Cibt Education Group Inc (MBAIF) 0.2062 $MBAIF
CIBT Signs MOU to Purchase New Condo Project for Approximately $20M
Filing Services Canada - Mon Oct 05, 8:03AM CDT
CIBT Signs MOU to Purchase New Condo Project for Approximately $20M
MBA.TO: 0.32 (+0.01)
CIBT Launches Official Website for its Student Housing Subsidiary
Filing Services Canada - Tue Sep 22, 8:04AM CDT
CIBT Launches Official Website for its Student Housing Subsidiary
MBA.TO: 0.32 (+0.01)
CIBT Provides Update on the Acquisition of Second Downtown Vancouver Hotel
Filing Services Canada - Mon Sep 14, 8:00AM CDT
CIBT Provides Update on the Acquisition of Second Downtown Vancouver Hotel Vancouver, British Columbia (FSCwire) - CIBT Education Group Inc. (TSX: MBA, OTCQX International: MBAIF) (CIBT) is pleased to report that, pursuant to its news release on June 22nd 2015 regarding the acquisition of a second downtown Vancouver hotel, subjects have been removed and the parties are proceeding to final closing which is scheduled for November 1st 2015. Details of the transaction will be disclosed after the transaction has been completed. As a result of this transaction, CIBT expects to add approximately 270 beds to its portfolio of student accommodation in the Greater Vancouver area generating approximately $3.1 million in gross rental annual revenue. "In addition to GEC Viva Tower and two other previously announced properties that are under development and construction, this latest addition will raise the total GEC portfolio in excess of $130 million, not including the flagship GEC project "Education Super Center" which itself is budgeted for $200 million," commented by Toby Chu, President and CEO, Vice Chairman of CIBT. "We are pleased with the progress achieved in less than 18 months and continue to pursue our $1 billion portfolio target within the next 5 years." About CIBT Education Group: CIBT Education Group Inc. is an education management company focused on the global education market since 1994. Listed in Canada on the Toronto Stock Exchange and in the U.S. on the OTCQX International, CIBT owns and operates a network of business, technical and language colleges in North America and Asia. CIBT offers cooperative joint programs in 12 countries with campuses, recruitment offices and training centers enrolling over 7,000 students annually. Its education business is operated through Sprott Shaw College (established in 1903), Acsenda School of Management, CIBT School of Business China, and Global Education Alliance Recruitment Centers in China and other overseas countries. Through these subsidiaries, CIBT offers recognized and approved business and management degrees, programs in college preparation, healthcare, hotel management and tourism, English language training, English Teacher Certifications, junior and high school preparation programs for overseas study, and other career/vocational training. CIBT also owns Irix Design Group, a leading design and advertising company based in Vancouver, Canada, Global Education Alliance (GEA) and Global Education City Holdings Inc. (GEC). GEA recruits international students for many elite kindergarten, primary, secondary schools and universities in North America. GEC is an investment holding and management company with a special focus on education related real estate projects in Canada. Visit us online at www.cibt.net (http://www.cibt.net) and watch our corporate video at http://cibt.net/about/ (http://cibt.net/about/). For more information contact: Toby Chu Vice-Chairman, President & CEO CIBT Education Group Inc. Investor Relations Contact: 1-604-871-9909 extension 318 or | Email: info@cibt.net (mailto:info@cibt.net) FORWARD-LOOKING STATEMENTS: Some statements in this news release contain forward-looking information (the forward-looking statements) about CIBT Education Group Inc. and its future plans. Forward-looking statements are statements that are not historical facts. The forward-looking statements in this news release include, without limitation, the annual gross rental revenue that is expected to be received following the acquisition of the second downtown Vancouver hotel. The forward-looking statements are subject to various risks, uncertainties and other factors (collectively, the Risks) that could cause CIBT Groups actual results or achievements to differ materially from those expressed in or implied by forward-looking statements. The Risks include, without limitation, the completion of the acquisition of the hotel and the ability of CIBT Group to fully rent out the available rooms at the anticipated monthly rental rate. Forward-looking statements are based on the beliefs, opinions and expectations of CIBT Groups management at the time they are made, and CIBT Group does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances should change, except as may be required by law. To view this press release as a PDF file, click onto the following link: http://www.fscwire.com/sites/default/files/ne...142015.pdf Source: CIBT Education Group Inc. (TSX:MBA, OTCQX:MBAIF) www.cibt.net Maximum News Dissemination by FSCwire. http://www.fscwire.com Copyright(C)2015 Filing Services Canada Inc.
MBA.TO: 0.32 (+0.01)
CIBT Featured on CKNW Radio - The Lynda Steele Show
Filing Services Canada - Thu Sep 03, 4:00PM CDT
CIBT Featured on CKNW Radio The Lynda Steele Show Vancouver, British Columbia (FSCwire) - CIBT Education Group Inc. (TSX: MBA, OCTQX International: MBAIF) (CIBT) is pleased to report that Mr. Toby Chu, President and CEO of CIBT, was featured live on The Lynda Steele Show on CKNW AM980 radio on September 2nd at 3.10p.m to discuss the growing market of international students coming to Vancouver, and its economic impact on Canadas overall economy. Please visit the audio link at: www.cibt.net/cknw/ (http://www.cibt.net/cknw/) About CIBT Education Group: CIBT Education Group Inc. is an education management company focused on the global education market since 1994. Listed in Canada on the Toronto Stock Exchange and in the U.S. on the OTCQX International, CIBT owns and operates a network of business, technical and language colleges in North America and Asia. CIBT offers cooperative joint programs in 12 countries with campuses, recruitment offices and training centers enrolling over 7,000 students annually. Its education business is operated through Sprott Shaw College (established in 1903), Acsenda School of Management, CIBT School of Business China, and Global Education Alliance Recruitment Centers in China and other overseas countries. Through these subsidiaries, CIBT offers recognized and approved business and management degrees, programs in college preparation, healthcare, hotel management and tourism, English language training, English Teacher Certifications, junior and high school preparation programs for overseas study, and other career/vocational training. CIBT also owns Irix Design Group, a leading design and advertising company based in Vancouver, Canada, Global Education Alliance (GEA) and Global Education City Holdings Inc. (GEC). GEA recruits international students for many elite kindergarten, primary, secondary schools and universities in North America. GEC is an investment holding and management company with a special focus on education related real estate projects in Canada. Visit us online at www.cibt.net (http://www.cibt.net) and watch our corporate video at http://cibt.net/about/ (http://cibt.net/about/). To view this table, please either click on the link below, or copy and paste the link into your browser: To view this press release as a PDF file, click onto the following link: http://www.fscwire.com/sites/default/files/ne...032015.pdf Source: CIBT Education Group Inc. (TSX:MBA, OTCQX:MBAIF) www.cibt.net Maximum News Dissemination by FSCwire. http://www.fscwire.com Copyright(C)2015 Filing Services Canada Inc.
