Vancouver, British Columbia–(Newsfile Corp. – August 19, 2022) – Coloured Ties Capital Inc. (TSXV: TIE) (OTC Pink: APEOF) (FSE: 97A0FRA) (“Coloured Ties” or the “Company”) provides the following corporate update.
LITHIUM CLAIMS ACQUIRED IN QUEBEC LITHIUM BELT
On July 25, 2022, Coloured Ties reported that the Company has purchased 62 mineral claims, in the Cadillac-Pontiac region, about 50km southwest of Val-d’Or. The claims are immediately adjacent to claims currently held by Winsome Resources, a well-funded ASX listed Lithium exploration company and Vision Lithium, a TSX-V listed Lithium explorer. The Mazérac claims are accessible by a dense network of trails and other logging roads. The area also accessible through boat or seaplane within watershed of Decelles water reservoir, hosting the Rapid-7 hydroelectric dam of Decelles.
The general area has recently attracted many lithium prospecting and exploration companies such as Brunswick Exploration, High Tide Resources, Medaro Mining, NeoTerrex Corporation (private company), Renforth Resources, Sayona Mining, Vision Lithium, and Winsome Resources.
The Cadillac-Pontiac area has gained attention due to recent discoveries of several high-grade spodumene prospects. The latest discovery of high-grade lithium prospects by Vision Lithium Inc, spurred several other exploration and drill programs within the Cadillac area. Since December 2021, approximately 4000 new claims have been registered in the greater Mazerac area and the Pontiac Sub province region, south of Val-d’Or and Rouyn-Noranda.
The claims have been acquired from prospectors, Mr Griesbach and Junita Asihto. Mr Griesbach is a Canadian-certified geologist with more than 40 years of mineral exploration experience across Canada, Africa, China, and Southeast Asia; Mr. Junita Asihto is a Quebec-based prospector with a strong understanding of the Mazérac region. The acquisition is subject to final TSX-V exchange approval.
On August 19,2022, Coloured Ties has acquired another 46 mineral claims adjacent to the previous 62 claims from the same Vendor Group.
The current claim block provides for a sizeable lithium exploration target and the Company will seek to monetize including a joint venture or option with lithium exploration companies going forward. The current claim block is surrounded by other public companies focusing on early-stage lithium exploration and substantial exploration dollars are being expending by these companies.
The lithium claims have been acquired with 100% interest to Coloured Ties for cash consideration subject to a 2% NSR that can be reduced to 1% with $1M payout at any time in the future.
No work commitments, other than as required by Ministère de l’Énergie et des Resources naturelles to keep the claims current are required and this will allow the Company to await results from surrounding properties before mobilizing and expending resources to this project.
The Company will continue to monitor exploration activity and results obtained in adjoining projects and develop an exploration plan within the area. As per initial plan, Coloured Ties is compiling a detailed geological data of the area. The adjoining property is owned by Winsome Resources, who have provided early technical summary of the area, which will be considered in understanding of prospects of the claims acquired by the Company. Winsome News Release regarding Mazerac Area can be found here: https://wcsecure.weblink.com.au/pdf/WR1/02480499.pdf.
Map of lithium claims and surrounding projects:
Map of lithium claims and surrounding projects
To view an enhanced version of this map, please visit:
Investment into Icanic Brands
Coloured Ties is pleased to report that the Company has subscribed to $100,000 CAD of unsecured convertible debentures of the Icanic Brands Corporation (the “Debenture”), at a price of $1,000 per Debenture, having an aggregate principal amount set forth below (the “Principal Amount”) and bearing interest at 11.0% per annum, maturing 24 months from the date of issuance. The Principal Amount may be convertible, at the option of the holder, in whole or in part, at any time following the issue date but on or before maturity, into units of the Corporation (the “Units”) at $0.10 per Unit, all upon and subject to the terms and conditions set forth in Schedule “A” attached hereto. Each Unit consists of one common share of the Corporation (a “Share”) and one Share purchase warrant (each Share purchase warrant, a “Warrant”). Each Warrant entitles the holder to purchase one additional Share (a “Warrant Share”) at a price of $0.15 per Warrant Share for a period of 24 months from the date of the conversion.
