CBLT Declares Dividend and Provides Update on Shatford Lake (Lithium)
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."
Dividend
CBLT 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
.
Shatford Lake
In 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 also prospective for tantalum,
beryllium, cesium and rubidium.
It has been estimated that Tanco's lithium reserves are 7.3 million tonnes at 2.76% Li2O (
GSWA Mining
Bulletin No. 22
, page 66). This is a historical third party estimate from 1991 and CBLT has no
information as to the methodology used to calculate this estimate or whether it was carried out under the
supervision of a Qualified Person, as that term is defined in
NI43-101
. Readers are cautioned not to rely
upon this estimate. CBLT references this to inform its knowledge of the area and to support its thesis for
exploration at Shatford Lake.
CBLT's program entails surface mapping and taking samples from the pegmatite. The first batch of
samples has been sent to an accredited lab for analysis. Results are expected shortly.
The field program is expected to continue with further sampling and mapping.
CONTACT INFORMATION
Peter M. Clausi
CEO and Director
1 416 890 1232
@ClausiPeter
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
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 expectation of future events, and can be identified by words such as "believe",
"expects", "will", "intends", "plans", "projects", "anticipates", "estimates", "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 correct or will
come to pass.
By their nature, forward-looking statements include 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 out in this new
release, CBLT will also set out the material risk factors or assumptions used to develop the forward-
looking statements. Except as expressly required by applicable securities laws, CBLT assumes no
obligation to update or revise any forward-looking statements. The future outcomes that relate to
forward-looking statements may be influenced by many factors, including but not limited to; SARS-CoV-
2; reliance on key personnel; the performance of the Ciscom Corp. leadership team; shareholder and
regulatory approvals; First Nations and other local communities; jurisdictional risk; risks of future legal
proceedings; income tax matters; availability and terms of financing; distribution of securities;
commodities pricing; environmental issues; forest fires and other natural phenomena; rising costs
related to inflation; effect of market interest on price of securities; failing to identify an economically
viable mineral deposit; and, potential dilution.
CBLT's operations could be significantly adversely affected by the effects of a widespread global
outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not
possible to accurately predict the impact COVID-19 will have on operations and the ability of others to
meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the
severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions
imposed by governments of affected countries. In addition, a significant outbreak of contagious
diseases in the human population could result in 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 the ability to finance its operations.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/102761