By Sheri Kasprzak
New York, Aug. 16 - CIBT School of Business & Technology Corp. has closed a private placement for more than it planned.
The company sold 1,147,000 shares at $1.00 each for proceeds of $1,147,000.
So far, the company has received $1,065,000 of the proceeds and expects to receive the remainder on Aug. 19.
The deal was announced July 18 as a $1 million offering of up to 1 million shares at the same price.
Based in Vancouver, B.C., CIBT is a subsidiary of Capital Alliance Group Inc. and is a business school with campuses in China.
| Issuer: | CIBT School of Business & Technology Corp.
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| Issue: | Stock
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| Amount: | $1,147,000
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| Shares: | 1,147,000
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| Price: | $1.00
|
| Warrants: | No
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| Announcement date: | July 15
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| Settlement date: | Aug. 16
|
| Stock price: | $0.545 at close July 15 (for Capital Alliance)
|
| Stock price: | $0.50 at close Aug. 8 (last trade)
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