Kal Malhi and Coloured Ties Capital Inc. Commence Defamation Claim Against Labrador Gold Corp., James R. Borland, Leonidas Karabelas, Roger Moss and Trevor Boyd

Executive Summary

• Coloured Ties Capital Inc. and shareholder Kal Malhi have filed a defamation lawsuit in the Ontario Superior Court of Justice against Labrador Gold Corp. and five of its directors, alleging false statements and misleading imagery in a February 2, 2026 shareholder letter.
• The plaintiffs seek an injunction to stop further publication of the disputed material and are pursuing general, special, aggravated, and punitive damages.
• The claim centers on accusations that the letter portrayed the plaintiffs as thieves and threatened shareholder property, potentially impacting Labrador Gold’s reputation and proxy voting process.

Key Details

• Plaintiffs: Coloured Ties Capital Inc. (TSXV: TIE) and Kal Malhi (major shareholder).
• Defendants: Labrador Gold Corp., James R. Borland, Leonidas Karabelas, Roger Moss, Trevor Boyd (directors/officers of Labrador).
• Alleged Misconduct: Publication of a shareholder letter titled “The Dissident's Motives Exposed: A Message From Your Board of Directors at Labrador Gold” on 2 Feb 2026 that included the headline “MALHICIOUS INTENT” and an illustration depicting Kal Malhi removing cash from a vault.
• Legal Relief Sought:
• Injunctive relief to prevent further dissemination or republishing of the alleged defamatory content.
• Monetary damages – general, special, aggravated, and punitive – to be determined at trial.
• Purpose of Letter (as claimed): To urge shareholders to vote in favor of management’s proxy and protect their investment from the plaintiffs.
• Impact Statement: Plaintiffs assert that the false statements have caused serious reputational harm and constitute reckless disregard for truth, potentially influencing shareholder voting outcomes and corporate governance at Labrador Gold.

Notable Quotes

“The case is about truth and accountability.” – Kal Malhi, CEO, Coloured Ties Capital Inc.

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