Capital Alliance Group Reports Private Placement
Capital Alliance Group Inc. (TSX-V: CPT) reports that it has negotiated a non-brokered private placement to raise $1.2 million by the issuance of units at a price of $0.55 each. Each unit will consist of one common share and one share purchase warrant entitling the holder to purchase one share at a price of $0.57 for two years from the closing date. The private placement is subject to receipt of TSX Venture Exchange acceptance.
“We are pleased to receive the support of the institutional investment fund and certain of our directors and officers who are participating in this financing,” commented Toby Chu, president and chief executive officer. “These funds will allow Capital Alliance Group to increase its ownership in its subsidiary, CIBT School of Business & Technology Corp. and provide additional working capital.”
The company also reports the grant of options under its stock option plan to qualified recipients entitling them to purchase, for a term of five years, a total of 1.5 million common shares at a price of $0.58 per share.
CIBT School of Business and Technology Corp.
President & C.E.O.
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