The Conversation (0)
Coloured Ties Capital Inc. (TSXV: TIE,OTC:APEOF) (OTC Pink: APEOF) (FSE: 97A0) ("CTI" or the "Company") announces it has completed its non-brokered private placement and issued 4,444,444 units of the Company (the "Units") at a price of $0.225 per Unit for gross proceeds of $1,000,000 (the "Offering").
Each Unit is comprised of one (1) common share in the capital of the Company (each a "Common Share") and one (1) common share purchase warrant (each a "Warrant"). Each Warrant entitles the holder thereof to acquire one (1) Common Share at a price of $0.28 per share for a period of 36 months from the date of issuance.
All securities issued pursuant to the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The proceeds from the Offering will be used by the Company for corporate and general working capital purposes. The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For further information please contact:
Coloured Ties Capital Inc.
Kal Malhi Chief Executive Officer
kal@bullruncapital.ca
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.
NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/263170
