ThreeD Capital Inc. Provides Corporate Developments

TORONTO, Sept. 01, 2020 (GLOBE NEWSWIRE) -- 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.