CIBT Education Group Provides Corporate Update on GEC Projects - Seite 3
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 and language colleges, student housing properties, recruitment centres and corporate offices at 45 locations in Canada and abroad. The total annual enrollment for the group exceeds 12,000 students. Its education providers include Sprott Shaw College (established in 1903), Sprott Shaw Language College, 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, language and vocational programs. CIBT owns Global Education City Holdings Inc. (“Global Education”), an investment holding and development company focused on developing education related real estate such as student hotels, serviced apartments and education centres. The total portfolio and development budget of projects under Global Education’s GEC brand is over C$1 billion. The various GEC properties provide accommodations to over 1,500 students and other tenants. CIBT also owns Global Education Alliance (“GEA”) and Irix Design Group ("Irix Design"). GEA recruits international students on behalf of many elite kindergartens, primary and secondary schools, colleges and universities in North America. Irix Design is a leading design and advertising company based in Vancouver, Canada. Visit us online and watch our corporate video at www.cibt.net.
Toby Chu
Chairman, President & CEO
CIBT Education Group Inc.
Investor Relations Contact: 1-604-871-9909 extension 318 or | Email: info@cibt.net
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FORWARD-LOOKING STATEMENTS
Some statements in this news release contain forward-looking information (the “forward-looking statements”) about CIBT Education Group Inc. and its plans. Forward-looking statements are statements
that are not historical facts. Forward-looking statements in this news release include (without limitation) statements as to expected construction commencement and completion dates and the
projected values of GEC properties. The forward-looking statements are subject to various risks, uncertainties and other factors that could cause CIBT’s actual results or achievements to
differ materially from those expressed in or implied by forward-looking statements, including but not limited to usual construction risks, obtaining all necessary regulatory approvals, and the
ability of the relevant limited partnerships to raise further funds as they are needed. The projected value of each GEC property is based on a series of analysis of various factors include
(1) the cap rate based on market statistics, (2) current market environment, conditions and sentiment, (3) price per square foot in recent transactions in the neighbouring area, (4) input received
from appraisers and real estate professionals, and (5) calculations of pro forma income and expenses for the project. Forward-looking statements are based on the beliefs, opinions and
expectations of CIBT’s 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.