MBA.TO: 0.32 (+0.01)
CIBT Featured on CKNW Radio – The Lynda Steele Show
Filing Services Canada XHTML - Thu Sep 03, 4:00PM CDT
MBA.TO: 0.32 (+0.01)
CIBT Education Group Closes Non-Brokered Private Placement
Filing Services Canada - Tue Jul 21, 6:05AM CDT
CIBT Education Group Closes Non-Brokered Private Placement Vancouver, British Columbia (FSCwire) - CIBT Education Group Inc. (TSX: MBA, OCTQX International: MBAIF) (CIBT) is pleased to report that it has closed its previously announced non-brokered private placement (the Financing) raising gross proceeds of $1,224,250 by the issuance of 4,897,000 units (each a Unit) at a price of $0.25 per Unit. Each Unit consists of one common share and one-half of one common share purchase warrant (each a Warrant). Each Warrant entitles the holder thereof to purchase one additional common share of the company at a price of $0.30 per share for a period of 24 months from the closing date. We are pleased to see the response to this latest private placement, commented Toby Chu, President and CEO, Vice Chairman of CIBT Education Group Inc. In mid-April, CIBT re-initiated its investor relations campaign by conducting a series of road shows and re-introducing the company and its exciting business activities to the investment community. After nearly six years of conducting a very low level of investor relations activities while growing our business, we were excited to learn that there is substantial interest in CIBTs innovative business model and prudent management approach. Many new investors have purchased our shares from the open market directly as a result of our renewed investor relations campaign, and our share trading volume increased significantly with over 9.78 million shares traded during the past 100 days. CIBTs trading price has also increased progressively from its 3 month low of $0.22 to the high of $0.34. It is our ongoing intention to maintain a manageable share structure with minimal dilution at each equity raise. We thank our shareholders for their interest and support. Finder's fees were paid in connection with the Financing. All of the securities issued in the Financing are subject to a statutory hold period expiring November 20, 2015. The net proceeds from the Financing will be used by the company for operations and general working capital. About CIBT Education Group: CIBT Education Group Inc. is an education management company focused on the global education market since 1994. Listed in Canada on the Toronto Stock Exchange and in the U.S. on the OTCQX International, CIBT owns and operates a network of business, technical and language colleges in North America and Asia. CIBT offers cooperative joint programs in 12 countries with campuses, recruitment offices and training centers enrolling over 7,000 students annually. Its education business is operated through Sprott Shaw College (established in 1903), Acsenda School of Management, CIBT School of Business China, and Global Education Alliance Recruitment Centers in China and other overseas countries. Through these subsidiaries, CIBT offers recognized and approved business and management degrees, programs in college preparation, healthcare, hotel management and tourism, English language training, English Teacher Certifications, junior and high school preparation programs for overseas study, and other career/vocational training. CIBT also owns Irix Design Group, a leading design and advertising company based in Vancouver, Canada, Global Education Alliance (GEA) and Global Education City Holdings Inc. (GEC). GEA recruits international students for many elite kindergarten, primary, secondary schools and universities in North America. GEC is an investment holding and management company with a special focus on education related real estate projects in Canada. Visit us online at www.cibt.net. To view this table, please either click on the link below, or copy and paste the link into your browser: To view this press release as a PDF file, click onto the following link: http://www.fscwire.com/sites/default/files/ne...212015.pdf Source: CIBT Education Group Inc. (TSX:MBA, OTCQX:MBAIF) www.cibt.net Maximum News Dissemination by FSCwire. http://www.fscwire.com Copyright(C)2015 Filing Services Canada Inc.
MBA.TO: 0.32 (+0.01)
CIBT Introduces New Corporate Video and Business Updates
Filing Services Canada XHTML - Mon Jul 20, 6:01AM CDT
MBA.TO: 0.32 (+0.01)
CIBT Unveils Fully Furnished Viva Suites for Metro Vancouver’s Education Sector
Filing Services Canada XHTML - Wed Jul 15, 6:00AM CDT
MBA.TO: 0.32 (+0.01)
CIBT Unveils Fully Furnished Viva Suites for Metro Vancouver's Education Sector
Filing Services Canada - Wed Jul 15, 6:00AM CDT
CIBT Unveils Fully Furnished Viva Suites for Metro Vancouvers Education Sector Vancouver, British Columbia (FSCwire) - CIBT Education Group Inc. (TSX: MBA, OCTQX International: MBAIF) (CIBT) is pleased to report that it has completed the first phase of renovations to its Viva Tower project which boosted the number of available market rental beds to 90 from the originally designed 35 beds. CIBT is now proceeding to Phase 2 of the renovation which consists of 120 more beds as well as other amenities. Completion of all phases of building renovations will yield approximately 220 beds. A show suite walk-through video is available online at: http://cibt.net/news/video/showsuite.php (http://cibt.net/news/video/showsuite.php) We are quite pleased with the quality of the finished product and the maximum efficiency we have been able to attain so far, commented Toby Chu, President and CEO, Vice Chairman of CIBT Education Group Inc. We are also pleased to report that all available beds at Viva Tower are fully rented out for the remainder of the summer, and bookings for the September to June academic season are in full swing. We expect to be fully booked by the end of August for September occupancy. We look forward to maintaining the current pace of adding an average of 2,000 beds per year though our various projects, and achieving a total target of 10,000 beds in 5 years. About CIBT Education Group: CIBT Education Group Inc. is an education management company focused on the global education market since 1994. Listed in Canada on the Toronto Stock Exchange and in the U.S on the OTCQX International, CIBT owns and operates a network of business, technical and language colleges in North America and Asia. CIBT offers cooperative joint programs in 12 countries with campuses, recruitment offices and training centers enrolling over 7,000 students annually. Its education business is operated through Sprott Shaw College (established in 1903), Acsenda School of Management, CIBT School of Business China, and Global Education Alliance Recruitment Centers in China and other overseas countries. Through these subsidiaries, CIBT offers recognized and approved business and management degrees, programs in college preparation, healthcare, hotel management and tourism, English language training, English Teacher Certifications, junior and high school preparation programs for overseas study, and other career/vocational training. CIBT also owns Irix Design Group, a leading design and advertising company based in Vancouver, Canada, Global Education Alliance (GEA) and Global Education City Holdings Inc. (GEC). GEA recruits international students for many elite kindergarten, primary, secondary schools and universities in North America. GEC is an investment holding and management company with a special focus on education related real estate projects in Canada. Visit us online at www.cibt.net. To view this table, please either click on the link below, or copy and paste the link into your browser: FORWARD-LOOKING STATEMENTS: Some statements in this news release contain forward-looking information (the forward-looking statements) about CIBT Education Group Inc. and its future plans. Forward-looking statements are statements that are not historical facts. The forward-looking statements in this news release include the statement as to the expectation that completion of all phases of building renovations at the Viva Tower project will yield approximately 220 beds, and the statement as to CIBTs target of achieving 10,000 beds in 5 years. These statements are subject to various risks, uncertainties and other factors (collectively, the Risks) that could cause CIBTs actual results or achievements to differ materially from those expressed in or implied by forward-looking statements. The Risks include, without limitation, the receipt of necessary municipal and other regulatory approvals to the CIBTs planned student-centric accommodation projects, as well as raising the required funding for such projects. Forward-looking statements are based on the beliefs, opinions and expectations of CIBTs management at the time they are made, and CIBT does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances should change, except as may be required by law. To view this press release as a PDF file, click onto the following link: http://www.fscwire.com/sites/default/files/ne...152015.pdf Source: CIBT Education Group Inc. (TSX:MBA, OTCQX:MBAIF) www.cibt.net Maximum News Dissemination by FSCwire. http://www.fscwire.com Copyright(C)2015 Filing Services Canada Inc.
