To obtain a copy of the Early Warning Report filed by Inwentash, refer to ThreeD's sedar profile at www.sedar.com.