Vancouver, British Columbia--(Newsfile Corp. - August 25, 2022) - Coloured Ties Capital Inc. (TSXV: TIE) (OTC Pink: APEOF) (FSE:97A0FRA) ("Coloured Ties" or the "Company") provides the following corporate update.
On August 19, 2022, Coloured Ties announced that it had entered into an amended and restated royalty purchase agreement (the "Amended and RestatedAgreement") with BullRun Capital Inc. ("BullRun") pursuant to which it would acquire (the "Acquisition") a one percent (1%) net smelter return royalty (the "NSR Royalty") on the Arnett Creek Gold Project currently being developed by Revival Gold Inc. ("Revival"). The Amended and Restated Agreement replaced the previously announced royalty purchase agreement.
Coloured Ties and Bullrun Capital have agreed to terminate the NSR Purchase Agreement, and the Company will not be pursuing the Arnett Creek NSR.
Through the Company's relationship with Patriot Battery Metals, Coloured Ties has become introduced to several Australian based public companies and is currently investigating potential business relationships with these entities. There is no guarantee any transaction will transpire, and the Company will update shareholders as talks progress.
Mr. Kal Malhi, CEO, Coloured Ties states, "We remain committed to delivering great returns for our shareholders and after a careful review of the Arnett Creek NSR situation, we feel the Company's capital can achieve better returns in other investments that currently exist in these depressed capital markets. We will continue to update shareholders on upcoming transactions as they transpire."
For further information please contact:
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.
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.
The forward-looking statements contained in this news release present the expectations of the Company as of the date hereof and, accordingly, is subject to change after such date. Readers are cautioned not to place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134917
