Coloured Ties Capital Requisitions a Shareholder Meeting of Labrador Gold Corp. to Bring the Company into Compliance with Corporate Legislation and Address Necessary Leadership Changes

Executive Summary

• Coloured Ties Capital Inc., together with shareholders holding >5% of Labrador Gold Corp., has requisitioned a special meeting of Labrador’s shareholders to address statutory non‑compliance and governance failures.
• The requisition seeks removal of incumbent directors (James Borland, Trevor Boyd, Roger Moss) and election of four new directors: Kulwant Malhi, Ronald Wortel, Jean Lafleur, and Tara Asfour.
• The meeting is demanded to be held no later than January 18, 2025 (note the typo in the release; likely intended 2026), aiming to restore compliance with Ontario corporate law and enable a new strategic plan for Labrador’s value creation.

Key Details

• Requisition Initiators: Kal Malhi and Rauni Malhi (“Concerned Shareholders”) – collectively own >5% of Labrador Gold Corp. common shares.
• Statutory Breaches Cited:
• Failure to hold an annual shareholders’ meeting by the September 27, 2025 deadline (last held June 27, 2024).
• Announcement on August 13, 2025 of a December 2, 2025 meeting that never materialized; no record date set, no proxy materials mailed.
• Requested Meeting Deadline: No later than January 18, 2025 (intended to be early 2026) to bring Labrador back into compliance.
• Board Changes Proposed:
• Removal of current directors: James Borland, Trevor Boyd, Roger Moss (and any newly appointed before the meeting).
• Election of four new directors: Kulwant “Kal” Malhi, Ronald Wortel, Jean Lafleur, Tara Asfour.
• Nominee Profiles:
• Kulwant Malhi – entrepreneur, venture capitalist; founder of BullRun Capital; extensive experience financing resource and tech ventures.
• Ronald Wortel – finance executive with 30+ years in mining equity research, due‑diligence, and flow‑through financing; current senior analyst at Zacks Small‑Cap Research.
• Jean Lafleur – professional geologist (45 years), former senior roles at Newmont, Falconbridge, etc.; now senior consultant for Appian Capital Advisory.
• Tara Asfour – capital markets executive; IR and fundraising specialist with $800 M+ of raised capital across resource & tech sectors.
• Purpose of the Meeting:
• Restore compliance with Ontario Business Corporations Act.
• Present a comprehensive plan to deploy Labrador’s cash reserves, pursue project acquisitions, and outline an economic path forward for shareholders.
• Legal Disclaimer: The release does not constitute a proxy solicitation; Coloured Ties currently has no intention to publicly solicit proxies or acquire additional shares before the meeting but reserves the right to reconsider.

Notable Quotes

(No direct quotes were provided in the release.)