Reno, NV- June 15, 2015 – CIBL, Inc. (OTC Markets: CIBY)(“CIBL” or the “Company”) is announcing that its Board of Directors has authorized the Company to repurchase up to an additional 2,000 of its common shares. Prior to this new authorization, the company’s share repurchase program had 1,936 shares remaining from prior authorizations. Thus, the Company is currently authorized to repurchase up to a total of 3,936 of its shares.
Since its spin-off from LICT Corporation in November 2007, CIBL has repurchased 7,158 of its shares, including through two “Modified Dutch Auctions” conducted in December 2012 and January 2014. A total of 4,746 share were repurchased through these auctions, and the remaining 2,412 repurchased shares were acquired through open market transactions. The Company now has 17,957 shares of its common stock outstanding.
This release contains certain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including without limitation anticipated corporate transactions. It should be recognized that such information is based upon certain assumptions, projections and forecasts, including without limitation business conditions and financial markets, and the cautionary statements set forth in documents filed by CIBL on its website, www.ciblinc.com. As a result, there can be no assurance that any possible transactions will be accomplished or be successful or that financial targets will be met, and such information is subject to uncertainties, risks and inaccuracies, which could be material.
CIBL is a holding company with subsidiaries in telecommunications. CIBL is listed on OTC Pink® under the symbol CIBY. CIBL’s telephone number is (775) 664-3700.
Contact: Robert E. Dolan
CIBL has retained LICT Corporation to provide it management services