Business
CBLT Investee Ciscom Has Filed Its Preliminary Prospectus
Burlington, Ontario--(Newsfile Corp. - May 9, 2022) - CBLT Inc. (TSXV: CBLT) ("CBLT") is very ...
About this update from Cblt Inc
[{"type":"text","content":"CBLT Investee Ciscom Has Filed Its Preliminary ProspectusBurlington, Ontario--(Newsfile Corp. - May 9, 2022) - CBLT Inc. (TSXV: CBLT) (\"CBLT\") is very pleased to report that its investee Ciscom Corp. (\"Ciscom\") has received a receipt from the Ontario Securities Commission for its preliminary prospectus (the \"Prospectus\"). The Prospectus can be found at Ciscom's Sedar page: Ciscom Corp. Profile (sedar.com).\"We have been working with Ciscom for roughly 18 months, helping the team get ready for this event,\" said CBLT CEO, Peter M. Clausi. \"Next up will be assisting with listing on the Canadian Securities Exchange, governance and capital markets.\"CBLT owns 4,215,116 common shares of Ciscom, or roughly 10.5% of Ciscom's outstanding shares. As described in CBLT's press release of November 10, 2021, CBLT has declared a dividend of some of those shares back to its shareholder base, the timing of the payment of such dividend to be at the discretion of CBLT's board.A summary of Ciscom can be taken directly from page 12 of the Prospectus:The Company's principal business is investing in and acquiring companies operating in the Information, Communications and Technology sector and playing an active role in the management of these companies to mitigate risk and maximize growth. The Company defines itself as an enabling business accelerator. Through ownership of Common Shares, the general public has an opportunity to participate in the financial growth of the investments and acquisitions made by the Ciscom in these companies.Ciscom targets companies in the following areas: 1. The ICT sector; and 2. Organizations using technology as a way to process data, incorporate external databases, documents and information to deliver the products and services (big data applications).In addition to its investment and acquisition activities, the Company's business mandate includes the negotiating strategic joint ventures and the identification of the implementation of synergies through shared services.The business of the Company includes the management of its investments and acquisitions to improve long‐ term performance. The Company invests and acquires small to medium size enterprises/businesses (\"SME\") with growth potential and is paying moderate acquisition prices, based on proven profitability track records, which lowers risks and sh...