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Coloured Ties and First Responder Announce Amended Terms of Concurrent Financings
Vancouver, British Columbia--(Newsfile Corp. - December 20, 2023) - Coloured Ties Capital Inc. (T...
About this update from Coloured Ties Capital Inc
[{"type":"text","content":"Coloured Ties and First Responder Announce Amended Terms of Concurrent FinancingsVancouver, British Columbia--(Newsfile Corp. - December 20, 2023) - Coloured Ties Capital Inc. (TSXV: TIE) (\"CTI\") and First Responder Technologies Inc. (CSE: WPN) (\"First Responder\") today announced, further to their joint news releases on May 9, 2023 and December 7, 2023, that First Responder and Quebec Pegmatite Corp. (\"QPC\"), a subsidiary of CTI, have agreed to revise certain terms of the two concurrent non-brokered private placements (each, a \"Concurrent Financing\"), arranged in connection with their proposed business combination transaction (the \"Proposed Transaction\").The first Concurrent Financing will be increased from the issuance of up to 4,000,000 units of QPC (the \"Non-FT Units\") at a price of $0.15 per Non-FT Unit for gross proceeds of up to $600,000 to up to 4,500,000 Non-FT Units at a price of $0.15 per Non-FT Unit for gross proceeds of up to $675,000. The offering price of the second Concurrent Financing will be increased from $0.29 to $0.30 per flow-through share of QPC (the \"FT Shares\"). The second Concurrent Financing will consist of the issue of up to 3,333,334 FT Shares at $0.30 per FT Share for gross proceeds of up to approximately $1,000,000. The terms of the Non-FT Units are unchanged. Each Non-FT Unit will be comprised of one common share in the capital of QPC (each, a \"Share\") and one whole share purchase warrant (each, a \"Warrant\"). Each Warrant will entitle the holder to purchase one additional Share (each, a \"Warrant Share\") for a period of five years from the date of issuance at an exercise price of $0.25 per Warrant Share. The Warrants will be subject to an accelerated expiry upon thirty (30) days' notice from QPC in the event the common shares of QPC trade for fourteen (14) consecutive trading days at a volume-weighted average price of at least $0.50 on the stock exchange the Shares are then listed or traded. Each FT Share will be issued as a \"flow-through share\" within the meaning of the Income Tax Act (Canada) (the \"Tax Act\") that will be issued as part of a charity arrangement. The gross proceeds from the issuance of the FT Shares will be used to incur \"Canadian Exploration Expenses\" that will qualify as \"flow-through mining expenditures\", as such terms are defined in the Tax Act, relat...