Reno, NV – March 3, 2017 – CIBL, Inc. (“CIBL” or the “Company”; OTC Pink ®: CIBY) announces that at December 31, 2016, CIBL held $22.3 million in liquid assets or $1,327 per share, based on the 16,834 shares outstanding at that date, 166,556 shares of ICTC valued at $6.7 million pre-tax, or $396 per CIBL share, and 10,000 shares of Solix Inc., a private outsourcing firm that provides, among other services, billing and collection for the telecommunications industry.
ICTC Group Inc. – The company owns 166,556 common shares of ICTC Group, Inc. (“ICTC”; OTC Pink ®: ICTG), or 43.6% of the shares outstanding, and has voting control (55.7% of total votes) through a voting rights agreement with our Chairman. CIBL’s total investment in the ICTC’s shares owned is $3.8 million. Based on the last trading price of these shares, the total pre-tax marked to market value is $6.7 million, or $396 per share of CIBL outstanding. Information on ICTC can be obtained on its website, www.ictcgroup.net.
Share Repurchases – During the year ended December 31, 2016, the Company acquired 891 of its shares at an average price of $1,273 per share. We now have 16,834 shares outstanding. Since its spin-off from LICT Corporation in 2007, CIBL has repurchased 8,281 of its shares for a total of $9.4 million, or an average price of $1,134 per share.
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To the extent this release contains 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, it should be recognized that such information is based upon 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. Thus, such information is subject to uncertainties, risks and inaccuracies, which could be material, and there can be no assurance that such information will prove to be accurate.
CIBL is a holding company with interests in telecommunications operations. CIBL is listed on OTC Pink® under the symbol CIBY and information can be obtained on our website: www.ciblinc.com.
Contact: Robert E. Dolan