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Coloured Ties Capital Inc. Announces Change of Auditor

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Coloured Ties Capital, an investment company, announced a change in auditors. Effective immediately, Reliant, CPA PC has been terminated, and MNP, LLP has been appointed as the new auditor. The decision was made by the company's board of directors. Notably, there were no reservations in Reliant's audit reports during its tenure, and no reportable events occurred between Coloured Ties Capital and Reliant. This change complies with National Instrument 51-102, and all relevant documents will be filed on SEDAR.

Positive
  • The company's new auditor, MNP, LLP, may provide fresh perspectives and potentially lead to improved audit processes.
Negative
  • The termination of Reliant, CPA PC could signal underlying issues not disclosed in the PR.

Vancouver, British Columbia--(Newsfile Corp. - July 10, 2024) - Coloured Ties Capital Inc. (TSXV: TIE) (OTC Pink: APEOF) (FSE: 97A0) ("Coloured Ties" or the "Company"), an investment company focused on business incubation and opportunities that disrupt their industry, announces that the Company's auditors, Reliant, CPA PC ("Reliant") have been terminated by resolution of the directors of the Company.

The Company's board of directors will fill the vacancy by appointing MNP, LLP ("MNP") as auditors.

There were no reservations in Reliant's audit reports for any financial period during which Reliant was the Company's auditor. There are no "reportable events" (as the term is defined in National Instrument 51-102 - Continuous Disclosure Obligations) between the Company and Reliant.

In accordance with National Instrument 51-102, the Notice of Change of Auditor, together with the required letters from Reliant and MNP, have been reviewed by the Company's board of directors and will be filed on SEDAR accordingly.

On behalf of the Board of Directors

"Kal Malhi"
CEO and Director
Email: kal@bullruncapital.ca

FORWARD LOOKING STATEMENTS:

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/216118

FAQ

Why did Coloured Ties Capital change its auditor?

Coloured Ties Capital changed its auditor from Reliant, CPA PC to MNP, LLP by a resolution of the board of directors.

When did Coloured Ties Capital announce the change of auditor?

The change of auditor was announced on July 10, 2024.

What is the new auditor's name for Coloured Ties Capital?

The new auditor appointed for Coloured Ties Capital is MNP, LLP.

Were there any reservations in the audit reports by Reliant, CPA PC for Coloured Ties Capital?

No, there were no reservations in the audit reports by Reliant, CPA PC during their tenure.

Are there any reportable events between Coloured Ties Capital and Reliant, CPA PC?

No, there are no reportable events between Coloured Ties Capital and Reliant, CPA PC.

What compliance guidelines does Coloured Ties Capital follow for auditor changes?

Coloured Ties Capital follows the National Instrument 51-102 - Continuous Disclosure Obligations for auditor changes.

Where will Coloured Ties Capital file the notice of change of auditor?

Coloured Ties Capital will file the notice of change of auditor on SEDAR.

Coloured Ties Capital Inc.

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