An Update for Columbus Networks’ Shareholders
Kelowna – The Board of Directors has been working hard to rectify a number of unresolved issues. The amount of work that has had to be done has resulted in the delay of more frequent announcements.
Two items that have been holding the company back are resolution of issues with the financials and outstanding shares.
First, the Board has had to have the financials from 2000 to present reviewed by a third party to ensure Columbus is able to fulfill is responsibilities to Revenue Canada and its shareholders. As a result of the review, we have succeeded in meeting the demands of Revenue Canada and completed the filing of all tax returns from 2000. The next step is to prepare the financial statements for filing with the proper regulatory bodies. Once this is completed the current and correct financial statements of the last 4 years will be made available to our shareholders. This activity is well underway.
The second challenge facing the Board was to recover the over 24,000,000 illegitimate shares issued to the lead proponent of the Alberta mining group (Legacy West Ventures Corporation). (Note: The illegitimate shares were issued prior to the election of the current Board of Directors.) The Transfer Company has recovered and cancelled these shares and the process of converting all shares back to Columbus Network Corporation is nearing completion.
As a result of resolving the above, there will be no Legacy West shares outstanding or being issued. If you have or know of someone who has Legacy West shares, please contact your broker and request the Legacy West shares be converted to Columbus Networks Corporation (CSNW) shares.
The Board’s goal is to put Columbus on a path where shareholders can realize Columbus’ appreciating value. The resolution of these two issues will allow Columbus’ Board and management to move forward on this goal.
If you have any questions about this update or any other news from Columbus Networks don’t hesitate to contact us at firstname.lastname@example.org or call (250) 869-1612.
About Columbus Networks
Columbus Networks offers web-based applications to facilitate recruitment in the education sector using technology and the Internet to create extremely cost-effective, timely and easy-to-use recruitment solutions for both employers and employees. For the educational employer seeking to fill employment vacancies in teaching, administration and support staff positions, Columbus Networks offers a more sophisticated e-recruitment tool. Our clients are educational employers who include public schools and districts, private schools and institutions, colleges, universities and community colleges, across the continent and growing worldwide. Columbus Networks is headquartered in Kelowna, British Columbia, Canada. For additional information on Columbus Networks or their services visit http://www.columbusnetworks.com or call (250) 869-1612.
No Stock Exchange or Regulatory Authority has either approved or disapproved of this News Release.
This press release may contain forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward looking statements involve risks and uncertainties, including without limitation continued acceptance of the Company's products, subscriber growth, product demand, competition, and other risks and uncertainties detailed from time to time in the Company's period reports.
Phone: (250) 869-1612