Vancouver, British Columbia--(Newsfile Corp. - June 4, 2025) - Coloured Ties Capital Inc. (TSXV: TIE) (OTC Pink: APEOF) (FSE: 97A0) ("CTI" or the "Company") is pleased to announce a non-brokered private placement of up to 3,750,000 units (each, a "Unit") at a price of $0.20 per Unit for aggregate gross proceeds of up to $750,000 (the "Offering"). Each Unit shall be comprised of one (1) common share in the capital of the Company (each a "Common Share") and one (1) common share purchase warrant (each a "Warrant"). Each Warrant shall entitle the holder thereof to acquire one (1) Common Share at a price of $0.28 per share for a period of 36 months from the date of issuance.
All securities issued pursuant to the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The proceeds from the Offering will be used by the Company for corporate and general working capital purposes. The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.
In connection with the Offering, the Company may pay a finder's fee to eligible arm's length parties. The finder's fee may consist of a cash fee equal to 8% of the gross proceeds of the Offering.
INVESTEE COMPANIES COROPRATE UPDATE
The Company is pleased to provide a material update on two investee companies.
Lafleur Minerals Inc. (C.LFLR)
Lafleur Minerals is proceeding to restart gold production at its 100%, fully permitted and updated Beacon Gold with supply from its nearby Swanson Gold Deposit.
The Company is fast-tracking the restart of its 100%-owned, 750 tonne per day ("tpd") Beacon Gold Mill ("Beacon") in Val-d'Or, Québec, and has received significant interest from several groups for the purpose of financing the mill restart as well as to offtake material and support the ramp-up to full production with the goal to be generating cash flow by early 2026.
Immediate plans to complete at up to 10,000 metres of diamond drilling at Swanson starting in June using existing flow-through (FT) funds, with over 50 promising drilling targets identified, among the other highly prospective Bartec, Jolin, and Marimac gold targets. A drilling contractor has been selected with drilling permits expected by early June.
Recent exploration work by LaFleur Minerals at Swanson which included geological mapping and prospecting, soil sampling surveys, and Induced Polarization (IP) geophysics surveys, have resulted in several high-grade gold assay results (including 11.7 g/t Au in a grab sample at Jolin), and the identification of several new potential gold targets to be drill-tested during the upcoming drilling program. Further details are summarized below.
Geological and engineering planning continues for a large bulk sampling program at the Swanson mining lease with an updated Scoping Study and mine plan to be submitted to Québec government for approval. The plan includes the extraction of an up to 100,000 tonne surface bulk sample at Swanson for processing at the Beacon Mill once it is in full production (anticipated by early 2026)
First Towers and Fiber Corp - Merger with Akanda Corp. (NASDAQ: AKAN)
First Towers is focused on tower development and operating its 700+ km fiber optic network in the attractive wireless market of Mexico, with an intention to expand to other Latin American countries.
Owns the largest 5G dark fiber optic network in Central Mexico.
20-year master lease agreements in place for both tower development and fiber network.
Preferred partner for providing tower development to the rural regions of Mexico.
Veteran tower development team with 20+ years of experience in telecommunications infrastructure development.
27 towers deployed to date and an additional 6 under construction, with the opportunity to continue to develop in key Mexican markets.
The Company currently owns 7,000,000 shares of First Towers and will own 2,800,000 shares of Nasdaq listed Akanda Corp. as per the Share Exchange Agreement post merger.
First Towers Fiber Corp and Akana News Release dated March 10, 2025: Akanda Corp. Announces Share Exchange Agreement with First Towers and Fiber Corp.
Toronto, Ontario--(Newsfile Corp. - March 10, 2025) - Akanda Corp. (NASDAQ: AKAN) ("Akanda" or the "Company") today announced that it entered into a Share Exchange Agreement with First Towers & Fiber Corp., a corporation existing under the laws of the Province of British Columbia ("First Towers"), pursuant to which all of the common shares of First Towers (the "Exchanged Shares") shall be exchanged for either common shares, no par value, of the Company (the "Purchaser Shares"), or cash, and First Towers shall continuing as a wholly owned subsidiary of the Company (the "Transaction").
The Company expects that at the closing of the Transaction, its common shares will continue to be listed on the Nasdaq Capital Market under AKAN.
As part of the Transaction, substantially all of the shareholders of First Tower will receive consideration equal to one share of Akanda for every 2.5 First Towers shares held immediately prior to the closing, or an aggregate of approximately 15.3 million Purchaser Shares, subject to adjustment, including adjustments as a result of any reverse stock split or consolidation of the Company's shares. The remaining First Towers shareholders will instead receive as consideration an aggregate of approximately US$14.1 million, payable by the Company 18 months after the closing of the Transaction. The Company also agreed to assume outstanding options granted by First Towers and certain indebtedness of First Towers.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For further information please contact:
Coloured Ties Capital Inc.
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.
NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
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