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
15th, 2019 to June
30th, 2019 decreased substantially from 433,683
shares to 191,411 shares. Last traded price as of
July 8th, 2019 was
$0.72, an increase of 44% in share
value between June 14th
and July 8th, 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.