VANCOUVER, BC / ACCESSWIRE / September 7, 2021 / CIBT Education Group Inc. (TSX:MBA)(OTCQX:MBAIF) ("CIBT" or the "Company") is pleased to report that the Company is named one of the Top 100 Fastest-Growing Companies in British Columbia in the August 30th, 2021 issue of the Business in Vancouver ("BIV") newspaper. The Company was also named one of the Top 100 Public Companies in British Columbia in the August 2021 edition of BIV's Book of Lists magazine. Additionally, the Company's acquisition of two residential rental buildings, branded as GEC® Marine Gateway ("MC2"), is ranked one of the Biggest Real Estate Deals of 2020 in the August 2021 edition of the Book of Lists magazine.
Overview of CIBT's rankings according to Business in Vancouver
- Top 100 Fastest-Growing Companies in British Columbia1: CIBT ranked #61 with five-year revenue growth of 73.2%
- Top 100 Public Companies in British Columbia2: CIBT ranked #68 with a revenue of $62.548 million
- Biggest Real Estate Deals of 20203: MC2 ranked #17 with a deal value of $48.5 million
"We are proud to be recognized and to be ranked in several prominent categories by Business in Vancouver which highlights the strength of our business model despite the economic challenges caused by the COVID-19 pandemic," said Toby Chu, Chairman, President and CEO of CIBT Education Group Inc. "As more students return to school and businesses re-open, we will continue to execute on our growth strategy in expanding our real estate portfolio and advancing our education segment."
1 The Top 100 Fastest-Growing Companies list is one of Business in Vancouver's most prestigious rankings. It recognizes companies in British Columbia with the greatest percentage of revenue growth over the past five fiscal years.
2 The Top 100 Public Companies list recognizes companies in British Columbia with the highest revenue in 2020.
3 The Biggest Real Estate Deals of 2020 recognizes property transactions in British Columbia with the highest total deal value.
About CIBT Education Group:
CIBT is one of Canada's largest education services and academic real estate companies. With a global presence since 1994, CIBT employs nearly 600 staff at 45 business locations and operates a global network of 2,500 recruitment agents. In 2020, the group provided education, student recruitments and accommodation services to over 11,000 students. Its real estate portfolio, including operating assets and development budget, exceeds $1.5 billion.
CIBT's education subsidiaries include Sprott Shaw College (established in 1903), Sprott Shaw Language College, Vancouver International College Career Campus, CIBT School of Business and Global Education Alliance. These subsidiaries offer over 150 accredited educational programs in healthcare, business, e-commerce, cyber-security, hotel management, language training and recruitment services at 29 locations in Canada and abroad.
CIBT's real estate subsidiary, Global Education City Holdings Inc. ("Global Holdings"), develops and manages academic assets such as student-centric rental apartments, corporate housing, hotel and education super-centres. Since 2015, Global Holdings has provided B2B accommodation service to 90 schools in Metro Vancouver and B2C direct registration of 6,000 students from 71 countries. The GEC® branded portfolio comprises 10 projects, 15 buildings spanning nearly 1.5 million square feet, including operational, under-construction and development properties.
CIBT also owns Irix Design Group Inc. ("Irix Design"). Irix Design is a leading design and advertising company that services over one hundred corporate clients, including CIBT. Visit us online at www.cibt.net.
Toby Chu
Chairman, President & CEO
CIBT Education Group Inc.
Investor Relations Contact:
1-604-871-9909 extension 319
Email: info@cibt.net
FORWARD-LOOKING STATEMENTS
Some statements in this news release contain forward-looking information (the "forward-looking statements") about CIBT and its plans. Forward-looking statements are statements that are not historical facts. Forward-looking statements in this news release include, without limitation, the statement that CIBT will continue to execute on its growth strategy in expanding its real estate portfolio and advancing its education segment. The forward-looking statements are subject to various risks, uncertainties and other factors (collectively, the "Risks") that could cause CIBT's actual results or achievements to differ materially from those expressed in or implied by forward-looking statements. The Risks include, without limitation that student course enrollments don't continue in the numbers expected due to COVID-19 or for other reasons, that CIBT is unable to identify suitable properties for acquisition or, once identified, to acquire such properties, as well as the Risks identified in CIBT's annual information form for the fiscal year ended August 31, 2020 which is available under CIBT's profile on SEDAR at www.sedar.com. 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. If CIBT updates any forward-looking statement(s), no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking statements.
SOURCE: CIBT Education Group Inc.
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