CBLT Updates on Omni’s Progress at Northshore Gold
As previously announced on August 19, 2020, CBLT Inc. (TSXV: CBLT) (“CBLT“) closed the sale of its majority interest in the Northshore Gold Property Joint Venture (the “Property“) to Omni Commerce Corp. (“Omni“). CBLT was paid $350,000 in cash and $1,100,000 in common shares of Omni, which shares are subject to a regulatory four month hold and a voluntary escrow agreement providing for staggered releases over the next year. The first release from escrow of 25% of CBLT’s holdings will take place on or about December 20, 2020.