Icanic Brands Company is a leading cannabis branded products manufacturer based in California & Nevada, the largest and most competitive cannabis markets in the world. The company’s mission is to make cannabis safe and approachable – that starts with manufacturing high-quality products delivering consistent experiences.
Some of the Company brands are detailed here. https://www.icaninc.com/our-brands-1. Coloured Ties announces that, further to its news release dated May 12, 2022 and August 11, 2022, it has entered into a amended and restated royalty purchase agreement (the “Amended and Restated Agreement”) with BullRun Capital Inc. (“BullRun”) pursuant to which it will 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 replaces the previously announced royalty purchase agreement.
As consideration for the NSR Royalty the Company will pay BullRun cash consideration in an amount equal to the lower of (i) the amount of a formal valuation prepared by an independent valuator of the Royalty, and (ii) USD$2,500,000. The Company has formally engaged an independent valuator and anticipates receiving a formal valuation on the NSR Royalty by August 31, 2022.
The NSR Royalty is subject to a right of first refusal (the “ROFR”) held by a wholly-owned subsidiary of Revival which has sixty (60) days to elect by written notice to BullRun to purchase the NSR Royalty on the same terms and conditions as set forth in the Amended and Restated Agreement. In the event Revival does not exercise the ROFR, BullRun is free to sell the NSR Royalty in accordance with the terms and conditions specified in the Amended and Restated Agreement.
Kal Malhi, a director and the Chief Executive Officer of the Company, is the sole shareholder and director of BullRun. The Acquisition is therefore considered a “related party transaction” for the purposes of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101“) and TSX Venture Exchange (“TSXV“) Policy 5.9. The Acquisition is exempt from the formal valuation requirement of MI 61-101 pursuant to section 5.5(b) as the Company’s common shares are not listed on a “Specified Market” as set forth in MI 61-101. However, as the value of the consideration to be received by BullRun exceeds 25% of the Company’s market capitalization, disinterested shareholder approval will be required for the Acquisition.
Accordingly, the Company will seek the approval of the Acquisition by a majority of the votes cast by disinterested shareholders at the Company’s annual general and special meeting to be held on September 23, 2022 (the “AGSM“). Additional details of the Acquisition, as required by MI 61-101, will be described in the Company’s information circular to be filed and mailed to shareholders in connection with the AGSM.
Patriot Battery Metals Inc.
Coloured Ties has acquired a total of 1,708,900 common shares of Patriot Battery Metals (PMET) via purchases thru the Canadian Securities Exchange from December to July 15, 2022, at an average cost of $1.40 per share.
Patriot Battery Metals has achieved early drilling success at their Corvette Lithium property in Quebec and the company’s stock price has seen appreciation to a high $4.88 as of July 18,2022.
For more information about PMET, please visit: www.patriotbatterymetals.com
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.
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 information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.
The forward-looking statements contained in this news release present the expectations of the Company as of the date hereof and, accordingly, is subject to change after such date. Readers are cautioned not to place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134377
Nagad’s Digital Bank on cards, Sadaf to lead the side
Nagad, Bangladesh’s leading Mobile Financial Service (MFS) provider, is gearing up to establish the much-anticipated digital bank, as it is going to secure a licence from the Bangladesh Bank within a couple of months.
Sadaf Roksana, a co-founder and executive director of Nagad Ltd., has been entrusted with the responsibility of leading her company’s transformative venture that will bring greater convenience to the lives of millions of Bangladeshis, reducing their reliance on traditional brick-and-mortar banks.
