Ciscom Corp. Untangles Shareholder Dispute, Offers Business Update

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Ciscom Corp. Clarifies Shareholdings and Provides Business Updates

Ciscom Corp.(“Ciscom” or “the Company”) today issued an update regarding recent developments concerning share ownership and the company’s overall business activities.

In March 2024, Ciscom raised concerns with the Ontario Securities Commission (OSC) regarding the legitimacy of DLT Resolution Inc.’s (“DLT”) claim of share ownership in Ciscom. The Company questioned the accuracy of DLT’s public filings and their compliance with regulations. Ciscom also explored activating its Shareholders’ Rights Plan to protect shareholder interests.

On May 3, 2024, DLT announced it had unwound previous share exchange transactions with certain Ciscom shareholders. This action, according to DLT, eliminated their ownership and control of Ciscom shares. However, on May 7, 2024, Ciscom informed the OSC that their records indicated DLT still held some shares, with additional transfers occurring on the same day as DLT’s press release. Ciscom further expressed concerns about the accuracy of DLT’s filings with the System for Electronic Disclosure by Insiders (SEDI).

Despite the share ownership dispute, Ciscom remains committed to its core business objectives. As stated by CEO Paul Gaynor, “Ciscom continues to move forward.” The Company’s focus remains on fulfilling its corporate mandate – successfully investing in, acquiring, and managing companies within the Information and Communication Technology (ICT) sector.

While this update clarifies the current situation regarding the share ownership dispute, it’s important for investors to stay informed. Ciscom encourages shareholders and stakeholders to follow official company releases for the most accurate and up-to-date information.