ThreeD Capital Inc. has acquired 106,000 common shares of Avicanna Inc., increasing their ownership stake to over 2%, reflecting a strategic investment in the growing cannabis industry in Canada.
Information on the Target
ThreeD Capital Inc. (CSE:IDK / OTCQX:IDKFF) is a Canadian-based venture capital firm that specializes in opportunistic investments. Focusing primarily on the junior resources and disruptive technologies sectors, ThreeD aims to leverage emerging market opportunities to generate substantial returns. Recently, the firm increased its ownership stake in Avicanna Inc. (AVCN), a company notable for its innovative solutions in cannabis and cannabinoid-based products.
Through a series of acquisitions, ThreeD acquired 106,000 common shares of Avicanna, representing approximately 0.1% of the company’s total shares. This investment elevated the combined ownership of ThreeD and Sheldon Inwentash, its Joint Actor, to over 2% on a partially diluted basis, highlighting a strategic move to expand their influence in Avicanna.
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Industry Overview in Canada
The cannabis industry in Canada has undergone significant transformations following the legalization of recreational cannabis in October 2018. This landmark decision has deregulated the cannabis market, foste
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Disclosed details
Transaction Size: $0M