Capital Alliance Group Reports Final Closing of US$5M Financing
Capital Alliance Group Inc (TSXV: CPT) reports that its subsidiary, CIBT School of Business and Technology Corp. (“CIBT”), has formally completed its US$5 million warrant debenture financing as reported in a news release dated April 3rd 2007.
Capital Alliance further reports that it has converted an inter-company loan of $1.555 million into equity of CIBT, and invested additional cash capital of $1.444 million into CIBT at US$0.93254585 per CIBT share. The total value of these two transactions amounts to US$3 million dollars, which is in addition to the $5M warrant debenture financing described above. CIBT is now fully capitalized to aggressively expand its business presence and operations in China.
About CIBT:
CIBT School of Business is a leading business, technology and technical school in China for over a decade. CIBT operates four campuses in Beijing, two campuses in Weifang, one campus in Anyang, and three learning centers in other cities in China. CIBT has academic partnerships with Beijing University of Technology and Weifang University, and delivers postsecondary business, technology and technical trade skill programs to students and corporations in China. By cooperating with leading education providers in North America including Western International University, a subsidiary of Apollo Group Inc., ITT Technical Institute, WyoTech Technical Institute, a subsidiary of Corinthian Colleges Inc., and other universities from Europe and Asia, CIBT delivers advanced curricula to meet the progressive needs of China’s growing student population.
About Capital Alliance Group Inc.:
Capital Alliance Group, headquartered in Vancouver, British Columbia, Canada is a diversified investment, operations and management firm with a broad international presence. Founded in 1986, the company currently has offices in Mainland China and Canada. Capital Alliance Group has brought together a team of professionals with extensive practical experience in building world-class organizations in both the old and new economy. With a long track record of success in the international business arena, Capital Alliance Group’s team has both the depth and breadth of management expertise to assist its subsidiary companies in all phases of their growth.
Capital Alliance Group Inc. and
CIBT School of Business & Technology Corp.
Toby Chu
President & C.E.O.
Investor Relations Contact: Mr. James Neil * N. America Toll Free: 1-888-865-0901 Ext.322 * Email: info@cag-global.com
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