MBA.TO: 0.32 (+0.01)
CIBT Featured on CTV News and Ranked in Top 100 Public Companies in B.C. by Business in Vancouver Newspaper
Filing Services Canada XHTML - Mon Jul 06, 6:01AM CDT
MBA.TO: 0.32 (+0.01)
CIBT Education Group Signs MOU to Build Education Super Center
Filing Services Canada - Fri Jun 19, 6:02AM CDT
CIBT Education Group Signs MOU to Build Education Super Center Vancouver, British Columbia (FSCwire) - CIBT Education Group Inc. (TSX: MBA, OCTQX International: MBAIF) (CIBT Group) is pleased to announce that it has signed a non-binding Memorandum of Understanding (MOU) with a Vancouver developer to jointly develop North Americas first education super center (the Super Center). The developer owns 2.51 acres of waterfront property in Metro Vancouver with the potential to rezone and develop the property into one office tower and two hotels totaling approximately 327,000 buildable square feet based on a 3.0 FAR (Floor Area Ratio). CIBT Group and the developer will work together to raise $60 million cash equity for the limited partnership in which the Super Center will be held. Raising the $60 million in the limited partnership will avoid any dilution of CIBT Group shares at the corporate level. Total project size is $200 million with the remaining balance of $140 million to be financed through commercial lenders. The MOU provides that CIBT Group will be paid a structuring fee of $12 million and will enter into a 20 year management contract. The MOU also provides for CIBT Group to acquire units in the limited partnership. As the first education super center in North America, this education-centric real estate project has the capacity to house up to 800 international students in its hotels, while accommodating campus space for public and private educational institutions and office space for professional firms supporting international education. The concept is to create a single location for students, educators and education service firms to do business in an education-centric environment. Common areas such as the cafeteria, auditoriums and library are typically the most costly and under-utilized spaces for any educational institution. With the ability to aggregate many schools under one roof while sharing this underperforming floor space, school tenants will be able to reduce operating costs and increase financial viability. The hotel component of the Super Center is expected to house CIBT Groups subsidiary schools as well as provide student accommodation to other schools in Metro Vancouver. CIBT Groups subsidiary schools, including Sprott Shaw College and Acsenda School of Management, and its Global Learning Network, are expected to utilize a portion of the campus space. The remaining campus space will be made available to other public and private educational institutions wishing to expand their international student enrollment by establishing a campus footprint in Metro Vancouver. With 22 years of operating experience in the global education market and innovative leadership in the education sector, CIBT Group has the in-depth knowledge of the needs and concerns of international students and their parents, commented Toby Chu, President, CEO and Vice Chairman of CIBT Group. On January 15th, 2014, Federal government announced plans to increase the number of international students that come to Canada by 100% in the next 8 years. The Super Center is designed to complement the objective of global education expansion by the Canadian education industry. Our goal is to provide a one-stop solution to international students studying in Metro Vancouver by offering a safe, secure, and convenient environment in which to study, relax and enjoy their stay in Canada. The Super Center will also allow us to fulfill our investment mandate of achieving emerging market growth while mitigating the emerging market risk by attracting international income to Canada, instead of spending substantial capital investments overseas. With the signing of the MOU, the parties are entering into the due diligence phase of the project. The planned Super Center is subject to the satisfaction of certain conditions including completion of the re-zoning application process and obtaining other relevant municipal approvals, as well as the execution of a binding agreement. About the Super Center: The proposed Super Center is a first of its kind in North America, employing the concept of combining a number of multidiscipline public and private institutions at one centralized location, supplemented by professional support services and student housing under one roof. The two major components of the Super Center are 1) Campus/Office Tower to house a variety of schools, immigration consultants and professional services for the education industry, and 2) a student-centric hotel for domestic and international students. Hotel Tenants: To support the theme of global education with a large number of tenants expected from the international market, a hotel is an integral part of the Super Center. According to market statistics, rental rates for Vancouver condominiums have increased by over 14% in the past 5 years while the vacancy rate has declined to 0.3% according to BCHMC, and demand is expected to continue to grow as more international students enter Canada, encouraged and supported by the initiatives and policies of the Province of British Columbia and the Government of Canada. Based upon data from government sources, approximately 112,800 foreign students are living in Metro Vancouver contributing over $10 billion in tuition revenue to the Canadian economy. In addition, total housing revenue generated by these foreign students is estimated to be over $1 billion per year in British Columbia alone, an average of $10,000 per student per year and is growing at a rate of 20% per year in B.C. One of the biggest challenges for international students and out-of-town domestic students studying in Metro Vancouver is the cost of accommodation. We believe that the Super Center's hotel accommodation for students will be the solution to this major challenge. It will also allow the majority of students to take an elevator to class, saving them time and transportation costs. School Tenants: CIBT Group anticipates that domestic educational institutions will become the anchor tenants of the Super Center, including a variety of public and private business schools, career colleges, language schools, arts schools, children art centers and universities. In addition, CIBT Group believes that the Super Center will also attract post-secondary schools from out-of-province and around the world wishing to establish a representative office or satellite campus in Metro Vancouver. The Super Center will be an ideal place to locate their campus due to its proximity to the Vancouver International Airport and a Sky Train station, and the short travel time to shopping and other amenities of downtown Vancouver via Sky Train. Professional Services Tenants: In addition to schools, the office tower will also be leased or sold to education industry consultants (commonly known as agents) and professionals such as immigration lawyers and accountants. Education agents contribute a significant volume of business to BC's education sector. Agents will be highly motivated to be located within the Super Center to increase their business with schools focused on international education, and exposure to international students. About CIBT Education Group: CIBT Education Group Inc. is an education management company focused on the global education market since 1994. Listed in Canada on the Toronto Stock Exchange and in the U.S on the OTCQX International, CIBT owns and operates a network of business, technical and language colleges in North America and Asia. CIBT offers cooperative joint programs in 12 countries with campuses, recruitment offices and training centers enrolling over 7,000 students annually. Its education business is operated through Sprott Shaw College (established in 1903), Acsenda School of Management, CIBT School of Business China, and Global Education Alliance Recruitment Centers in China and other overseas countries. Through these subsidiaries, CIBT offers recognized and approved business and management degrees, programs in college preparation, healthcare, hotel management and tourism, English language training, English Teacher Certifications, junior and high school preparation programs for overseas study, and other career/vocational training. CIBT also owns Irix Design Group, a leading design and advertising company based in Vancouver, Canada, Global Education Alliance (GEA) and Global Education City Holdings Inc. (GEC). GEA recruits international students for many elite kindergarten, primary, secondary schools and universities in North America. GEC is an investment holding and management company with a special focus on education related real estate projects in Canada. Visit us online at www.cibt.net. To view this table, please either click on the link below, or copy and paste the link into your browser: FORWARD-LOOKING STATEMENTS: Some statements in this news release contain forward-looking information (the forward-looking statements) about CIBT Education Group Inc. and its future plans. Forward-looking statements are statements that are not historical facts. The forward-looking statements in this news release are subject to various risks, uncertainties and other factors (collectively, the Risks) that could cause CIBT Groups actual results or achievements to differ materially from those expressed in or implied by forward-looking statements. The Risks include, without limitation, the ability to negotiate a binding agreement regarding the establishment of the Super Center, the ability to raise the required amount of equity for the planned limited partnership and the ability to obtain the rezoning and other required municipal approvals. Forward-looking statements are based on the beliefs, opinions and expectations of CIBT Groups management at the time they are made, and CIBT Group does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances should change, except as may be required by law. To view this press release as a PDF file, click onto the following link: http://www.fscwire.com/sites/default/files/ne...192015.pdf Source: CIBT Education Group Inc. (TSX:MBA, OTCQX:MBAIF) www.cibt.net Maximum News Dissemination by FSCwire. http://www.fscwire.com Copyright(C)2015 Filing Services Canada Inc.
