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CBLT Declares Dividend and Provides Update on Shatford Lake (Lithium)
Burlington, Ontario--(Newsfile Corp. - November 10, 2021) - CBLT Inc. (TSXV: CBLT) ("CBLT") de...
About this update from Cblt Inc
[{"type":"text","content":"CBLT Declares Dividend and Provides Update on Shatford Lake (Lithium)Burlington, Ontario--(Newsfile Corp. - November 10, 2021) - CBLT Inc. (TSXV: CBLT) (\"CBLT\") declares a dividend and provides an update on its exploration program at Shatford Lake. \"Good things are happening at CBLT,\" said Peter M. Clausi, CBLT's CEO. \"Results from the samples taken from pegmatites are imminent and our shareholders are catching a dividend. We're expecting a strong finish to the year.\"DividendCBLT owns roughly 4,200,000 common shares of Ciscom Corp. or roughly 12% of the Ciscom shares outstanding. Ciscom is an Ontario company carrying out private equity acquisitions. Ciscom has closed on its first acquisition, the terms of which are not yet publicly available. To allow CBLT's shareholders to directly participate in Ciscom's potential success, CBLT's board has declared a dividend of some of the Ciscom shares to CBLT shareholders, with a record date of November 17, 2021. CBLT will retain the remainder of the Ciscom shares as an investment.For every CBLT share held, each CBLT shareholder will receive 0.011815 Ciscom share, which means for every 84.64119222 CBLT shares held, each CBLT shareholder will receive one Ciscom share. Fractional dividends will not be paid.CBLT's board of directors has the discretion to fix the payment date for the dividend. The current intention is that it be paid in Q12022, but that is not a definitive period. A future announcement will be made to fix the payment date.\"We will be able to make financial disclosure on Ciscom and its acquisitions as Ciscom goes through the process of becoming a reporting issuer,\" said Clausi. \"Forest fires in Manitoba and Ontario prevented us from extensive exploration this year, but we've always said you can make money for the shareholders with the drillbit and with the pen. Since we were denied the drillbit, we worked hard with the pen.\"Anyone interested in learning more about Ciscom is encouraged to contact Ciscom's President and CEO Peter MacDonald at 1 (416) 366-9727 or by email at [email protected] LakeIn June, 2021 CBLT began a field program at Shatford Lake, Manitoba, which management believes to be highly prospective for lithium. Given its proximity to the Tanco Mine and its location in the Bird River Pegmatite Field, Manitoba, management believes Shatford Lake is...