CIBT to Raise US$10 Million Private Equity
CIBT Canadian Institute of Business & Technology Corp. (“CIBT”), a subsidiary of Capital Alliance Group Inc. (TSX-V:CPT) and a leading business school providing academic degree programs, corporate and information technology training solutions in China, announces that it has engaged Capital Run, LLC, to raise US$10M in private equity for CIBT to finance further expansion in China. Capital Run is a Seattle-based investment banking firm. The terms and date of the financing are yet to be determined.
The proceeds of the financing will be used to expand CIBT’s market presence to ten new cities in China. CIBT currently operates three campuses in Beijing and five affiliate campuses.
“We are very excited to be working with CIBT on this equity financing. Based on the tremendous strength of the U.S. for-profit post-secondary education sector, we believe that China represents a significant growth area for this industry,” says John Jacobs, a Managing Partner with Capital Run.
“Interest in China-based companies and the U.S. for-profit education sector is at an all-time high,” stated president and CEO Toby Chu. “We are confident that CIBT’s track record, infrastructure and its close partnerships with major U.S. education providers will result in significant interest from strategic investors and future growth for CIBT.”
About Capital Run
Capital Run is a boutique investment bank that specializes in private equity and debt placements, mergers and acquisitions and strategic advisory services for middle-market growth companies.
CIBT has provided academic degrees, corporate training and information technology programs in China since 1994. Rated among the top ten foreign-owned MBA providers in China, CIBT was one of the first institutions to receive official governmental approval to award foreign-accredited MBA degrees. CIBT has three campuses in Beijing consisting of over 107,000 square-feet of campus space.
On Behalf of the Board of Directors of CIBT.
President and C.E.O
THE CANADIAN VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY SECURITIES IN ANY JURISDICTION.
“SAFE HARBOR” STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: THIS NEWS RELEASE CONTAINS FORWARD LOOKING STATEMENTS THAT ARE NOT HISTORICAL FACTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE SET FORTH IN OR IMPLIED HEREIN.