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Coloured Ties Capital Inc. (TSXV: TIE) (the "Company"). Further to the Company's August 19, 2022 news release, the Company announces that it received shareholder approval at the Company's September 23, 2022 annual general meeting, to the Company's new form 10% rolling share option plan dated for reference August 18, 2022 (the "Share Option Plan") and amended 10% fixed restricted share unit plan dated for reference July 1, 2019, as amended on April 24, 2020 and as further amended on August 18, 2022 (the "Fixed RSU Plan") as conditionally approved by the TSX Venture Exchange, to comply with the requirements of the new TSX Venture Exchange policy governing security-based compensation which became effective November 24, 2021.
One of the provisions to the Company's Share Option Plan is allowing option holders to exercise options on a "Cashless Exercise" or "Net Exercise" basis, as now expressly permitted by new TSX Venture Exchange Policy 4.4- Security Based Compensation.
Shareholders also approved an increase of the maximum number of common shares under the Fixed RSU Plan, by an additional 1,211,186 Common Shares, to a total maximum of 2,211,186 Common Shares.
Additional details regarding the Share Option Plan and Fixed RSU Plan and the increases of maximum number of Common Shares, are contained in the information circular filed on SEDAR under the Company's SEDAR corporate website in respect of the September 23, 2022 annual general meeting.
Complete copies of the Share Option Plan and Fixed RSU Plan are available for viewing under the Company's profile on SEDAR at www.sedar.com.
For further information please contact:
Coloured Ties Capital Inc.
Nancy Boufeas - Corporate Secertary
Email: nancy.mknservices@gmail.com
Forward-Looking Statements
This news release contains certain forward-looking statements, including, but not limited to, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof. Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
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/147835
