Coloured Ties Provides Reminder of the Upcoming Expiration Time of Its Substantial Issuer Bid
Vancouver, British Columbia--(Newsfile Corp. - August 21, 2023) - Coloured Ties Capital Inc. (TSXV: TIE) (OTC Pink: APEOF) (FSE: 97A0) ("Coloured Ties or the "Company"), today provided a reminder of its offer (the "Offer") to repurchase for cancellation up to $3,750,000 of its common shares (the "Common Shares"). The Offer will expire at 5:00pm Eastern Time on August 28, 2023.
The Offer is being made by way of a "modified Dutch auction," which will allow Shareholders who choose to participate in the Offer to individually select the price, within a range of not less than $1.00 and not more than $1.20 (in increments of $0.01 per Common Share), at which they are willing to sell their Common Shares. Upon expiry of the Offer, the Company will determine the lowest purchase price (which will not be more than $1.20 per Share and not less than $1.00 per Share) that will allow it to purchase the maximum number of Shares tendered to the Offer, and not withdrawn, having an aggregate purchase price not exceeding $3,750,000.
Shareholders are urged to consult the formal offer to purchase and issuer bid circular, together with the Notice of Variation, Amended Letter of Transmittal and Amended Notice of Guaranteed Delivery (the "Offer Documents") for the terms and conditions of the Offer and instructions for tendering Common Shares. The Offer Documents were mailed to Shareholders or their designated brokers, and are also available on SEDAR+ at www.sedarplus.ca.
None of CTI nor its Board of Directors makes any recommendation to Shareholders as to whether to tender or refrain from tendering any or all of their Common Shares in the Offer or as to the purchase price or prices at which Shareholders may choose to tender Common Shares.
Shareholders are urged to read the Offer Documents carefully and in their entirety, and to consult their own financial, tax, and legal advisors and to make their own decisions with respect to participation in the Offer. Shareholders who hold Common Shares under an intermediary should contact their intermediary as soon as possible to ensure that their Common Shares are tendered with enough advance notice to meet the 5:00pm Eastern Time on August 28, 2023.
This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any Common Shares.
For further information please contact:
Coloured Ties Capital Inc.
Kal Malhi Chief Executive Officer
Computershare Investor Services Inc.
Toll Free in Canada and the U.S.: 1.800.564.6253
Outside North America: 1.514.982.7555
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/177979