Vancouver, British Columbia--(Newsfile Corp. - August 19, 2022) - Coloured Ties Capital Inc. (TSXV: TIE) (OTC Pink: APEOF) (FSE: 97A0FRA) ("Coloured Ties" or the "Company") announces that the Company's board of directors have adopted a new form share option plan (the "New Option Plan"), to replace the Company's current 10% "rolling" share option plan. The New Option Plan was created to comply with the requirements of the new TSX Venture Exchange policy governing security-based compensation which became effective November 24, 2021. The New Option Plan also allows option holders to exercise options on a "Cashless Exercise" or "Net Exercise" basis, as now expressly permitted by the new policy. The New Option Plan has been conditionally approved by the TSX Venture Exchange and is subject to shareholder ratification at the Company's annual general and special meeting scheduled for September 23, 2022.
Also, the Company's board of directors have made amendments to its fixed restricted share unit plan to comply with the requirements of the new TSX Venture Exchange policy governing security-based compensation which became effective November 24, 2021 (the "Amended and Restated Fixed Restricted Share Unit Plan"). The Amended and Restated Fixed Restricted Share Unit Plan has also been conditionally approved by the TSX Venture Exchange and is also subject to shareholder ratification at the Company's annual general and special meeting scheduled for September 23, 2022.
Additional details regarding the New Option Plan and the Amended and Restated Fixed Restricted Share Unit Plan are contained in the information circular which will be filed on SEDAR in respect of the annual general and special meeting.
For further information please contact:
Chief Executive Officer
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.
This news release contains certain forward-looking statements, including, but not limited to, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof. Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
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