MBA.TO: 0.32 (+0.01)
CIBT Education Group to Undertake Non-Brokered Private Placement
Filing Services Canada - Thu Jun 18, 8:02AM CDT
CIBT Education Group to Undertake Non-Brokered Private Placement Vancouver, British Columbia (FSCwire) - CIBT Education Group Inc. (TSX:MBA, OTCQX International: MBAIF) (CIBT) is pleased to report that it intends to undertake a non-brokered private placement to raise approximately $2.0 million through the issuance of units at a price of $0.25 per unit. Each unit will consist of one common share and one-half of a share purchase warrant. Each whole warrant will be exercisable at a price of $0.30 per warrant share for a period of two years. Proceeds will be used for acquisition of schools, to increase CIBTs ownership stake in its education real estate projects and for general working capital purposes. For the past two decades, management has been prudent and sensible in its management style, commented Toby Chu, President, CEO and Vice Chairman of CIBT Education Group. During the peak of the economic boom in 2007, our shares were trading at a substantial premium. As a result of this, CIBT raised over $20 million dollars of expansion capital. We managed our money carefully when the world economy entered into the years of global financial crisis beginning in 2008. We deployed our capital wisely and acquired a large portfolio of education assets at discounted value. Such undervalued transactions included the purchase of Sprott Shaw College, a school with $32.6 million revenue, for $11 million and Acsenda School of Management for $1.0 million, for a total purchase price of $12 million. We also purchased King George International College, a language school with $16.2 million revenue, for $4.3 million. By leveraging our global recruitment channels we expanded our student body to nearly 13,000 students and gross revenue ballooned from $5 million to nearly $59 million in 4 years. When the financial crisis entered into its recovery phase in 2013, CIBT sold King George International College for $13.5 million after 3 short years of investment and generated gross profit of $9.2 million. Cash proceeds were used to acquire a number of Vancouver real estate properties when property prices were much lower than todays hot market. We expanded our education real estate portfolio to nearly $100 million within 18 months. Rising real estate prices in Vancouver have resulted in the value of our real estate portfolio increasing by approximately $15 million in 1.5 years. Despite this, management recognizes that CIBTs shares have underperformed. To address this issue, we are taking several steps to remedy the situation. Management continues to identify business opportunities, and this private placement will, in part, provide funds to enable CIBT to pursue deals on which terms can be successfully negotiated. CIBT also reports that it has suspended its normal course issuer bid. About CIBT Education Group: CIBT Education Group Inc. is an education management company focused on the global education market since 1994. Listed in Canada on the Toronto Stock Exchange and in the U.S on the OTCQX International, CIBT owns and operates a network of business, technical and language colleges in North America and Asia. CIBT offers cooperative joint programs in 12 countries with campuses, recruitment offices and training centers enrolling over 7,000 students annually. Its education business is operated through Sprott Shaw College (established in 1903), Acsenda School of Management, CIBT School of Business China, and Global Education Alliance Recruitment Centers in China and other overseas countries. Through these subsidiaries, CIBT offers Western and Chinese accredited business and management degrees, programs in college preparation, healthcare, hotel management and tourism, English language training, English Teacher Certifications, junior and high school preparation programs for overseas study, and other career/vocational training. CIBT also owns Irix Design Group, a leading design and advertising company based in Vancouver, Canada, Global Education Alliance (GEA) and Global Education City Holdings Inc. (GEC). GEA recruits international students for many elite kindergarten, primary, secondary schools and universities in North America. GEC is an investment holding and management company with a special focus on education related real estate projects in Canada. Visit us online at www.cibt.net. To view this table, please either click on the link below, or copy and paste the link into your browser: FORWARD-LOOKING STATEMENTS: Some statements in this news release contain forward-looking information (the forward-looking statements) about CIBT Education Group Inc. and its future plans. Forward-looking statements are statements that are not historical facts. The forward-looking statements in this news release are subject to various risks, uncertainties and other factors (collectively, the Risks) that could cause CIBTs actual results or achievements to differ materially from those expressed in or implied by forward-looking statements. With respect to the completion of the private placement being undertaken in the announced amount or at all, the Risks include, without limitation, CIBTs ability to raise subscriptions from potential investors and the receipt of TSX approval. Forward-looking statements are based on the beliefs, opinions and expectations of CIBTs management at the time they are made, and CIBT does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances should change, except as may be required by law. To view this press release as a PDF file, click onto the following link: http://www.fscwire.com/sites/default/files/ne...182015.pdf Source: CIBT Education Group Inc. (TSX:MBA, OTCQX:MBAIF) www.cibt.net Maximum News Dissemination by FSCwire. http://www.fscwire.com Copyright(C)2015 Filing Services Canada Inc.
