Joseph Bassili - News Release under the Early Warning System
Montreal, Quebec--(Newsfile Corp. - August 16, 2013) - This news release is issued by Mr. Joseph Bassili ("Mr. Bassili") as required under Regulation 62-103 Respecting the Early Warning System and Related Take-Over Bid and Insider Reporting Issues (the "Regulation"). Mr. Bassili acquired control over 2,432,621 common shares ("Shares") of Colba.Net Telecom Inc. (the "Corporation"), representing approximately 7.27% of the total outstanding number of Shares of the Corporation. This transaction took place privately and for a nil consideration. Mr. Bassili now owns and controls 30,146,780 Shares of the Corporation, representing approximately 90.12% of the outstanding number of Shares of the Corporation. Mr. Bassili did not pursue any specific purpose in acquiring control over the Shares, as they were donated to him in the context of an estate planning.
Mr. Bassili holds his Shares for investment purposes only. Mr. Bassili does not intend to acquire additional securities of the Corporation in the near future. Mr. Bassili's address is 6465 Route Transcanadienne, Saint-Laurent, Quebec, H4T 1S3.
A copy of the report under Regulation 62-103 to be filed on SEDAR (www.sedar.com) will be available by contacting Mr. Bassili at (514) 856-3500.
- 30 -
For more information, please contact: