CBLT Extends LOI to Sell Northshore GOLD
CBLT: TSX-V
CBLT EXTENDS LOI TO SELL NORTHSHORE GOLD
Burlington, ON. May 20, 2020. On April 27, 2020 CBLT Inc. (TSXV: CBLT) (“CBLT“) announced it had
entered into a letter of intent dated April 24, 2020 (the “LOI") with Omni Commerce Corp. ("Omni"), an
unlisted reporting issuer in good standing , pursuant to which Omni would acquire CBLT’s 56% joint
venture interest in the Northshore Gold Property (the “Property”).
CBLT now announces that it and Omni have agreed to extend the deadline for entry into a definitive
agreement with CBLT with respect to Omni’s acquisition of CBLT’s interest in the Property to May 29,
2020. This extension is necessary due to minor delays in the transaction process being caused by the impact
of COVID-19 and physical distancing.
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", "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.
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: closing on the Transaction as described above in a timely manner; COVID-19; reliance
on key personnel; shareholder and regulatory approvals; First Nations; risks of future legal proceedings; income tax
matters; availability and terms of financing; distribution of securities; commodities pricing; effect of market interest
rates on price of securities; and, potential dilution.