MBA.TO: 0.32 (+0.01)
CIBT Education Group to Acquire New Property in Metro Vancouver
Filing Services Canada XHTML - Wed May 27, 8:02AM CDT
MBA.TO: 0.32 (+0.01)
CIBT Signs MOU to Purchase New Condo Project for Approximately $20M
Filing Services Canada - Mon Oct 05, 8:03AM CDT
CIBT Signs MOU to Purchase New Condo Project for Approximately $20M
MBA.TO: 0.32 (+0.01)
CIBT Launches Official Website for its Student Housing Subsidiary
Filing Services Canada - Tue Sep 22, 8:04AM CDT
CIBT Launches Official Website for its Student Housing Subsidiary
MBA.TO: 0.32 (+0.01)
CIBT Provides Update on the Acquisition of Second Downtown Vancouver Hotel
Filing Services Canada - Mon Sep 14, 8:00AM CDT
CIBT Provides Update on the Acquisition of Second Downtown Vancouver Hotel Vancouver, British Columbia (FSCwire) - CIBT Education Group Inc. (TSX: MBA, OTCQX International: MBAIF) (CIBT) is pleased to report that, pursuant to its news release on June 22nd 2015 regarding the acquisition of a second downtown Vancouver hotel, subjects have been removed and the parties are proceeding to final closing which is scheduled for November 1st 2015. Details of the transaction will be disclosed after the transaction has been completed. As a result of this transaction, CIBT expects to add approximately 270 beds to its portfolio of student accommodation in the Greater Vancouver area generating approximately $3.1 million in gross rental annual revenue. "In addition to GEC Viva Tower and two other previously announced properties that are under development and construction, this latest addition will raise the total GEC portfolio in excess of $130 million, not including the flagship GEC project "Education Super Center" which itself is budgeted for $200 million," commented by Toby Chu, President and CEO, Vice Chairman of CIBT. "We are pleased with the progress achieved in less than 18 months and continue to pursue our $1 billion portfolio target within the next 5 years." About CIBT Education Group: CIBT Education Group Inc. is an education management company focused on the global education market since 1994. Listed in Canada on the Toronto Stock Exchange and in the U.S. on the OTCQX International, CIBT owns and operates a network of business, technical and language colleges in North America and Asia. CIBT offers cooperative joint programs in 12 countries with campuses, recruitment offices and training centers enrolling over 7,000 students annually. Its education business is operated through Sprott Shaw College (established in 1903), Acsenda School of Management, CIBT School of Business China, and Global Education Alliance Recruitment Centers in China and other overseas countries. Through these subsidiaries, CIBT offers recognized and approved business and management degrees, programs in college preparation, healthcare, hotel management and tourism, English language training, English Teacher Certifications, junior and high school preparation programs for overseas study, and other career/vocational training. CIBT also owns Irix Design Group, a leading design and advertising company based in Vancouver, Canada, Global Education Alliance (GEA) and Global Education City Holdings Inc. (GEC). GEA recruits international students for many elite kindergarten, primary, secondary schools and universities in North America. GEC is an investment holding and management company with a special focus on education related real estate projects in Canada. Visit us online at www.cibt.net (http://www.cibt.net) and watch our corporate video at http://cibt.net/about/ (http://cibt.net/about/). For more information contact: Toby Chu Vice-Chairman, President & CEO CIBT Education Group Inc. Investor Relations Contact: 1-604-871-9909 extension 318 or | Email: info@cibt.net (mailto:info@cibt.net) FORWARD-LOOKING STATEMENTS: Some statements in this news release contain forward-looking information (the forward-looking statements) about CIBT Education Group Inc. and its future plans. Forward-looking statements are statements that are not historical facts. The forward-looking statements in this news release include, without limitation, the annual gross rental revenue that is expected to be received following the acquisition of the second downtown Vancouver hotel. The forward-looking statements are subject to various risks, uncertainties and other factors (collectively, the Risks) that could cause CIBT Groups actual results or achievements to differ materially from those expressed in or implied by forward-looking statements. The Risks include, without limitation, the completion of the acquisition of the hotel and the ability of CIBT Group to fully rent out the available rooms at the anticipated monthly rental rate. Forward-looking statements are based on the beliefs, opinions and expectations of CIBT Groups management at the time they are made, and CIBT Group does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances should change, except as may be required by law. To view this press release as a PDF file, click onto the following link: http://www.fscwire.com/sites/default/files/ne...142015.pdf Source: CIBT Education Group Inc. (TSX:MBA, OTCQX:MBAIF) www.cibt.net Maximum News Dissemination by FSCwire. http://www.fscwire.com Copyright(C)2015 Filing Services Canada Inc.
MBA.TO: 0.32 (+0.01)
CIBT Featured on CKNW Radio - The Lynda Steele Show
Filing Services Canada - Thu Sep 03, 4:00PM CDT
CIBT Featured on CKNW Radio The Lynda Steele Show Vancouver, British Columbia (FSCwire) - CIBT Education Group Inc. (TSX: MBA, OCTQX International: MBAIF) (CIBT) is pleased to report that Mr. Toby Chu, President and CEO of CIBT, was featured live on The Lynda Steele Show on CKNW AM980 radio on September 2nd at 3.10p.m to discuss the growing market of international students coming to Vancouver, and its economic impact on Canadas overall economy. Please visit the audio link at: www.cibt.net/cknw/ (http://www.cibt.net/cknw/) About CIBT Education Group: CIBT Education Group Inc. is an education management company focused on the global education market since 1994. Listed in Canada on the Toronto Stock Exchange and in the U.S. on the OTCQX International, CIBT owns and operates a network of business, technical and language colleges in North America and Asia. CIBT offers cooperative joint programs in 12 countries with campuses, recruitment offices and training centers enrolling over 7,000 students annually. Its education business is operated through Sprott Shaw College (established in 1903), Acsenda School of Management, CIBT School of Business China, and Global Education Alliance Recruitment Centers in China and other overseas countries. Through these subsidiaries, CIBT offers recognized and approved business and management degrees, programs in college preparation, healthcare, hotel management and tourism, English language training, English Teacher Certifications, junior and high school preparation programs for overseas study, and other career/vocational training. CIBT also owns Irix Design Group, a leading design and advertising company based in Vancouver, Canada, Global Education Alliance (GEA) and Global Education City Holdings Inc. (GEC). GEA recruits international students for many elite kindergarten, primary, secondary schools and universities in North America. GEC is an investment holding and management company with a special focus on education related real estate projects in Canada. Visit us online at www.cibt.net (http://www.cibt.net) and watch our corporate video at http://cibt.net/about/ (http://cibt.net/about/). To view this table, please either click on the link below, or copy and paste the link into your browser: To view this press release as a PDF file, click onto the following link: http://www.fscwire.com/sites/default/files/ne...032015.pdf Source: CIBT Education Group Inc. (TSX:MBA, OTCQX:MBAIF) www.cibt.net Maximum News Dissemination by FSCwire. http://www.fscwire.com Copyright(C)2015 Filing Services Canada Inc.
