TORONTO, ONTARIO -- (Marketwired) -- 05/02/16 -- Shang Titlist Investment Inc. ("Shang") announced the acquisition of 20,571,428 common shares (the "Common Shares") of CIM International Group Inc. (formerly, Golden Bridge Development Corporation) (the "Company"), representing approximately 44.59% of the issued and outstanding Common Shares of the Company on a non-diluted basis. The acquisition was effected in connection with the reverse take-over transaction (the "RTO Transaction") involving the Company, CIM Development (Markham) LP ("CIM Development"), CIM Investment Development LP, Global King Inc. and Shang (the three foregoing entities referred collectively as the "Other CIM Parties").
The RTO Transaction, which was effected pursuant to the terms of the securities exchange agreement dated March 7, 2016 between the Company, CIM Development and Other CIM Parties (the "Transaction Agreement"), involved, among other things, the acquisition of 10,000,000 Class A units (collectively, the "Class A Units") of a new limited partnership named CIM Mackenzie Creek Limited Partnership in exchange for 40,000,000 Common Shares issued at a deemed price of $0.25 per Common Share.
The RTO Transaction and matters related thereto are described in detail in the management information circular of the Company dated March 7, 2016 available on SEDAR at www.sedar.com under the Company's profile.
The securities of the Company were acquired as a result of the RTO Transaction for investment purposes. Shang may, depending on market and other conditions, increase or decrease its beneficial ownership of securities of the Company, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.
Contacts:
Xiao Xin Zhang
Shang Titlist Investment Inc.,
c/o CIM Investment & Development LP
9140 Leslie Street, Suite 310
Richmond Hill, Ontario L4B 0A9
zoeyzhang1989@hotmail.com
