CBLT Inc. (TSXV: CBLT) (‘CBLT’) owned 4,215,116 common shares of Ciscom Corporation (‘Ciscom’) as of March 31, 2023, of which 900,032 were allocated to be paid as dividends to CBLT’s shareholders.
The dividend has been declared and is intended to be paid immediately upon Syscom’s receipt of its final prospectus from the Ontario Securities Commission. There is a risk that Syscom may not receive such receipt in the near future or at all.
CBLT announced that it had sold all remaining 3,315,084 Ciscom shares for gross proceeds of $400,000 (four hundred thousand dollars). CBLT has received payment in this amount. The Company realized a financial gain in the amount of $399,994 from the sale of these shares.
It was the right decision given the general uncertainty in the junior market,’ said Peter M., CEO of CBLT. Clausy said.
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This news release contains certain statements that constitute forward-looking statements as they relate to CBLT and its management. Forward-looking statements are not historical facts but represent management’s current expectations of future events, and may be identified by words such as ‘believe’, ‘expect’, ‘will’, ‘intend’, ‘plans’, ‘projects’, ‘ presumes’, ‘guess’, ‘should’, ‘continues’ and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be accurate or will be realized.
By their nature, forward-looking statements contain assumptions and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set forth in this new release, CBLT will also set forth the material risk factors or assumptions used in developing the forward-looking statements. Except as expressly required by applicable securities laws, CBLT assumes no obligation to update or revise any forward-looking statements. Future results that relate to forward-looking statements may be affected by a number of factors, including but not limited to; SARS-CoV-2; reliance on key personnel; performance of the Syscom Corporation leadership team; shareholder and regulatory approvals; First Nations and other Indigenous communities; regional risk; risk of future legal proceedings; Income Tax Matters; availability and financing terms; distribution of securities; pricing of goods; environmental problems; forest fires and other natural phenomena; rising costs related to inflation; the effect of market interest on the value of securities; Failure to identify economically viable mineral reserves and potential vulnerabilities.
CBLT’s operations could be significantly adversely affected by the impact of a widespread global outbreak of an infectious disease, including the recent outbreak of disease caused by COVID-19. It is not possible to accurately predict the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and other uncertainties, including actions and the impact of COVID-19 on the ability of others to meet their obligations. and the length of travel and quarantine restrictions imposed by the governments of affected countries. In addition, a significant outbreak of infectious diseases in the human population could cause a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and its ability to finance operations. .
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