The Debt Settlement constitutes a 'related party transaction' as defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ('MI 61-101') as Coloured Ties is a control person of QPC. QPC is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(e) of MI 61-101, as QPC is in financial difficulty and the transaction is designed to improve the financial position of the Company, as determined in accordance with MI 61-101. Coloured Ties is relying on the exemptions from valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(a) of MI 61-101, as the Debt Settlement does not exceed 25% of Coloured Ties' market capitalization.
The Debt Settlement was approved by the members of the board of directors of QPC who are independent for the purposes of the Debt Settlement, being all directors other than Mr.
About
ABOUT
Coloured Ties is a publicly traded Canadian-based venture capital firm focused on early-stage investments in companies in the junior resources and break-through and disruptive technologies. Coloured Ties investment strategy is to invest early in multiple private and public companies across a variety of sectors that merit investments to advance promising ventures globally. Coloured Ties invests early stage, in promising projects where it can be the Founding or Early-Stage investor and can additionally provide investees with advisory services and access to the Company's ecosystem.
Neither the
ON BEHALF OF
CEO and Director
E: mike@quebecpegmatite.com
Chief Executive Officer
E: kal@bullruncapital.ca
Ph: 604-805-4602
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