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This press release is being issued in connection with the filing of an early warning report (the "Early Warning Report") pursuant to the requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues regarding the acquisition of securities of Coloured Ties Capital Inc. (the "Issuer") by Kulwant (Kal) Malhi (the "Acquiror"). The Acquiror is a director and Chairman of the Issuer, and resides at 10589 Ladner Trunk Road, Vancouver, BC V4K 3N3. The Issuer's head office is located at Suite 1500-1055 West Georgia Street, Vancouver, BC V6E 4N7.
On May 23, 2025, the Issuer granted 580,000 restricted share units ("RSUs") to the Acquiror (the "Grant"). Each RSU entitles the Acquiror to acquire one common share ( "Common Share") in the capital of the Issuer.
Prior to the Grant, the Acquiror held, directly and indirectly, 2,617,700 Common Shares, 1,113,384 common share purchase warrants, 700,000 share options and 700,000 RSUs representing approximately 15.01% of the issued and outstanding Common Shares (on a non-diluted basis), and 29.42% of the issued and outstanding Common Shares (on a partially diluted basis), based on an aggregate of 17,442,491 issued and outstanding Shares prior to the closing of the Transaction.
Following the Grant, the Acquiror held, directly and indirectly 2,617,700 Common Shares, 1,113,384 common share purchase warrants, 700,000 share options and 1,280,000 RSUs, representing approximately 15.01% of the issued and outstanding Shares (on a non-diluted basis), and 32.74% of the issued and outstanding Common Shares (on a partially diluted basis), based on an aggregate of 17,442,491 issued and outstanding Common Shares following the closing of the Grant..
The Acquiror may, depending on market and other conditions, increase or decrease its ownership of the Issuer's securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.
For further information, or to obtain a copy of the Early Warning Report filed under applicable securities laws, please contact:
Kulwant (Kal) Malhi
Telephone: 604-805-4602
Email: kal@bullruncapital.ca
This early warning news release is issued under the early warning provisions of Canadian securities legislation, including National Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/262308
