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TORONTO, Nov. 08, 2024 (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 the completion of a private placement (the “Acquisition”), ThreeD and Sheldon Inwentash (the “Joint Actor”) acquired ownership and control of an aggregate of 9,000,000 common shares (the “Subject Shares”) and 9,000,000 common share purchase warrants (the “Subject Warrants” and together with the Subject Shares, the “Subject Units”) of AI/ML Innovations Inc. (the “Company” or “AIML”). The Subject Shares represented approximately 6.5% of all issued and outstanding common shares of AIML at the time of the Acquisition. As a result of the Acquisition, the percentage ownership held by ThreeD and the Joint Actor increased by greater than 2% from the last early warning report filed.
Immediately prior to the Acquisition, ThreeD and the Joint Actor owned and controlled an aggregate of 9,514,200 common shares, 14,065,000 common share purchase warrants, and 500,000 stock options of the Company, representing approximately 8.0% of all issued and outstanding common shares of AIML (or approximately 18.1% on a partially diluted basis, assuming exercise of the warrants and options held). Of this total, ThreeD held an aggregate of 8,949,200 common shares and 12,500,000 common share purchase warrants, representing approximately 7.6% of the issued and outstanding common shares of AIML (or approximately 16.4% on a partially diluted basis, assuming exercise of the warrants held). The Joint Actor held an aggregate of 565,000 common shares, 1,565,000 common share purchase warrants, and 500,000 stock options, representing 0.5% of the issued and outstanding common shares of AIML (or approximately 2.2% on a partially diluted basis, assuming exercise of the warrants and options held).
Immediately following the Acquisition, ThreeD and the Joint Actor own and control an aggregate of 18,514,200 common shares, 23,065,000 common share purchase warrants, and 500,000 stock options of the Company, representing approximately 13.4% of all issued and outstanding common shares of AIML (or approximately 26.0% on a partially diluted basis, assuming exercise of the warrants and options held). Of this total, ThreeD held an aggregate of 15,949,200 common shares and 19,500,000 common share purchase warrants, representing approximately 11.6% of the issued and outstanding common shares of AIML (or approximately 22.5% on a partially diluted basis assuming the exercise of the warrants held). The Joint Actor held an aggregate of 2,565,000 common shares, 3,565,000 common share purchase warrants, and 500,000 stock options, representing 1.9% of the issued and outstanding common shares of AIML (or approximately 4.7% on a partially diluted basis, assuming exercise of the warrants and options held).