Friday, November 09, 2018 7:25:30 PM
ThreeD Capital Inc. acquired ownership and control of an aggregate of 4.75 million common shares and 4.75 million common share purchase warrants of Imagination Park Entertainment Inc. on Nov. 9, 2018. The Subject Units represented approximately 4.7% of all issued and outstanding common shares of the Company as of November 9, 2018 immediately following the transaction described above (or approximately 8.9% on a partially diluted basis, assuming exercise of the Subject Warrants only), resulting in a corresponding increase in the percentage of shares held by the Joint Actors as a result of the transaction.
Immediately before the transaction described above, the Acquirer held an aggregate of 900,000 common shares of the Company (the "Pre-Shares"), and convertible securities entitling the Acquirer to acquire an additional 2,400,000 common shares of the Company (the "Pre-Convertible Securities") representing approximately 1.2% of the issued and outstanding common shares of the Company (or approximately 4.2% on a partially diluted basis, assuming exercise of the Pre-Convertible Securities only).
Immediately following the transaction described above, the Acquirer held an aggregate of 5,650,000 common shares (the "Post-Shares") and convertible securities entitling the Acquirer to acquire an additional 7,150,000 common shares of the Company (the "Post-Convertible Securities"), representing approximately 5.6% of the issued and outstanding common shares of the Company (or approximately 11.8% assuming exercise of such Post-Convertible Securities only).
The Subject Units were acquired in a private placement and not through the facilities of any stock exchange. The holdings of securities of the Company by Inwentash and the Joint Actors are managed for investment purposes, and Inwentash and the Joint Actors could increase or decrease their investments in the Company at any time, or continue to maintain their current investment position, depending on market conditions or any other relevant factor. The aggregate consideration payable for the Subject Units was $570,000, or $0.12 per Subject Unit.
The trade was effected in reliance upon the exemption contained in Section 2.3 of National Instrument 45-106 on the basis that ThreeD is an "accredited investor" as defined herein.
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 and Blockchain sectors. ThreeD seeks to invest in early stage, promising companies and ICOs where it may be the lead investor and can additionally provide investees with advisory services, mentoring and access to the Company's ecosystem.
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