The MFS provider earlier applied to secure a digital bank licence following the central bank’s call for applications through its website. The Bangladesh Bank also formulated necessary guidelines to widen and accelerate financial inclusion, which will also create jobs for young IT workers.
The world’s fastest mobile money carrier is going to venture into the digital banking era at a time when the financial landscape across the globe is fast evolving towards digitalisation, driven by technological advancements and changing consumer preferences.
Taking on the new assignment, Sadaf, a seasoned financial executive with a remarkable track record in the fintech industry, is poised to steer Nagad’s digital bank towards success. Once Nagad gets the digital bank licence, it will provide its consumers with innovative and convenient banking solutions.
“We are very excited that we are going to introduce digital banking services to the people of Bangladesh within a couple of months,” Sadaf said, adding, “This endeavour aligns perfectly with our vision of enhancing financial inclusion and ensuring easy access to all financial services also at affordable prices.”
Nagad is already well-equipped to launch a digital bank. It will start serving customers soon after getting the licence, Sadaf assured.
Under its digital banking platform, Nagad will introduce many new services, such as single-digit and collateral-free loans for small informal businesses and farmers who now are to take loans from moneylenders even at 40% interest rate per day, she pointed out.
“Thus, we will encourage them to come under financial inclusion, thus putting their money into the formal channel,” she expressed her optimism.
To assess one’s creditworthiness, Nagad has created an AI-based credit rating system that will analyse all transactions-related data available on public domains using one’s NID and mobile number, Sadaf Roksana added.
As Nagad goes ahead with its plans, all eyes will be on Sadaf Roksana and her team as they will embark on this exciting journey towards a more digitised and inclusive financial future for the country.
SOURCE Nagad Limited
Newly inaugurated Yashobhoomi (IICC Dwarka) to host Trescon’s DATE 2023 with Finance Minister Smt. Nirmala Sitharaman amongst the dignitaries
Excitement surrounds Trescon’s Digital Acceleration & Transformation Expo (DATE) as the Honorable Finance Minister Smt. Nirmala Sitharaman confirms to speak at the event and highlight India’s financial innovation and FinTech revolution. The inaugural expo, scheduled for 23-24 November 2023 at the newly inaugurated Yashobhoomi (IICC Dwarka) in New Delhi, is set to be a grand spectacle, representing India’s enthusiastic stride towards its technological dreams, inspired by Prime Minister Narendra Modi.
DATE’s vision is not just to gaze into the future but to actively shape it, offering a rare confluence for government, enterprises, tech companies including startups and discerning global investors. With a dynamic setup featuring five main themes, three conference tracks for in-depth discussions, and multiple exhibition zones for tech showcase, DATE offers a glimpse into both current and future tech trends.
“Technology is shaping our world and enabling better governance in India. Hosting the inaugural DATE 2023 in India is a testament to our digitization efforts and reflects our commitment to national advancements and ambitions under our leader Shri Narendra Modi,” said Shri Tejasvi Surya, Honorable Member of Parliament and an advisory board member of DATE.
Shri Yaduveer Krishnadatta Chamaraja Wadiyar, Chairperson of Cyberverse, a Strategic Partner of DATE 2023, said, “DATE isn’t just an event; it’s the essence of India’s tech aspirations and its journey towards a brighter, digital future. With our Finance Minister joining the line-up of dignitaries and speakers, the event is well poised to bring the FinTech community together and augment our overall digital ecosystem.”
“DATE is our commitment to catalyze India’s digital evolution, bringing together innovation, expertise, and limitless possibilities,” said Mohammed Saleem, Founder & Chairman of Trescon. “This event is the essence of India’s tech aspirations and its journey towards a brighter, digital future,” he added.
Naveen Bharadwaj, Group CEO of Trescon, the organiser of DATE added, “We are honored to welcome Hon’ble Minister Smt Nirmala Sitharaman at DATE 2023 and eager to learn about some of the impactful initiatives being led by her as we mobilise the key tech community, showcasing cutting edge technologies, introducing startups to global investors and fueling India’s entrepreneurial spirit.”
