TR3DENT ANNOUNCES CLOSING A PRIVATE PLACEMENT FOR SENIOR SECURED CONVERTIBLE DEBENTURES
Galway, Ireland – February. 24, 2022 – Tr3Dent Limited. (the “Company” or “Tr3dent”), a leading global provider of an intuitive, end-to-end strategic planning and structured collaboration platform announced that it has successfully closed a private placement of senior secured convertible debentures (the “Debentures”) of CAD $942,500 on December 13, 2021 (the “Offering”) led by Canadian institutional and individual investors. The closing of the Offering follows prior investments into the Company including the initial investment round led by Enterprise Ireland 2017 and brings the Company’s total capital raised to date to just over CAD $2.5M. The Debentures will automatically convert to ordinary shares of the Company upon the closing of a subsequent financing associated with the company seeking a listing on a Canadian stock exchange (the “Go Public”).
With a Go Public event targeted for later this year, this Offering was a critical milestone in executing Tr3Dent’s public listing roadmap. Facilitated by Toronto-based investment and merchant bank Foundation Markets, net proceeds from the Offering will be utilized to expand the company’s sales and business development teams and strengthen its footprint in the North American markets. The closing of the Offering also is expected to allow Tr3Dent to significantly increase its product development team, accelerating the continued growth, innovation and adoption of Tr3Dent’s flagship platform, “Transformation Accelerator,” globally.
The Company has appointed Foundation Markets Inc. as its exclusive financing agent and its affiliate, FMI Capital Advisory Inc., as its exclusive financial advisor (collectively “Foundation Markets”). Foundation Markets intends to lead a subsequent financing for Tr3dent and execute its Go Public initiative in 2022 by way of a reverse take-over. Irish legal advice in connection with the Offering was provided to Tr3dent by Gavin Bluett of MacSweeney & Company Solicitors in Galway.
“This new financing validates our commitment to pioneering cutting-edge, collaborative technology that streamlines the strategic planning process and helps organizations of all sizes intelligently transform ecosystems and unlock new opportunities,” said Kevin McCaffrey, CEO and founder of Tr3Dent. “As we move toward a digital-everything world, it’s becoming increasingly more important to have an intelligent tool that can cut through the noise, visualize complex data, achieve stakeholder buy-in in record time and power the evolution of a business – even in the most tumultuous of times.”
“Backed by a seasoned executive team and innovative technology that meets a critical demand in the market, Tr3Dent has a unique perspective and clear vision for how to effectively cut across different ecosystems and bring all types of development plans to life,” said Mike Durance, CEO and managing director of technology venture capital firm xiVentures Fund and head of corporate development at Tr3Dent. “I’m thrilled to see Tr3Dent capturing the eye of North American investors and look forward to the future of its products.”
Founded and headquartered in Galway, Ireland, Tr3Dent has been an integral part of Atlantic Technological University (ATU) Innovation Hubs (iHubs) since 2015.
“Over the years, Tr3Dent has experienced rapid growth and became a standout innovator in our incubation units,” said George McCourt, head of innovation and enterprise at ATU Innovation Hubs. “Though laser-focused on the company’s future, Kevin and the Tr3Dent team also became very active in ATU community. This would be the first ATU iHubs’ client to raise funding in connection with an anticipated Canadian stock exchange listing, and we are delighted to have supported Kevin and Tr3Dent on this journey.”
With Gartner projecting IT spending to reach 4.5 trillion in 2022 alone, up 5 percent since 2021, newly adopted technologies will pose full-scale disruptions to organizations’ traditional business models, operations and ecosystems. As companies work to fast-track digital transformation projects and better support remote workforces, Tr3Dent’s Transformation Accelerator is well-positioned to empower organizations of all sizes to quickly, easily and confidently navigate digital transformation challenges.
Tr3Dent is a leading global provider of an intuitive, end-to-end strategic planning and structured collaboration platform that empowers organizations of all sizes to navigate their digital transformation journeys quickly, easily and confidently. Leveraging its expertise in visualization technology, Tr3Dent’s flagship platform, Transformation Accelerator, helps improve cross-organizational productivity and structured collaboration while simplifying the organization, design and management of the complex information required to enable successful digital transformations. Founded in 2014, Tr3Dent serves more than 500 organizations and partners around the world across a variety of industries, including management and IT consulting, technology, education, telecommunications, insurance, healthcare, supply chain and retail. Headquartered in Galway, Ireland, Tr3Dent also maintains operations in Toronto, Canada. For more information, visit www.tr3dent.com and follow on Twitter @tr3dent.
About Foundation Markets:
Foundation Markets Inc. is a leading independent merchant and investment bank located in Toronto, Canada with demonstrated expertise in providing financial advisory and capital raising services to emerging growth companies. It has successfully partnered with both private and public issuers in multiple sectors including electric vehicles, technology, consumer and diversified, junior mining and regulated industries in areas of equity and debt financing, go public transactions, mergers and acquisitions and corporate restructuring. Foundation Markets has participated in capital raises totaling over CAD $500 million to-date.
Caution Regarding Forward-Looking Information:
NO SECURITIES REGULATORY AUHTORITY OR STOCK EXCHANGE HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements to be materially different from those implied by such statements. This forward-looking information reflects the Company’s current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. These assumptions include but are not limited to: the ability of the Company to successfully execute its business plans and the Company’s continued response and ability to navigate the COVID-19 pandemic being consistent with, or better than, its ability and response to date.
The Company’s securities have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. Persons”, as such term is defined in Regulation S under the U.S. Securities Act, absent registration, or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer
to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.
Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; the actual results of the Company’s future operations; competition; changes in legislation affecting the Company; market and general economic conditions; the timing and availability of external financing on acceptable terms; lack of qualified, skilled labour or loss of key individuals; risks related to the COVID-19 pandemic including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-essential business closures, service disruptions, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a deterioration of general economic conditions including a possible national or global recession; and a deterioration of financial markets that could limit the Company’s ability to obtain external financing.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking information contained in this press release is expressly qualified by this cautionary statement. The forward-looking information contained in this press release represents the expectations of the Company as of the date
GMG PR (for Tr3Dent)
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