Mr. Toby Chu reports

CIBT REPORTS COMPLETION OF FIRST TRANCHE OF NEW PRIVATE PLACEMENT

CIBT Education Group Inc. has closed the first tranche of a private placement, raising approximately $1,357,400 by the issuance of 2,262,333 units at a price of 60 cents per unit. The proceeds from this private placement are intended to be used to provide a fund for school acquisition and expansion. Each unit consists of one common share and one-half of one share purchase warrant, with each whole warrant entitling the holder to purchase one common share for a period of two years at a price of 75 cents. Included in the finders' fees paid in connection with this financing are 350,000 finders' warrants, each finder's warrant exercisable, for a period of two years, for one common share at a price of 75 cents per share. The securities issued in this private placement are subject to a four-month hold period.

With reference to the private placement described in its news release of Jan. 25, 2017, CIBT reports that it incurred a financial advisory fee, which included 66,667 broker warrants, each broker warrant exercisable for one common share at a price of 75 cents per share for a period of one year.

CIBT also reports that, subject to the satisfaction of certain conditions, it has agreed to issue convertible debentures in the aggregate principal sum of $1.5-million. The debentures, which will mature in five years and will bear interest at the rate of 4 per cent per annum, will be convertible by the holders into common shares of CIBT at a price of 79 cents per share. The debentures will also be convertible by CIBT upon the achievement of a specified milestone. The proposed issuance of the convertible debentures is related to the proposed acquisition of a group of 18 schools located in Vancouver and Toronto.

About CIBT Education Group Inc.

CIBT Education Group 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 centres, and corporate offices at 34 locations in Canada and abroad. Total annual enrolment for the group exceeds 8,000 students. Through these schools, CIBT offers business and management programs in health care, hotel management and language training, and over 150 career and vocational programs.