Vancouver, British Columbia--(Newsfile Corp. - November 14, 2022) - Coloured Ties Capital Inc. (TSXV: TIE) ("CTI" or the "Company") applauds recently announced US and Canadian based government grant programs to fund critical mineral projects across North America.
In Canada, the federal government is restricting the involvement of foreign state-owned companies in Canada's critical minerals sector amid a global rush for the resources and growing tensions with China. https://www.cbc.ca/news/politics/ottawa-critical-minerals-plan-1.6634386
In the US, President Joe Biden has invoked the 1950 Defense Production Act to expand the domestic mining sector, and the military received hundreds of millions of dollars to implement it. The United States military has been quietly soliciting applications for Canadian mining projects that want American public funding through a major national security initiative.
https://www.cbc.ca/news/world/u-s-military-mining-projects-canada-1.6649522
Coloured Ties Capital has begun a search to engage consultants to help its investee companies, and others at incubation stage to submit applications under these programs. Coloured Ties current critical mineral investment portfolio includes the following holdings as of November 11, 2022.
Patriot Battery Metals Inc 1,964,200 common shares
Hertz Lithium Inc (private company conducting an IPO on the CSE) 3,200,000 common shares
Graphite One Incorporated 135,000 common shares
Quebec Pegmatite Corporation (private company) 10,000,0000 common shares out of 11,000,000 common shares of Quebec Pegmatite Corporation that are outstanding. Quebec Pegmatite is considering various "go public" transactions.
Coloured Ties is also conducting due diligence on other critical mineral investment opportunities.
Coloured Ties is pleased to announce that it has granted an aggregate of 1,365,000 restricted share units (the "RSUs") to certain directors, officers, employees and consultants of the Company pursuant to the Company's fixed restricted share unit plan dated for reference July 1, 2019, as amended on April 24, 2020 and as further amended on August 18, 2022 (the "Plan"). The Plan was approved by the shareholders of the Company on September 23, 2022. The RSUs shall vest on October 19, 2023. The RSUs are subject to the terms of the Plan and applicable securities law hold periods.
Mr. Kal Malhi, CEO states: "Critical minerals are crucial inputs for renewable energy and clean technology applications, such as advanced batteries including electric vehicles and electronic devices, permanent magnets, solar panels, wind turbines, and small modular reactors, as well as advanced manufacturing applications, including defence and security technologies, semiconductors and consumer electronics, and critical infrastructure.
"Demand for minerals such as lithium, graphite, cobalt, tin and the finished products they go into is forecast to increase significantly in the coming decades to enable transition to a green and digital economy. This offers a GENERATIONAL INVESTMENT opportunity for investors to fund exploration and development of these mineral resources. With our healthy treasury and deep contacts in the North American mineral exploration sector, we are positioning Coloured Ties to be a front runner in a diversified portfolio of critical minerals investments and offers investors a solid avenue to invest in the critical minerals sector."
For further information please contact:
Coloured Ties Capital Inc.
Kal Malhi Chief Executive Officer
kal@bullruncapital.ca
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/144086
