CIBT Reports Decrease in Short-Selling Volume by Nearly One-Half

VANCOUVER, July 11, 2019 /CNW/ - CIBT Education Group Inc. ("CIBT" or the "Company") (TSX: MBA, OTCQX International: MBAIF) reports the following update on the short-selling position in CIBT's shares as published by the TSX.  The total short position between June 15^th, 2019 to June 30^th, 2019 decreased substantially from 433,683 shares to 191,411 shares.  Last traded price as of July 8^th, 2019 was $0.72, an increase of 44% in share value between June 14^th and July 8^th,  while the short position decreased by 242,272 shares.

 

Date	Total Short Position	Total Volume	Net Change	Last Traded	$ Range
2019/06/30	191,411	1,390,250	-242,272	0.67*	0.50 - 0.69
2019/06/14	433,683	912,430	407,032	0.50*1	0.50 - 0.56
2019/05/31	26,651	420,689	6,356	0.58	0.57 - 0.65
2019/05/14	20,295	342,400	6,443	0.65	0.65 - 0.70
2019/04/30	13,852	576,729	-6,648	0.68	0.62 - 0.70
2019/04/15	20,500	252,398	16,997	0.63	0.63 - 0.67

*1 Closing price used is the last non-zero.  Source: TSX

 

"We are pleased to see that the short-selling volume has decreased by nearly one-half during the past two weeks, while the Company's share value increased by 44%," commented Toby Chu, Chairman, President and CEO of CIBT Group. "In the coming weeks, management will escalate its efforts to defend its position vigorously and will demonstrate our confidence in current and future operations by continuing our share buyback efforts while preserving long-term shareholder value."

About CIBT Education Group:
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 centers and corporate offices at 45 locations in Canada and abroad.  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 centers.  Total portfolio and development budget of projects under Global Education's GEC® brand is more than C$1 billion.  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.

FORWARD-LOOKING STATEMENTS:
Some statements in this news release contain forward-looking information (the "forward-looking statements"). Forward-looking statements are statements that are not historical facts and in this news release includes, without limitation, the statement that long-term shareholder value will be preserved.  Forward-looking statements are subject to various risks, uncertainties and other factors (collectively, "Risks") that could cause CIBT's actual results or achievements to differ materially from those expressed in or implied by forward-looking statements.  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.

SOURCE CIBT Education Group Inc.

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