Year: 2016

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Keep up to date with the latest CIBT developments through our most recent news.

CIBT Provides Update on Financing of GEC Education Super Center and GEC Education Mega Center

December 19, 2016

December 19th 2016, Vancouver, BC: CIBT Education Group Inc. (“CIBT” or the “Company”) (TSX: MBA, OTCQX International: MBAIF) is pleased to report that subscription funds of $10.175 million have been received for the Phase 1 equity financing of GEC Education Super Center Limited Partnership. This amount is expected to rise to a total of $11 million in January 2017. A portion of the subscription funds were used to acquire the lands for the future site...

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CIBT Reports Financial Results for Fiscal Year Ended August 31st 2016

December 2, 2016

December 1st, 2016, Vancouver, BC: CIBT Education Group Inc. (“CIBT” or “Company”) (TSX: MBA, OTCQX International: MBAIF) is pleased to report that it has filed on SEDAR its annual audited financial statements and related Management’s Discussion & Analysis (the “2016 Financial Report”) for the fiscal year ended August 31st 2016 (“Fiscal 2016”). To review the filing, please visit CIBT’s profile at www.sedar.com. The following table presents selected financial data from the 2016 Financial Report: Selected...

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CIBT Listed as 56th Most Profitable Company in B.C by Business in Vancouver

November 21, 2016

Vancouver, B.C., November 21st, 2016 – Vancouver, BC: CIBT Education Group Inc. (“CIBT” or “Company”) (TSX: MBA, OTCQX International: MBAIF) is pleased to report that the Company is included in the Business in Vancouver annual list of “Top 100 Most Profitable Companies in B.C.” appearing in the newspaper’s November 15th edition. CIBT has advanced its ranking from 72nd in 2015 to 56th in 2016 due to improved net income performance of 16.5% from the previous...

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CIBT Reports Completion of Purchase of GEC Burnaby Heights Property for $17.75 Million

November 2, 2016

Vancouver, B.C., November 2nd 2016 - CIBT Education Group Inc. (TSX: MBA, OTCQX International: MBAIF) (“CIBT” or the “Company”) is pleased to announce the completion of the purchase of GEC Burnaby Heights, a residential and commercial building located in Burnaby, B.C., for $17.75 million before furniture, fixtures and equipment. The Company’s wholly-owned subsidiary, Global Education City Management Corp. (“GEC Management”), has taken possession of the building as of October 31st, 2016 on behalf of its...

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CIBT Reports Completion of GEC Education Super Center Land Purchase for $17 Million

October 3, 2016

Vancouver, B.C., October 3rd, 2016 - CIBT Education Group Inc. (TSX: MBA, OTCQX International: MBAIF) (“CIBT”) is pleased to announce the completion of the purchase of five parcels of lands located in Metro Vancouver for $17 million, with an option to purchase a sixth adjacent parcel from another owner upon development permit approval. Total square footage of the five parcels is approximately 80,000 square feet. The total proposed buildable square footage, including the sixth parcel,...

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Over $16 Million in Private Placement Subscriptions Received for Flagship Global Education City Projects

September 28, 2016

Vancouver, B.C., September 28th, 2016 - CIBT Education Group Inc. (TSX: MBA, OTCQX International: MBAIF) (“CIBT”) is pleased to announce that approximately $16.85 million in subscription funds and signed unit subscription agreements have been received from qualified investors for the purchase of limited partnership units in connection with the GEC Education Mega Center and GEC Education Super Center flagship projects. The subscriptions will be closed in a series of tranches throughout September and October. Proceeds...

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