CIBL, Inc. Reports Acquisition of Brick Skirt, Inc.

Rhea-AI Summary

CIBL to acquire 20% of Brick Skirt Holdings from LICT Corporation, enhancing their business relationship. CIBL continues to evaluate strategic alternatives for shareholder value.

RENO, Nev.--(BUSINESS WIRE)-- CIBL, Inc. (“CIBL”; OTC Pink^®: CIBY) announced, subject to regulatory approval, it will acquire 20% of Brick Skirt Holdings, Inc. (“Brick Skirt”) from LICT Corporation (“LICT”). Brick Skirt, a former subsidiary of LICT known as DFT Communications, was sold in 2014, offers local and long-distance telephone service, business telephone systems, internet service, security systems, wireless communications and call center services to areas in Western New York and portions of Pennsylvania. As part of LICT’s sale of Brick Skirt in 2014 it retained and subsequently exercised their right to acquire their present 20% minority interest. CIBL was spun off from LICT Corporation in 2007. CIBL’s New Hampshire Operations has utilized Brick Skirt’s support services for certain administrative functions for the past ten years. CIBL and Brick Skirt look forward to continuing and enhancing their business relationship as part of this acquisition.

CIBL’s Board of Directors continues to evaluate a broad range of strategic alternatives for the company to create shareholder value. As noted above, it has the liquidity to effectuate transactions if we find them attractive and appropriate for our Company.

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 broadband operations. CIBL is listed on OTC Pink^® under the symbol CIBY and information can be obtained on our website: www.ciblinc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230926791753/en/

Kenneth D. Masiello

Chief Financial Officer

(775) 664-3700

Source: CIBL, Inc.