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TORONTO, March 21, 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 in recent weeks (the “Acquisitions”), ThreeD acquired ownership and control of an aggregate of 106,000 common shares (the “Subject Shares”) of Avicanna Inc. (the “Company” or “AVCN”). The Subject Shares represented approximately 0.1% of all issued and outstanding common shares of the Company. As a result of the Acquisitions, the percentage ownership held by ThreeD and Sheldon Inwentash (the “Joint Actor”) increased above 2%, on a partially diluted basis, from the last early warning report filed.
Immediately prior to the Acquisitions, ThreeD and the Joint Actor owned and controlled an aggregate of 19,056,757 common shares, 2,266,250 common share purchase warrants of the Company, and 50,000 stock options, representing approximately 17.3% of all issued and outstanding common shares of AVCN (or approximately 18.9% on a partially diluted basis, assuming exercise of the warrants and options held). Of this total, ThreeD held an aggregate of 12,987,800 common shares and 1,698,750 common share purchase warrants of the Company, representing approximately 11.8% of the issued and outstanding common shares of AVCN (or approximately 13.1% on a partially diluted basis, assuming exercise of the warrants held). The Joint Actor held an aggregate of 6,068,957 common shares, 567,500 common share purchase warrants, and 50,000 stock options of the Company, representing approximately 5.5% of the issued and outstanding shares of AVCN (or approximately 6.0% on a partially diluted basis, assuming exercise of the warrants and options held).
Immediately following the Acquisitions, ThreeD and the Joint Actor own and control an aggregate of 19,162,757 common shares, 2,266,250 common share purchase warrants, and 50,000 stock options of the Company, representing approximately 17.4% of all issued and outstanding common shares of AVCN (or approximately 19.1% on a partially diluted basis, assuming exercise of the warrants and options held). Of this total, ThreeD held an aggregate of 13,093,800 common shares and 1,698,750 common share purchase warrants of the Company, representing approximately 11.9% of the issued and outstanding common shares of AVCN (or approximately 13.2% on a partially diluted basis assuming the exercise of the warrants held). The Joint Actor held an aggregate of 6,068,957 common shares, 567,500 common share purchase warrants, and 50,000 stock options of the Company, representing 5.5% of the issued and outstanding common shares of AVCN (or approximately 6.0% on a partially diluted basis, assuming exercise of the warrants and options held).