Entrepreneurs continue to be drawn to India, aiming to revolutionize the narrative of digital transformation. Segments including esports, cybersecurity, robotics, augmented and virtual reality, the metaverse, and more are witnessing a continual upward trend as startups enter the markets and redefine the digital landscape.
DATE 2023’s objective is beyond mere envisioning; it’s about realization. Boasting over 100 global speakers and 3,000 participants, DATE 2023 promises enlightening insights into the latest tech trends, opportunities, challenges, and practical success stories. It aims to be the place-to-be for top decision-makers, tech leaders, CIOs, CTOs, and other experts from various sectors across India.
To further enhance India’s digital transformation journey, the Software Technology Parks of India (STPI)’s support serves as a key driver that will accelerate India’s digital transformation journey. Their association with DATE underscores the shared commitment towards building a robust innovation ecosystem.
In addition to STPI, DATE 2023 is proud to welcome Innovation Mission of Punjab, Goa Technology Association, Data Security Council of India (DSCI), Gujarat Electronics and Software Industries Association (GESIA), and Federation of IT Associations of Gujarati (FITAG) as valuable association partners. Their collaboration fortifies DATE’s mission to foster digital innovation and transformation in India.
For more info or to register for DATE, please visit www.datewithtech.com.
TONIK NAMED BEST CUSTOMER SERVICE DIGITAL BANK
Tonik Digital Bank is proud to announce its recognition as the Philippines’ Best Customer Service for 2023, cementing its status as the number one digital bank for customer service in the country.
Tonik thanks its radically different approach from the get-go, as customer service is not just an aspect of their operations, it is their very essence incorporated in every level of the organization.
“Tonik is proud to be recognized for our customer service by none other than our consumers,” says Mila Bedrenets, Chief Growth Hacker of Tonik Digital Bank. “This award is important for us, as this validates the dedication and passion that we have poured into providing the best banking experience to all our customers.”
The recognition comes from an independent survey launched by Statista, a globally established company publishing brand top lists in cooperation with high-profile media partners. For the Philippines, Statista partnered with Philippine Daily Inquirer, the nation’s leading broadsheet.
Statista surveyed a vast sample of 11,000 Filipino customers who have either made purchases, used services, or gathered information about products or services in the past three years.
BANKING ON THE VOICE OF CUSTOMERS
Tonik stands out from other banking institutions in such a way that customer service is a collaborative effort across all its teams.
From its agents up to members of its senior management, the bank integrates agility and care in listening to customer feedback to further enhance its app, making sure that every interaction leads to a better overall banking experience.
Bedrenets mentions that at this day and age of social media, identifying customer pain points are simple, and that it is just a matter of learning to listen and act on them quickly to address and resolve any concerns.
“I am [literally] sending screenshots of customer complaints to fellow top managers daily, just so everyone is duly aware of customer pain points,” Bedrenets said. “Once the specific complaint is addressed, we also make sure that the same issue will not be experienced by other customers.”
Tonik also utilizes the fastest possible flow of communication across all its teams to address customer issues and concerns and employs tools to effectively alleviate customer pain points.
“The ‘Voice of Customer’ unit is not a side structure for us, nor is it buried in a deeper level of our organization. We make sure that is very much present in our management committee front and center, as we understand that the more you care about customer experience, the less you will need to care about good sales performance,” Bedrenets added.
The Bangko Sentral ng Pilipinas (BSP)-licensed digital bank also goes the extra mile by proactively informing its customers of both internal and external service improvements, changes, as well as scheduled downtimes, which may affect their app experience. This transparent communication ensures that customers are informed and updated, fostering trust and reliability.
As they continue to revolutionize the digital banking landscape in the Philippines, Tonik Digital Bank invites customers to experience banking that is truly centered around their needs, values, and aspirations.
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