MBA.TO: 0.32 (+0.01)
CIBT Featured on CKNW Radio – The Lynda Steele Show
Filing Services Canada XHTML - Thu Sep 03, 4:00PM CDT
MBA.TO: 0.32 (+0.01)
CIBT Education Group Closes Non-Brokered Private Placement
Filing Services Canada - Tue Jul 21, 6:05AM CDT
CIBT Education Group Closes Non-Brokered Private Placement Vancouver, British Columbia (FSCwire) - CIBT Education Group Inc. (TSX: MBA, OCTQX International: MBAIF) (CIBT) is pleased to report that it has closed its previously announced non-brokered private placement (the Financing) raising gross proceeds of $1,224,250 by the issuance of 4,897,000 units (each a Unit) at a price of $0.25 per Unit. Each Unit consists of one common share and one-half of one common share purchase warrant (each a Warrant). Each Warrant entitles the holder thereof to purchase one additional common share of the company at a price of $0.30 per share for a period of 24 months from the closing date. We are pleased to see the response to this latest private placement, commented Toby Chu, President and CEO, Vice Chairman of CIBT Education Group Inc. In mid-April, CIBT re-initiated its investor relations campaign by conducting a series of road shows and re-introducing the company and its exciting business activities to the investment community. After nearly six years of conducting a very low level of investor relations activities while growing our business, we were excited to learn that there is substantial interest in CIBTs innovative business model and prudent management approach. Many new investors have purchased our shares from the open market directly as a result of our renewed investor relations campaign, and our share trading volume increased significantly with over 9.78 million shares traded during the past 100 days. CIBTs trading price has also increased progressively from its 3 month low of $0.22 to the high of $0.34. It is our ongoing intention to maintain a manageable share structure with minimal dilution at each equity raise. We thank our shareholders for their interest and support. Finder's fees were paid in connection with the Financing. All of the securities issued in the Financing are subject to a statutory hold period expiring November 20, 2015. The net proceeds from the Financing will be used by the company for operations and general working capital. About CIBT Education Group: CIBT Education Group Inc. is an education management company focused on the global education market since 1994. Listed in Canada on the Toronto Stock Exchange and in the U.S. on the OTCQX International, CIBT owns and operates a network of business, technical and language colleges in North America and Asia. CIBT offers cooperative joint programs in 12 countries with campuses, recruitment offices and training centers enrolling over 7,000 students annually. Its education business is operated through Sprott Shaw College (established in 1903), Acsenda School of Management, CIBT School of Business China, and Global Education Alliance Recruitment Centers in China and other overseas countries. Through these subsidiaries, CIBT offers recognized and approved business and management degrees, programs in college preparation, healthcare, hotel management and tourism, English language training, English Teacher Certifications, junior and high school preparation programs for overseas study, and other career/vocational training. CIBT also owns Irix Design Group, a leading design and advertising company based in Vancouver, Canada, Global Education Alliance (GEA) and Global Education City Holdings Inc. (GEC). GEA recruits international students for many elite kindergarten, primary, secondary schools and universities in North America. GEC is an investment holding and management company with a special focus on education related real estate projects in Canada. Visit us online at www.cibt.net. To view this table, please either click on the link below, or copy and paste the link into your browser: To view this press release as a PDF file, click onto the following link: http://www.fscwire.com/sites/default/files/ne...212015.pdf Source: CIBT Education Group Inc. (TSX:MBA, OTCQX:MBAIF) www.cibt.net Maximum News Dissemination by FSCwire. http://www.fscwire.com Copyright(C)2015 Filing Services Canada Inc.
MBA.TO: 0.32 (+0.01)
CIBT Introduces New Corporate Video and Business Updates
Filing Services Canada XHTML - Mon Jul 20, 6:01AM CDT
MBA.TO: 0.32 (+0.01)
CIBT Unveils Fully Furnished Viva Suites for Metro Vancouver’s Education Sector
Filing Services Canada XHTML - Wed Jul 15, 6:00AM CDT
MBA.TO: 0.32 (+0.01)
CIBT Unveils Fully Furnished Viva Suites for Metro Vancouver's Education Sector
Filing Services Canada - Wed Jul 15, 6:00AM CDT
CIBT Unveils Fully Furnished Viva Suites for Metro Vancouvers Education Sector Vancouver, British Columbia (FSCwire) - CIBT Education Group Inc. (TSX: MBA, OCTQX International: MBAIF) (CIBT) is pleased to report that it has completed the first phase of renovations to its Viva Tower project which boosted the number of available market rental beds to 90 from the originally designed 35 beds. CIBT is now proceeding to Phase 2 of the renovation which consists of 120 more beds as well as other amenities. Completion of all phases of building renovations will yield approximately 220 beds. A show suite walk-through video is available online at: http://cibt.net/news/video/showsuite.php (http://cibt.net/news/video/showsuite.php) We are quite pleased with the quality of the finished product and the maximum efficiency we have been able to attain so far, commented Toby Chu, President and CEO, Vice Chairman of CIBT Education Group Inc. We are also pleased to report that all available beds at Viva Tower are fully rented out for the remainder of the summer, and bookings for the September to June academic season are in full swing. We expect to be fully booked by the end of August for September occupancy. We look forward to maintaining the current pace of adding an average of 2,000 beds per year though our various projects, and achieving a total target of 10,000 beds in 5 years. About CIBT Education Group: CIBT Education Group Inc. is an education management company focused on the global education market since 1994. Listed in Canada on the Toronto Stock Exchange and in the U.S on the OTCQX International, CIBT owns and operates a network of business, technical and language colleges in North America and Asia. CIBT offers cooperative joint programs in 12 countries with campuses, recruitment offices and training centers enrolling over 7,000 students annually. Its education business is operated through Sprott Shaw College (established in 1903), Acsenda School of Management, CIBT School of Business China, and Global Education Alliance Recruitment Centers in China and other overseas countries. Through these subsidiaries, CIBT offers recognized and approved business and management degrees, programs in college preparation, healthcare, hotel management and tourism, English language training, English Teacher Certifications, junior and high school preparation programs for overseas study, and other career/vocational training. CIBT also owns Irix Design Group, a leading design and advertising company based in Vancouver, Canada, Global Education Alliance (GEA) and Global Education City Holdings Inc. (GEC). GEA recruits international students for many elite kindergarten, primary, secondary schools and universities in North America. GEC is an investment holding and management company with a special focus on education related real estate projects in Canada. Visit us online at www.cibt.net. To view this table, please either click on the link below, or copy and paste the link into your browser: FORWARD-LOOKING STATEMENTS: Some statements in this news release contain forward-looking information (the forward-looking statements) about CIBT Education Group Inc. and its future plans. Forward-looking statements are statements that are not historical facts. The forward-looking statements in this news release include the statement as to the expectation that completion of all phases of building renovations at the Viva Tower project will yield approximately 220 beds, and the statement as to CIBTs target of achieving 10,000 beds in 5 years. These statements are subject to various risks, uncertainties and other factors (collectively, the Risks) that could cause CIBTs actual results or achievements to differ materially from those expressed in or implied by forward-looking statements. The Risks include, without limitation, the receipt of necessary municipal and other regulatory approvals to the CIBTs planned student-centric accommodation projects, as well as raising the required funding for such projects. Forward-looking statements are based on the beliefs, opinions and expectations of CIBTs management at the time they are made, and CIBT does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances should change, except as may be required by law. To view this press release as a PDF file, click onto the following link: http://www.fscwire.com/sites/default/files/ne...152015.pdf Source: CIBT Education Group Inc. (TSX:MBA, OTCQX:MBAIF) www.cibt.net Maximum News Dissemination by FSCwire. http://www.fscwire.com Copyright(C)2015 Filing Services Canada Inc.
