- Coloured Ties Capital (TIE) has signed a loan agreement with Quebec Pegmatite Corporation
- According to the terms of the agreement, Coloured Ties agreed to lend Quebec Pegmatite C$1,185,288.50
- The loan shall bear annual interest at a rate of 4.0 per cent and is due in full on December 31, 2024
- Coloured Ties Capital Inc. is an investment company with extensive expertise in portfolio allocation, investment selection, and due diligence
- Coloured Ties Capital Inc. opened trading at $0.95 per share
Coloured Ties Capital (TIE) has signed a loan agreement with Quebec Pegmatite Corporation.
According to the terms of the agreement, Coloured Ties has agreed to lend Quebec Pegmatite C$1,185,288.50.
The loan shall bear annual interest at a rate of 4.0 per cent and is due in full on December 31, 2024.
Since Quebec Pegmatite is a subsidiary of the company, the loan constitutes a “related party transaction” as defined under TSX Venture Exchange Policy 5.9 – Protection of Minority Securityholders in Special Transactions and Multilateral Instrument 61 – 101 – Protection of Minority Security Holders in Special Transactions (MI 61-101).
The loan is exempt from the formal valuation, and minority shareholder approval requirements of MI 61-101 as the fair market value of the loan exceeds 25 per cent of the company’s market capitalization.
Coloured Ties Capital Inc. is an investment company with extensive expertise in portfolio allocation, investment selection, and due diligence. The company has one operating segment, which is the acquisition and sale of investments in other companies.
Coloured Ties Capital Inc. (TIE) opened trading at $0.95 per share.
