CIBT Provides Update on Filing Status
December 8th, 2008, CIBT Education Group Inc. (NYSE Alternext US: MBA; TSX.V: MBA) wishes to inform its shareholders that the company will be filing its fiscal 2008 financial statements and associated management’s discussion and analysis shortly.
During the past fiscal year, the company completed a number of acquisitions and financing activities. The company also changed its fiscal year end from June 30th to August 31st in order to coincide with the fiscal year end of all of its newly acquired subsidiaries including Sprott-Shaw Community College and Tourism Training Institute. These factors contributed to a significant increase in accounting, filing and disclosure requirements. In addition to these changes, the company ceased to be a venture issuer in April 2008 upon the listing of its shares for trading on the American Stock Exchange (now NYSE Alternext), which accelerated the filing deadline of its annual financial report from 120 days to 90 days.
Management is working diligently with the company’s auditors and accountants to ensure that the annual financial statements and management’s discussion and analysis are filed in good standing as soon as possible.
CIBT Education Group Inc.
“Toby Chu”
Toby Chu
Vice-Chairman, President & CEO
Investor Relations Contact: N. America Toll Free: 1-800-574-0901* Email: info@cibt.net
Legal Notice Regarding Forward-Looking Statements: “Forward-looking Statements” as defined in the Private Securities Litigation Reform Act of 1995 may be required in this news release. These statements relate to the filing of CIBT’s annual financial statements and associated management’s discussion and analysis. These statements are only predictions and may differ materially from actual future results or events. CIBT disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to the timing of the completion of the audit of CIBT’s financial statements.
The TSX Venture Exchange and the NYSE Alternext have not reviewed and do 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.