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Coloured Ties Capital Inc. (TSXV: TIE) announces loan agreements with Flowing Lithium Exploration Inc. and Canuck Lithium Corp., detailing terms, repayment, related party transactions, and exemption information under MI 61-101. The loans were repaid in full, and the Company is working to return to trading on the TSX Venture Exchange.
Coloured Ties Capital Inc. (TSXV: TIE) annuncia accordi di prestito con Flowing Lithium Exploration Inc. e Canuck Lithium Corp., specificando termini, modalità di rimborso, transazioni tra parti correlate e informazioni sulle esenzioni in base alla normativa MI 61-101. I prestiti sono stati completamente rimborsati e la Società sta lavorando per riprendere le attività di trading sulla TSX Venture Exchange.
Coloured Ties Capital Inc. (TSXV: TIE) anuncia acuerdos de préstamo con Flowing Lithium Exploration Inc. y Canuck Lithium Corp., detallando términos, reembolso, transacciones entre partes relacionadas y información sobre exenciones bajo MI 61-101. Los préstamos han sido completamente pagados y la Compañía está trabajando para volver a cotizar en la Bolsa de Valores TSX Venture.
Coloured Ties Capital Inc. (TSXV: TIE)는 Flowing Lithium Exploration Inc. 및 Canuck Lithium Corp.과의 대출 계약을 발표하며 대출 조건, 상환, 관련 당사자 거래 및 MI 61-101에 따른 면제 사항을 자세히 설명합니다. 대출금은 전액 상환되었으며 회사는 TSX Venture Exchange에서 거래가 재개될 수 있도록 작업하고 있습니다.
Coloured Ties Capital Inc. (TSXV: TIE) annonce des accords de prêt avec Flowing Lithium Exploration Inc. et Canuck Lithium Corp., détaillant les conditions, le remboursement, les transactions avec parties liées et les informations sur les exemptions sous MI 61-101. Les prêts ont été entièrement remboursés et la société travaille à reprendre la cotation à la Bourse de croissance TSX.
Coloured Ties Capital Inc. (TSXV: TIE) kündigt Darlehensvereinbarungen mit Flowing Lithium Exploration Inc. und Canuck Lithium Corp. an, die Bedingungen, Rückzahlungen, Geschäfte zwischen verbundenen Parteien und Ausnahmeregelungen gemäß MI 61-101 darlegen. Die Darlehen wurden vollständig zurückgezahlt und das Unternehmen arbeitet daran, den Handel an der TSX Venture Exchange wieder aufzunehmen.
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Vancouver, British Columbia--(Newsfile Corp. - April 26, 2024) - Coloured Ties Capital Inc. (TSXV: TIE) (OTC Pink: APEOF) (FSE: 97A0) ("CTI" or the "Company"), at the request of the TSX Venture Exchange, provides the following clarifying news release with respect to certain loan agreements entered into by the Company during the fiscal year 2023.
The Company entered into a loan agreement dated March 1, 2023 (the "FLELoan Agreement") with Flowing Lithium Exploration Inc. ("FLE"), pursuant to which the Company agreed to lend FLE CDN$300,000.00 (the "FLELoan"). The FLE Loan beared interest at a rate of 4.0% per annum and was due in full on December 31, 2023. The loan was repaid in full on December 8, 2023. The loan to FLE was not considered an arm's length transaction as Rauni Malhi, a 10% insider of the Company, is also a control person of FLE. The loan to FLE constitutes a "related party transaction" as defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"). The Company is relying on the exemption from valuation requirement and minority approval pursuant to subsection 5.5(a) and 5.7(a) of MI 61-101, respectively, as the loan does not represent more than 25% of the Company's market capitalization, as determined in accordance with MI 61-101.
Additionally, the Company entered into a loan agreement dated June 1, 2023 (the "CanuckLoan Agreement") with Canuck Lithium Corp. ("Canuck"), pursuant to which the Company has agreed to lend Canuck CDN$265,000.00 (the "CanuckLoan"). The Canuck Loan shall bear interest at a rate of 4.0% per annum and is due in full on December 31, 2024 a date which was extended form the original due date of December 31, 2023 The loan to Canuck was not considered an arm's length transaction as Christopher Cooper, a director of the Companywas a Director of Canuck at the time of the loan. The loan to Canuck constitutes a "related party transaction" as defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"). The Company is relying on the exemption from valuation requirement and minority approval pursuant to subsection 5.5(a) and 5.7(a) of MI 61-101, respectively, as the loan does not represent more than 25% of the Company's market capitalization, as determined in accordance with MI 61-101.
FLE and Canuck are arm's length from each other.
The Company is continuing to work with the TSX Venture Exchange to return to trading in the near future and will provide updates on the status as obtained from the TSX Venture Exchange.
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.
What loan agreements did Coloured Ties Capital Inc. announce?
Coloured Ties Capital Inc. announced loan agreements with Flowing Lithium Exploration Inc. and Canuck Lithium Corp.
What was the loan amount for the FLE Loan Agreement?
The FLE Loan Agreement involved lending CDN$300,000.00 to Flowing Lithium Exploration Inc.
When was the FLE Loan Agreement due?
The FLE Loan Agreement was due in full on December 31, 2023, and it was repaid in full on December 8, 2023.
Who is considered a related party in the loan agreements?
Rauni Malhi, a 10% insider of Coloured Ties Capital Inc., is considered a related party due to their connection with Flowing Lithium Exploration Inc. Christopher Cooper, a director of the Company, was also considered a related party in the Canuck Loan Agreement.
What exemption is the Company relying on in the loan agreements?
The Company is relying on the exemption from valuation requirement and minority approval pursuant to subsection 5.5(a) and 5.7(a) of Multilateral Instrument 61-101 for both loan agreements.
Are FLE and Canuck arm's length from each other?
Yes, FLE and Canuck are arm's length from each other.
What is the status of Coloured Ties Capital Inc. with the TSX Venture Exchange?
The Company is working with the TSX Venture Exchange to return to trading in the near future and will provide updates on the status as obtained from the TSX Venture Exchange.
