TORONTO, Jan. 07, 2025 (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 a series of transactions ending in recent weeks (the "Dispositions"), ThreeD disposed of ownership and control of an aggregate of 1,850,000 common shares (the "Subject Shares") of Quebec Innovative Materials Corp. (the "Company" or "QIMC"). The Subject Shares represented approximately 1.6% of all issued and outstanding common shares of the Company. As a result of the Dispositions, the percentage ownership held by ThreeD and the Joint Actor decreased by greater than 2%, on a partially diluted basis, from the last early warning report filed.

Immediately prior to the Dispositions, ThreeD and the Joint Actor owned and controlled an aggregate of 11,500,000 common shares, 5,000,000 common share purchase warrants, and 1,750,000 stock options of the Company, representing approximately 10.0% of all issued and outstanding common shares of QIMC (or approximately 15.1% on a partially diluted basis, assuming exercise of the warrants and stock options held). Of this total, ThreeD held an aggregate of 9,197,000 common shares and 4,000,000 common share purchase warrants of the Company, representing approximately 8.0% of the issued and outstanding common shares of QIMC (or approximately 11.1% on a partially diluted basis, assuming exercise of the warrants held). The Joint Actor held an aggregate of 2,303,000 common shares, 1,000,000 common share purchase warrants, and 1,750,000 stock options of the Company, representing approximately 2.0% of the issued and outstanding shares of QIMC (or approximately 4.3% on a partially diluted basis, assuming exercise of the warrants and stock options held).

Immediately following the Dispositions, ThreeD and the Joint Actor owned and controlled an aggregate of 9,650,000 common shares, 5,000,000 common share purchase warrants, and 1,750,000 stock options of the Company, representing approximately 8.4% of all issued and outstanding common shares of QIMC (or approximately 13.5% on a partially diluted basis, assuming exercise of the warrants and options held). Of this total, ThreeD held an aggregate of 7,347,000 common shares and 4,000,000 common share purchase warrants of the Company, representing approximately 6.4% of the issued and outstanding common shares of QIMC (or approximately 9.6% on a partially diluted basis assuming the exercise of the warrants held). The Joint Actor held an aggregate of 2,303,000 common shares, 1,000,000 common share purchase warrants, and 1,750,000 stock options of the Company, representing approximately 2.0% of the issued and outstanding common shares of QIMC (or approximately 4.3% on a partially diluted basis, assuming exercise of the warrants and stock options 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 Shares were disposed of through the facilities of the Canadian Securities Exchange for total consideration of $150,453, or approximately $0.081 per Subject Share.

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.

For further information:

Matthew Davis, CPA
Chief Financial Officer and Corporate Secretary
davis@threedcap.com
Phone: 416-941-8900

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.