Business
Coloured Ties Terminates Arnett Creek NSR Purchase Agreement
Vancouver, British Columbia--(Newsfile Corp. - August 25, 2022) - Coloured Ties Capital Inc. (...
About this update from Coloured Ties Capital Inc
[{"type":"text","content":"Coloured Ties Terminates Arnett Creek NSR Purchase AgreementVancouver, British Columbia--(Newsfile Corp. - August 25, 2022) - Coloured Ties Capital Inc. (TSXV: TIE) (OTC Pink: APEOF) (FSE: 97A0FRA) (\"Coloured Ties\" or the \"Company\") provides the following corporate update. On August 19, 2022, Coloured Ties announced that it had entered into an amended and restated royalty purchase agreement (the \"Amended and Restated Agreement\") with BullRun Capital Inc. (\"BullRun\") pursuant to which it would acquire (the \"Acquisition\") a one percent (1%) net smelter return royalty (the \"NSR Royalty\") on the Arnett Creek Gold Project currently being developed by Revival Gold Inc. (\"Revival\"). The Amended and Restated Agreement replaced the previously announced royalty purchase agreement.Coloured Ties and Bullrun Capital have agreed to terminate the NSR Purchase Agreement, and the Company will not be pursuing the Arnett Creek NSR.Through the Company's relationship with Patriot Battery Metals, Coloured Ties has become introduced to several Australian based public companies and is currently investigating potential business relationships with these entities. There is no guarantee any transaction will transpire, and the Company will update shareholders as talks progress.Mr. Kal Malhi, CEO, Coloured Ties states, \"We remain committed to delivering great returns for our shareholders and after a careful review of the Arnett Creek NSR situation, we feel the Company's capital can achieve better returns in other investments that currently exist in these depressed capital markets. We will continue to update shareholders on upcoming transactions as they transpire.\"For further information please contact:Kal MalhiChief Executive [email protected] 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. Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed in...