09:58:04 EDT Thu 28 Sep 2023
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ThreeD Capital Inc (3)
Symbol IDK
Shares Issued 46,173,052
Close 2021-08-24 C$ 1.18
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ThreeD Capital acquires 282,386 XREX preferred shares

2021-08-24 10:48 ET - News Release

Mr. Sheldon Inwentash reports


ThreeD Capital Inc. has noted that XREX Inc., a Taiwan-based blockchain tradetech company, closed its $17-million (U.S.) Pre-A round of financing.

ThreeD participated in this investment round by providing $400,000 (U.S.) to acquire 282,386 Series Pre-A preferred shares of XREX.

"We are very excited about our investment in XREX and its commitment to financial inclusion," said Sheldon Inwentash, chairman and chief executive officer of ThreeD. "The cryptocurrency space can be intimidating and complicated, especially for those in emerging economies, where access to resources and financial markets is not easily accessible. XREX is accelerating international trade for emerging economies using blockchain technology in a secure, compliant and easy-to-use manner. With the company's technology, international focus and expert management team, we believe XREX has strong growth potential and is solving a critical issue faced by cross-border merchants in today's economy."

"We've known ThreeD Capital for three years and are thrilled to have them participate in our Pre-A round. ThreeD Capital brings a rare combination of broad management experience and a deep understanding of the blockchain industry. We look forward to receiving their guidance and leveraging their network in both traditional and blockchain-focused financial industries," said Wayne Huang, co-founder and chief executive officer of XREX.

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.

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