- Coloured Ties Capital (TIE) will offer to purchase for cancellation up to $3,375,000 of its outstanding common shares
- Participating shareholders will select a price between $0.55 and $0.65 that they are willing to sell their shares for
- The company will purchase the maximum number of shares tendered for a total purchase price not exceeding $3,375,000
- Participation in the offering is optional, and shareholders who do participate will realize a proportionate increase in their equity interest in the company
- Coloured Ties Capital Inc. is a Canadian company engaged in the exploration of near-surface phosphates, potash and other minerals in Peru
- Coloured Ties Capital Inc. (TIE) opened trading at C$0.61
Coloured Ties Capital (TIE) has commenced its previously announced substantial issuer bid.
Under the bid, the company will offer to purchase for cancellation up to $3,375,000 of its outstanding common shares. The offer will expire on January 17, 2023. Settlement will occur on or about January 19, 2023
The bid is being made by way of a “modified Dutch auction,” which will allow shareholders who choose to participate to select the price, with a range of not less than $0.55 and not more than $0.65 per share they are willing to sell their shares. The company will determine the lowest purchase price that will allow it to purchase the maximum number of shares tendered with a total purchase price not exceeding $3,375,000.
Shareholders who wish to participate in the offer will be able to do so through auction tenders, in which they specify the number of shares being tendered at a specific price per Share, or purchase price tenders, in which they agree to have a specified number of shares purchased at the purchase price to be determined.
Shareholders are free to choose whether to participate, how many shares to tender and, in the case of auction tenders, at what price to tender. Shareholders who do participate will realize a proportionate increase in their equity interest in the company.
Coloured Ties Capital Inc. is a Canadian company engaged in the exploration of near-surface phosphates, potash and other minerals and the potential development of a fertilizer project in Peru.
Coloured Ties Capital Inc. (TIE) opened trading at C$0.61.