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MedBright AI Investments Inc. (MBAIF) is a cutting-edge artificial intelligence company specializing in healthcare technology solutions. The company focuses on developing AI-powered tools for hospitals and outpatient care facilities to enhance patient outcomes and streamline operational processes. With a team of experienced data scientists and healthcare professionals, MBAIF is at the forefront of revolutionizing the healthcare industry.
CIBT Education Group Inc. (TSX:MBA)(OTCQX:MBAIF) announced plans to raise $60 million for its GEC Education Mega Center project in Surrey, BC. A subsidiary has signed a non-binding term sheet with a mortgage lender to secure up to $50 million in loans and equity investment. The project aims to provide a mixed-use development, featuring academic facilities and residential units. The total development budget is approximately $270 million, significantly benefiting the local education sector and housing market.
VANCOUVER, BC / ACCESSWIRE / May 31, 2021 / CIBT Education Group (TSX:MBA)(OTCQX:MBAIF) has announced the successful acquisition of $8.9 million through corporate finance activities, specifically from limited partnership investments and corporate bond subscriptions from March 1 to May 28, 2021.
The funds are earmarked for potential acquisitions, existing project funding, and increasing ownership in select limited partnerships, according to CEO Toby Chu. CIBT is a leading educational services provider in Canada with a substantial real estate portfolio valued over $1.5 billion.
CIBT Education Group Inc. (TSX:MBA)(OTCQX:MBAIF) announces that CBRE Limited has initiated a marketing campaign to exclusively sell six rental buildings in their portfolio. This offering includes 413 units located in prime downtown and westside transit-accessible areas. CBRE is targeting institutional and private buyers, aiming to optimize asset value. With their strong global standings, CBRE’s involvement is expected to enhance transaction competitiveness and potentially yield significant returns for CIBT, which oversees a real estate portfolio exceeding $1.5 billion.
CIBT Education Group (TSX:MBA)(OTCQX:MBAIF) announced a partnership with CBRE Limited to sell six GEC® rental buildings in Metro Vancouver. This portfolio includes 413 units in prime locations. The sale aims to capitalize on a booming real estate market, with expected proceeds to enhance CIBT’s ownership in other ongoing projects valued over $1.5 billion. Future developments include GEC® King Edward and GEC Education Super Center, with projected exit values totaling $314 million. CIBT remains focused on creating student-centric properties to stabilize recurring income.
CIBT Education Group Inc. (TSX:MBA)(OTCQX:MBAIF) announced plans for its subsidiary, GEC Education Center, to raise $60 million in equity to fund the construction of the GEC Education Mega Center. This project involves a 49-storey mixed-use development in Surrey, featuring 404,249 square feet of residential and commercial space. The company has previously secured nearly $33 million in financing and plans to increase its stake in the project. The total development budget is approximately $270 million.
CIBT Education Group (TSX:MBA)(OTCQX:MBAIF) announced that its GEC Education Mega Center project received approval from Surrey City Council on February 22, 2021. This allows the project to move forward with construction expected to commence post-summer 2021, aimed for completion by late 2024 or early 2025. The development will involve a 49-storey mixed-use building, comprising residential and commercial spaces with a budget of approximately $270 million. CIBT's real estate portfolio is anticipated to benefit from the growing demand in the Metro Vancouver housing market.
CIBT Education Group (TSX:MBA)(OTCQX:MBAIF) announced the Toronto Stock Exchange's approval to increase its current normal course issuer bid (NCIB) from 3,000,000 to 3,727,177 shares, allowing for a maximum buyback cost of $3,000,000. As of February 8, 2021, 2,979,500 shares had already been repurchased, with NCIB set to conclude on March 11, 2021. The company can buy up to 2,371 shares daily through the exchange. CIBT continues to focus on providing education and housing solutions for students, boasting over 150 programs and servicing 11,000 students in 2020.
CIBT Education Group (TSX:MBA)(OTCQX:MBAIF) has received approval from Surrey City Council for its flagship project, GEC Education Mega Center, during public hearings on February 8, 2021. The project will proceed to the third public hearing on February 22, 2021, with construction expected to start after the summer of 2021 and completion by 2024. This mixed-use development will provide housing for 982 occupants and is anticipated to generate significant rental income. The total development budget is approximately $270 million.
CIBT Education Group Inc. (TSX:MBA)(OTCQX:MBAIF) announced conditional approval for its GEC® Education Mega Center in Surrey, BC, from the Advisory Design Panel on November 19, 2020. This approval is subject to minor design adjustments and paves the way for future council hearings in early 2021. Additionally, Surrey City Development Corp. is expanding with Simon Fraser University, creating a new office hub that may increase local employment. The EMC will be a 49-storey building with a budget of approximately $270 million, aiming to boost education and business opportunities in Surrey.
CIBT Education Group (TSX:MBA)(OTCQX:MBAIF) announced a $7 million investment commitment for the GEC® Oakridge project, with the first tranche of $3.5 million already closed. The second tranche is expected to close by May 31, 2021. This investment follows $18.33 million in private placements completed in the last 90 days and the acquisition of GEC® Marine Gateway for $48.5 million. CIBT continues to support its business model through these investments and acquisitions.
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