Business Wire | Nov 11, 2021 12:52PM EST

CORRECTING and REPLACING CIBL, INC. Announces Board Authorization to Repurchase 1,500 of its Common Shares, or Approximately 10% of the Outstanding Shares

Nov. 11, 2021

RENO, Nev.--(BUSINESS WIRE)--Nov. 11, 2021--Second paragraph, second sentence of release dated November 4, 2021 should read: ...the remaining 6,601 repurchased shares were acquired through open market and private transactions. (instead of ...the remaining 2,412 repurchased shares were acquired through open market and private transactions.)

The updated release reads:

CIBL, INC. ANNOUNCES BOARD AUTHORIZATION TO REPURCHASE 1,500 OF ITS COMMON SHARES, OR APPROXIMATELY 10% OF THE OUTSTANDING SHARES

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 1,500 of its common shares.

Since its spin-off from LICT Corporation in November 2007, CIBL has repurchased 11,347 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 6,601 repurchased shares were acquired through open market and private transactions.

The Company now has 14,769 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(r) under the symbol CIBY. CIBL's telephone number is (775) 329-8555.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211104006306/en/

CONTACT: Stephen J. Moore Chief Financial Officer (775) 329-8555 office@ciblinc.com