TORONTO, April 1, 2015 /CNW/ - IBI Group Inc. (the "Company") (TSX: IBG) announces that the maturity of the $10 million loan advanced by the IBI Group Management Partnership (the "Management Partnership") has been revised to June 30th, 2015.
Subsequent to year-end, the Management Partnership and Board of Directors of the Company agreed to develop a plan, which could convert the loan principal outstanding into common shares of IBI Group Inc. The revised date will provide additional time to finalize the mechanics of the arrangement.
About IBI Group Inc.
The Company is a TSX listed Corporation and trades under the symbol "IBG". IBI Group is a globally integrated architecture, planning, engineering, and technology firm with over 2,700 professionals around the world. For more than 40 years, our dedicated professionals have helped clients create livable, sustainable, and advanced urban environments. We are one of the largest architecture firms in the world, and more than 300 of our staff architects, planners, designers and engineers are LEED accredited.
From high-rises to industrial buildings, schools to state-of-the-art hospitals, transit stations to highways, airports to toll systems, bike lanes to parks, we design every aspect of a truly integrated city for people to live, work, and play.
We organize our expertise into three areas:
- Intelligence: systems designer, software development.
- Buildings: building architecture, building engineering (mechanical, structural, electrical).
- Infrastructure: planning, urban design, landscape architecture, transportation, and engineering.
Our collaborative and combined approach focuses not only on creating the best solutions today, but also creating the right solutions for tomorrow.
We believe cities must be designed with intelligent systems, sustainable buildings, efficient infrastructure, and a human touch.
At IBI, we're defining the cities of tomorrow.
SOURCE IBI Group Inc.
For further information: Scott Stewart, CEO, IBI Group Inc., 55 St. Clair Avenue West, Toronto, ON M4V 2V7, Tel: 416-596-1930; Media: Riyaz Lalani, Bayfield Strategy, Inc., 416-907-9365, [email protected]