Vancouver, British Columbia--(Newsfile Corp. - March 3, 2023) - Coloured Ties Capital Inc. (TSXV: TIE) ("CTI" or the "Company") is pleased to announce that it has entered into a loan agreement dated March 1, 2023 (the "Loan Agreement") with Quebec Pegmatite Corporation ("Quebec Pegmatite"), pursuant to which the Company has agreed to lend Quebec Pegmatite CDN$1,185,288.50 (the "QPC Loan"). The QPC Loan shall bear interest at a rate of 4.0% per annum and is due in full on December 31, 2024.
Quebec Pegmatite is a subsidiary of the Company. As such, the Loan constitutes a "related party transaction" as defined under TSX Venture Exchange Policy 5.9 - Protection of Minority Securityholders in Special Transactions and Multilateral Instrument 61 - 101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Such QPC Loan is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the QPC Loan exceed 25% of the Company's market capitalization.
For further information please contact:
Coloured Ties Capital Inc. Kal Malhi Chief Executive Officer firstname.lastname@example.org
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.