MBA.TO: 0.32 (+0.01)
CIBT Featured on CTV News and Ranked in Top 100 Public Companies in B.C. by Business in Vancouver Newspaper
Filing Services Canada XHTML - Mon Jul 06, 6:01AM CDT
MBA.TO: 0.32 (+0.01)
CIBT Education Group Signs MOU to Build Education Super Center
Filing Services Canada - Fri Jun 19, 6:02AM CDT
CIBT Education Group Signs MOU to Build Education Super Center Vancouver, British Columbia (FSCwire) - CIBT Education Group Inc. (TSX: MBA, OCTQX International: MBAIF) (CIBT Group) is pleased to announce that it has signed a non-binding Memorandum of Understanding (MOU) with a Vancouver developer to jointly develop North Americas first education super center (the Super Center). The developer owns 2.51 acres of waterfront property in Metro Vancouver with the potential to rezone and develop the property into one office tower and two hotels totaling approximately 327,000 buildable square feet based on a 3.0 FAR (Floor Area Ratio). CIBT Group and the developer will work together to raise $60 million cash equity for the limited partnership in which the Super Center will be held. Raising the $60 million in the limited partnership will avoid any dilution of CIBT Group shares at the corporate level. Total project size is $200 million with the remaining balance of $140 million to be financed through commercial lenders. The MOU provides that CIBT Group will be paid a structuring fee of $12 million and will enter into a 20 year management contract. The MOU also provides for CIBT Group to acquire units in the limited partnership. As the first education super center in North America, this education-centric real estate project has the capacity to house up to 800 international students in its hotels, while accommodating campus space for public and private educational institutions and office space for professional firms supporting international education. The concept is to create a single location for students, educators and education service firms to do business in an education-centric environment. Common areas such as the cafeteria, auditoriums and library are typically the most costly and under-utilized spaces for any educational institution. With the ability to aggregate many schools under one roof while sharing this underperforming floor space, school tenants will be able to reduce operating costs and increase financial viability. The hotel component of the Super Center is expected to house CIBT Groups subsidiary schools as well as provide student accommodation to other schools in Metro Vancouver. CIBT Groups subsidiary schools, including Sprott Shaw College and Acsenda School of Management, and its Global Learning Network, are expected to utilize a portion of the campus space. The remaining campus space will be made available to other public and private educational institutions wishing to expand their international student enrollment by establishing a campus footprint in Metro Vancouver. With 22 years of operating experience in the global education market and innovative leadership in the education sector, CIBT Group has the in-depth knowledge of the needs and concerns of international students and their parents, commented Toby Chu, President, CEO and Vice Chairman of CIBT Group. On January 15th, 2014, Federal government announced plans to increase the number of international students that come to Canada by 100% in the next 8 years. The Super Center is designed to complement the objective of global education expansion by the Canadian education industry. Our goal is to provide a one-stop solution to international students studying in Metro Vancouver by offering a safe, secure, and convenient environment in which to study, relax and enjoy their stay in Canada. The Super Center will also allow us to fulfill our investment mandate of achieving emerging market growth while mitigating the emerging market risk by attracting international income to Canada, instead of spending substantial capital investments overseas. With the signing of the MOU, the parties are entering into the due diligence phase of the project. The planned Super Center is subject to the satisfaction of certain conditions including completion of the re-zoning application process and obtaining other relevant municipal approvals, as well as the execution of a binding agreement. About the Super Center: The proposed Super Center is a first of its kind in North America, employing the concept of combining a number of multidiscipline public and private institutions at one centralized location, supplemented by professional support services and student housing under one roof. The two major components of the Super Center are 1) Campus/Office Tower to house a variety of schools, immigration consultants and professional services for the education industry, and 2) a student-centric hotel for domestic and international students. Hotel Tenants: To support the theme of global education with a large number of tenants expected from the international market, a hotel is an integral part of the Super Center. According to market statistics, rental rates for Vancouver condominiums have increased by over 14% in the past 5 years while the vacancy rate has declined to 0.3% according to BCHMC, and demand is expected to continue to grow as more international students enter Canada, encouraged and supported by the initiatives and policies of the Province of British Columbia and the Government of Canada. Based upon data from government sources, approximately 112,800 foreign students are living in Metro Vancouver contributing over $10 billion in tuition revenue to the Canadian economy. In addition, total housing revenue generated by these foreign students is estimated to be over $1 billion per year in British Columbia alone, an average of $10,000 per student per year and is growing at a rate of 20% per year in B.C. One of the biggest challenges for international students and out-of-town domestic students studying in Metro Vancouver is the cost of accommodation. We believe that the Super Center's hotel accommodation for students will be the solution to this major challenge. It will also allow the majority of students to take an elevator to class, saving them time and transportation costs. School Tenants: CIBT Group anticipates that domestic educational institutions will become the anchor tenants of the Super Center, including a variety of public and private business schools, career colleges, language schools, arts schools, children art centers and universities. In addition, CIBT Group believes that the Super Center will also attract post-secondary schools from out-of-province and around the world wishing to establish a representative office or satellite campus in Metro Vancouver. The Super Center will be an ideal place to locate their campus due to its proximity to the Vancouver International Airport and a Sky Train station, and the short travel time to shopping and other amenities of downtown Vancouver via Sky Train. Professional Services Tenants: In addition to schools, the office tower will also be leased or sold to education industry consultants (commonly known as agents) and professionals such as immigration lawyers and accountants. Education agents contribute a significant volume of business to BC's education sector. Agents will be highly motivated to be located within the Super Center to increase their business with schools focused on international education, and exposure to international students. About CIBT Education Group: CIBT Education Group Inc. is an education management company focused on the global education market since 1994. Listed in Canada on the Toronto Stock Exchange and in the U.S on the OTCQX International, CIBT owns and operates a network of business, technical and language colleges in North America and Asia. CIBT offers cooperative joint programs in 12 countries with campuses, recruitment offices and training centers enrolling over 7,000 students annually. Its education business is operated through Sprott Shaw College (established in 1903), Acsenda School of Management, CIBT School of Business China, and Global Education Alliance Recruitment Centers in China and other overseas countries. Through these subsidiaries, CIBT offers recognized and approved business and management degrees, programs in college preparation, healthcare, hotel management and tourism, English language training, English Teacher Certifications, junior and high school preparation programs for overseas study, and other career/vocational training. CIBT also owns Irix Design Group, a leading design and advertising company based in Vancouver, Canada, Global Education Alliance (GEA) and Global Education City Holdings Inc. (GEC). GEA recruits international students for many elite kindergarten, primary, secondary schools and universities in North America. GEC is an investment holding and management company with a special focus on education related real estate projects in Canada. Visit us online at www.cibt.net. To view this table, please either click on the link below, or copy and paste the link into your browser: FORWARD-LOOKING STATEMENTS: Some statements in this news release contain forward-looking information (the forward-looking statements) about CIBT Education Group Inc. and its future plans. Forward-looking statements are statements that are not historical facts. The forward-looking statements in this news release are subject to various risks, uncertainties and other factors (collectively, the Risks) that could cause CIBT Groups actual results or achievements to differ materially from those expressed in or implied by forward-looking statements. The Risks include, without limitation, the ability to negotiate a binding agreement regarding the establishment of the Super Center, the ability to raise the required amount of equity for the planned limited partnership and the ability to obtain the rezoning and other required municipal approvals. Forward-looking statements are based on the beliefs, opinions and expectations of CIBT Groups management at the time they are made, and CIBT Group does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances should change, except as may be required by law. To view this press release as a PDF file, click onto the following link: http://www.fscwire.com/sites/default/files/ne...192015.pdf Source: CIBT Education Group Inc. (TSX:MBA, OTCQX:MBAIF) www.cibt.net Maximum News Dissemination by FSCwire. http://www.fscwire.com Copyright(C)2015 Filing Services Canada Inc.
