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- Coloured Ties Capital and Kal Malhi have brought a defamation claim against Labrador Gold and all of its directors over a February 2, 2026 shareholder letter.
- The action claims the letter knowingly used false statements and inflammatory visuals, including depicting Kal Malhi appearing to remove cash from a vault under the headline "MALHICIOUS INTENT", portraying the plaintiffs as thieves and a threat to shareholder property.
- The plaintiffs are seeking an injunction to stop further publication plus general, special, aggravated, and punitive damages, asserting the case is about truth and accountability.
Coloured Ties Capital Inc. (TSXV: TIE,OTC:APEOF) (OTC Pink: APEOF) (FSE: 97A0) ("CTI" or "Coloured Ties"), is one of the largest shareholders of Labrador Gold Corp. (TSXV: LAB) (OTCQB: NKOSF) (FSE: 2N6) ("Labrador" or the "Company"). Coloured Ties together with Kulwant (Kal) Malhi (the "Plaintiffs"), announce that they have commenced a defamation claim against Labrador, James R. Borland, Leonidas Karabelas, Roger Moss and Trevor Boyd (the "Defendants") with the Ontario Superior Court of Justice (the "Claim").
The Claim alleges that, among other things, on February 2, 2026 the Defendants caused to be published a letter to shareholders in the name of Labrador's board of directors and entitled "The Dissident's Motives Exposed: A Message From Your Board of Directors at Labrador Gold", together with its associated cover pages, graphics, and proxy messaging (collectively, the "Letter"). The Letter was disseminated as campaign material urging shareholders to vote management's proxy and to protect their Labrador investment from the Plaintiffs.
The Claim alleges that Labrador knowingly published and disseminated false and defamatory statements accompanied by misleading and inflammatory imagery. Through its language, headings, imagery, and overall presentation, including the prominent headline "MALHICIOUS INTENT" and a depiction of Kal Malhi as a figure carrying away shareholder money from a vault, the Letter was designed to depict the Plaintiffs as thieves, dishonest, predatory, and a threat to shareholder property. The Defendants' use of misleading imagery and accompanying statements was reckless as to the truth and presented in a manner that is causing serious reputational harm to the Plaintiffs. In the Claim, the Plaintiffs seek, among other things, injunctive relief restraining the Defendants from further publishing or republishing the false, misleading and defamatory imagery and statements, and monetary damages for defamation from the Defendants including general, special, aggravated, and punitive damages, to be determined at trial.
The Plaintiffs are confident in the merits of the Claim. This case is about truth and accountability. The Plaintiffs are significant shareholders of Labrador who engaged through conventional shareholder channels to address governance and strategic concerns. No public company or board is entitled to invent misconduct or use fabricated imagery to falsely discredit shareholders and manipulate the proxy process.
About Coloured Ties Capital Inc.
Coloured Ties is a publicly traded Canadian-based venture capital firm focused on early-stage investments in companies in the junior resources and breakthrough and disruptive technologies. Coloured Ties' investment strategy is to invest early in multiple private and public companies across a variety of sectors that merit investment to advance promising ventures globally. Coloured Ties invests early-stage in promising projects, serving as the Founding or Early-Stage investor and providing investees with advisory services and access to the Company's ecosystem.
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.
Forward-Looking Statements: Certain information in this news release may constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking statements and information generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "should," "plans," "continue," or similar expressions suggesting future outcomes or events. Forward-looking information in this news release may include, but is not limited to, statements regarding the outcome of the Claim. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements and information are based will occur or, even if they do occur, will result in the plans or results expected. We caution readers not to place undue reliance on forward-looking statements and information contained in this news release, which are not a guarantee of events or results and are subject to a number of risks, uncertainties and other factors that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements or information. These factors include failure to be successful in prosecuting the Claim at the Ontario Superior Court of Justice. Shareholders are cautioned that all forward-looking statements and information involve risks and uncertainties.
The forward-looking statements and information contained in this news release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements and information included in this news release are made as of the date hereof and the Plaintiffs undertake no obligation to publicly update such forward-looking statements or information to reflect new information, subsequent events or otherwise, except as required by applicable laws.
SOURCE Coloured Ties Capital Inc.
View original content: http://www.newswire.ca/en/releases/archive/February2026/09/c3974.html
