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Coloured Ties and First Responder Announce Share Exchange Agreement for Proposed Takeover Transaction of Quebec Pegmatite Corp.
Vancouver, British Columbia--(Newsfile Corp. - May 9, 2023) - Coloured Ties Capital Inc. (TSXV: ...
About this update from Coloured Ties Capital Inc
[{"type":"text","content":"Coloured Ties and First Responder Announce Share Exchange Agreement for Proposed Takeover Transaction of Quebec Pegmatite Corp.Vancouver, British Columbia--(Newsfile Corp. - May 9, 2023) - Coloured Ties Capital Inc. (TSXV: TIE) (\"Coloured Ties\") and First Responder Technologies Inc. (CSE: WPN) (OTC Pink: WPNNF) (FSE: 3WK) (\"First Responder\"), are pleased to announce that First Responder has entered into a share exchange agreement dated May 8, 2023 (the \"Share Exchange Agreement\") with Quebec Pegmatite Corp. (\"QPC\"), a subsidiary of Coloured Ties in respect of a proposed business transaction (the \"Proposed Transaction\"). It is anticipated that the Proposed Transaction will constitute a \"fundamental change\" of First Responder in accordance with Policy 8 - Fundamental Changes and Changes of Business of the Canadian Securities Exchange (the \"CSE\").About Quebec Pegamatite Corp.Quebec Pegmatite is a North American junior mining exploration company that specializes in lithium exploration and owns 100% of two properties, with both located in Quebec's highly sought after lithium regions, James Bay and Mazérac. Quebec Pegmatite's flagship properties are located in the James Bay and Mazérac regions, covering approximately 258 km². The Mazérac property (the \"Property\") is located about 50km southwest of the historic mining town Val-d'Or and easily accessible. The Property is located near Vision Lithium's Cadillac property and Winsome Resources' Decelles property. QPC plans aggressive and extensive exploration programs for 2023 to explore the lithium potential for the Property.Summary of the Proposed Transaction The Share Exchange Agreement provides that First Responder will acquire all of the issued and outstanding common shares of QPC (the \"QPC Shares\"), and shareholders of QPC will receive First Responder common shares (the \"First Responder Shares\") in exchange for their QPC Shares, resulting in a reverse takeover of First Responder by QPC. It is intended that First Responder Shares will be issued to holders of QPC Shares on the basis of one (1) First Responder Share for every one (1) QPC Share at a deemed price of $0.42 per First Responder Share, resulting in the issuance of an aggregate 11,000,000 First Responder Shares to the shareholders of QPC. It is anticipated that First Responder will change...