- Coloured Ties Capital (TIE) has amended its substantial issuer bid to purchase up to C$3,375,000 common shares at C$0.45 per share
- The company amended the purchase price of the shares from C$0.45 per share to between $0.55 to $0.65
- The offer is proceeding by way of a modified “Dutch Auction” within a price range not less than $0.55 per share and not more than $0.65 per share
- Coloured Ties Capital Inc. is a Canada-based company engaged in the exploration of near-surface phosphates, potash and other minerals
- Coloured Ties Capital Inc. was up 2.00 per cent, trading at $0.51 at 11:34 AM ET
Coloured Ties Capital (TIE) has amended its substantial issuer bid to purchase up to C$3,375,000 common shares at C$0.45 per share.
The company amended the purchase price of the shares from C$0.45 per share to between $0.55 to $0.65.
The offer is proceeding by way of a modified “Dutch Auction” within a price range not less than $0.55 per share and not more than $0.65 per share (in increments of $0.01 within that range).
The tender process allows shareholders who wish to participate in the offer to be able to do so in two ways.
The first is through auction tenders, in which they will specify the number of shares being tendered at a price of not less than the lower limit and not more than the higher limit (in increments of $0.01 within that range.
The second is through the purchase price tenders in which they will not specify a price per share but will rather agree to a specified number of shares purchased at the purchase price to be determined by auction tenders.
The offer is expected to commence on or about December 12, 2022, and will expire on January 17, 2023.
The company’s board of directors believes that repurchasing the shares is in the best interest of the company’s shareholders.
The offer provides the company’s shareholders with an opportunity to realize all or a portion of their investment in the company.
Coloured Ties Capital Inc. is a Canada-based company engaged in the exploration of near-surface phosphates, potash and other minerals and the potential development of a fertilizer project in Peru.
Coloured Ties Capital Inc. was up 2.00 per cent, trading at $0.51 at 11:34 AM ET.
