ThreeD Capital & Chairman Boost Stake in AIML to 22.4%
ThreeD Capital Inc. (CSE:IDK / OTCQX:IDKFF) and its chairman Sheldon Inwentash have significantly increased their stake in AI/ML Innovations Inc. (AIML). Together, they now own approximately 22.4% of AIML's issued and outstanding common shares, or about 34.3% on a partially diluted basis.
The duo's latest acquisition involved buying 26,000,000 common shares and 26,000,000 common share purchase warrants of AIML through a private placement. This represents about 10.2% of AIML's issued and outstanding common shares, or approximately 18.6% on a partially diluted basis. Notably, Sheldon Inwentash personally acquired 20,000,000 common shares and 20,000,000 common share purchase warrants, amounting to about 7.9% of AIML's issued and outstanding common shares, or approximately 14.6% on a partially diluted basis.
Prior to this acquisition, ThreeD Capital Inc. and Sheldon Inwentash already owned approximately 14.3% of AIML's issued and outstanding common shares, or about 21.5% on a partially diluted basis. ThreeD Capital Inc. alone acquired 6,000,000 common shares and 6,000,000 common share purchase warrants, representing approximately 2.4% of AIML's issued and outstanding common shares, or approximately 4.6% on a partially diluted basis.
The acquisition was completed through a private placement for a total consideration of $1,300,000, or $0.05 per unit. This strategic move by ThreeD Capital Inc. and Sheldon Inwentash strengthens their position in AIML, potentially influencing the company's future direction.
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