Vancouver, British Columbia--(Newsfile Corp. - July 19, 2023) - Coloured Ties Capital Inc. (TSXV: TIE) (OTC Pink: APEOF) (FSE: 97A0) ("Coloured Ties" or the "Company"), an investment company focused on business incubation and opportunities that disrupt their industry, announces that its auditor, Smythe LLP ("Smythe"), has resigned as auditor of the Company effective July 11, 2023.

The Company's board of directors has appointed Reliant CPA PC ("Reliant") as its successor auditor.

There were no reservations in Symthe's audit reports for any financial period during which Smythe was the Company's auditor. There are no "reportable events" (as the term is defined in National Instrument 51-102 - Continuous Disclosure Obligations) between the Company and Smythe.

In accordance with National Instrument 51-102, the Notice of Change of Auditor, together with the required letter from Smythe and Reliant, have been reviewed by the Company's board of directors and will be filed on SEDAR accordingly.

On behalf of the Board of Directors

"Kal Malhi"
CEO and Director
Email: kal@bullruncapital.ca

FORWARD-LOOKING STATEMENTS:

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

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