January 26th , 2017, Vancouver, BC: CIBT Education Group Inc. (“CIBT”) (TSX: MBA, OTCQX International: MBAIF) reports that its wholly owned subsidiary, Sprott-Shaw Degree College Corp. (“Sprott Shaw”) has been appointed by BDO Canada Limited, court appointed interim receiver of KGIC Inc., to act as its managing agent.
Acting as managing agent, Sprott Shaw will supervise and direct the management and operation of the business operated by KGIC Inc. and its subsidiaries (the “KGIC Group”), including the operation of all 18 KGIC Group schools in British Columbia and Ontario in compliance with the applicable education policies of those jurisdictions and with a view to ensuring the welfare of the approximately 2,000 students who attend those schools.
About CIBT Education Group:
CIBT Education Group Inc. is one of the largest education and student-housing investment companies in Canada focused on the global education market since 1994. Listed on the Toronto Stock Exchange and U.S OTCQX International, CIBT owns business & language colleges, student housing properties, recruitment centers and corporate offices at 34 locations in Canada and abroad. Total annual enrollment for the group exceeds 8,000 students. Its education providers include Sprott Shaw College (established in 1903), Vancouver International College and CIBT School of Business. Through these schools, CIBT offers business and management programs in healthcare, hotel management, language training, and over 150 career and vocational programs. CIBT's property investments are owned by Global Education City Holdings Inc., an investment holding and management company focused on developing education related real estate such as student hotels, serviced apartments and education super centers totalling over $600 million. CIBT also owns Global Education Alliance (“GEA”) and Irix Design Group ("Irix Design"). GEA recruits international students for many elite kindergarten, primary & secondary schools, colleges and universities in North America. Irix Design is a leading design and advertising company based in Vancouver, Canada. Visit us online at www.cibt.net, www.studenthotel.ca, and watch our corporate video at http://cibt.net/about/
For more information contact:
President, CEO and Chairman
CIBT Education Group Inc.
Investor Relations Contact: 1-604-871-9909 extension 310 or | Email: email@example.com