By Sheri Kasprzak
New York, Feb. 21 - Capital Alliance Group Inc. said it has arranged a private placement for C$1.2 million.
The non-brokered offering includes up to 2,181,818 units at C$0.55 apiece.
The units consist of one share and one warrant. The warrants are exercisable at C$0.57 each for two years.
Proceeds will be used to increase its ownership in subsidiary CIBT School of Business & Technology Corp. The remainder will be used for working capital.
Vancouver, B.C.-based Capital Alliance operates the CIBT School of Business & Technology, a chain of business and technical schools in China.
| Issuer: | Capital Alliance Group Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1.2 million
|
| Units: | 2,181,818
|
| Price: | C$0.55
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.57
|
| Placement agent: | Non-brokered
|
| Pricing date: | Feb. 20
|
| Stock symbol: | TSX Venture: CPT
|
| Stock price: | C$0.58 at close Feb. 20
|
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