MBA.TO: 0.32 (+0.01)
CIBT Education Group to Undertake Non-Brokered Private Placement
Filing Services Canada - Thu Jun 18, 8:02AM CDT
CIBT Education Group to Undertake Non-Brokered Private Placement Vancouver, British Columbia (FSCwire) - CIBT Education Group Inc. (TSX:MBA, OTCQX International: MBAIF) (CIBT) is pleased to report that it intends to undertake a non-brokered private placement to raise approximately $2.0 million through the issuance of units at a price of $0.25 per unit. Each unit will consist of one common share and one-half of a share purchase warrant. Each whole warrant will be exercisable at a price of $0.30 per warrant share for a period of two years. Proceeds will be used for acquisition of schools, to increase CIBTs ownership stake in its education real estate projects and for general working capital purposes. For the past two decades, management has been prudent and sensible in its management style, commented Toby Chu, President, CEO and Vice Chairman of CIBT Education Group. During the peak of the economic boom in 2007, our shares were trading at a substantial premium. As a result of this, CIBT raised over $20 million dollars of expansion capital. We managed our money carefully when the world economy entered into the years of global financial crisis beginning in 2008. We deployed our capital wisely and acquired a large portfolio of education assets at discounted value. Such undervalued transactions included the purchase of Sprott Shaw College, a school with $32.6 million revenue, for $11 million and Acsenda School of Management for $1.0 million, for a total purchase price of $12 million. We also purchased King George International College, a language school with $16.2 million revenue, for $4.3 million. By leveraging our global recruitment channels we expanded our student body to nearly 13,000 students and gross revenue ballooned from $5 million to nearly $59 million in 4 years. When the financial crisis entered into its recovery phase in 2013, CIBT sold King George International College for $13.5 million after 3 short years of investment and generated gross profit of $9.2 million. Cash proceeds were used to acquire a number of Vancouver real estate properties when property prices were much lower than todays hot market. We expanded our education real estate portfolio to nearly $100 million within 18 months. Rising real estate prices in Vancouver have resulted in the value of our real estate portfolio increasing by approximately $15 million in 1.5 years. Despite this, management recognizes that CIBTs shares have underperformed. To address this issue, we are taking several steps to remedy the situation. Management continues to identify business opportunities, and this private placement will, in part, provide funds to enable CIBT to pursue deals on which terms can be successfully negotiated. CIBT also reports that it has suspended its normal course issuer bid. About CIBT Education Group: CIBT Education Group Inc. is an education management company focused on the global education market since 1994. Listed in Canada on the Toronto Stock Exchange and in the U.S on the OTCQX International, CIBT owns and operates a network of business, technical and language colleges in North America and Asia. CIBT offers cooperative joint programs in 12 countries with campuses, recruitment offices and training centers enrolling over 7,000 students annually. Its education business is operated through Sprott Shaw College (established in 1903), Acsenda School of Management, CIBT School of Business China, and Global Education Alliance Recruitment Centers in China and other overseas countries. Through these subsidiaries, CIBT offers Western and Chinese accredited business and management degrees, programs in college preparation, healthcare, hotel management and tourism, English language training, English Teacher Certifications, junior and high school preparation programs for overseas study, and other career/vocational training. CIBT also owns Irix Design Group, a leading design and advertising company based in Vancouver, Canada, Global Education Alliance (GEA) and Global Education City Holdings Inc. (GEC). GEA recruits international students for many elite kindergarten, primary, secondary schools and universities in North America. GEC is an investment holding and management company with a special focus on education related real estate projects in Canada. Visit us online at www.cibt.net. To view this table, please either click on the link below, or copy and paste the link into your browser: FORWARD-LOOKING STATEMENTS: Some statements in this news release contain forward-looking information (the forward-looking statements) about CIBT Education Group Inc. and its future plans. Forward-looking statements are statements that are not historical facts. The forward-looking statements in this news release are subject to various risks, uncertainties and other factors (collectively, the Risks) that could cause CIBTs actual results or achievements to differ materially from those expressed in or implied by forward-looking statements. With respect to the completion of the private placement being undertaken in the announced amount or at all, the Risks include, without limitation, CIBTs ability to raise subscriptions from potential investors and the receipt of TSX approval. Forward-looking statements are based on the beliefs, opinions and expectations of CIBTs management at the time they are made, and CIBT does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances should change, except as may be required by law. To view this press release as a PDF file, click onto the following link: http://www.fscwire.com/sites/default/files/ne...182015.pdf Source: CIBT Education Group Inc. (TSX:MBA, OTCQX:MBAIF) www.cibt.net Maximum News Dissemination by FSCwire. http://www.fscwire.com Copyright(C)2015 Filing Services Canada Inc.
MBA.TO: 0.32 (+0.01)
CIBT Education Group to Acquire New Property in Metro Vancouver
Filing Services Canada XHTML - Wed May 27, 8:02AM CDT
MBA.TO: 0.32 (+0.01)
