CIM International Group Inc. announced that it will seek to raise gross proceeds of up to $5,000,000 in a brokered 'best efforts' private placement by issuing three-year term secured debentures bearing interest calculated at a rate of 13.5% per annum payable semi-annually. The Debentures will be secured pro rata by up to 5,000,000 Class A units of CIM Mackenzie Creek Limited Partnership held by the Company which are redeemable at $1.00 per Class A unit and earn a 20% annual distribution for the period they remain outstanding. The Private Placement is subject to the receipt of all necessary director, shareholder, regulatory and other approvals. Net proceeds of the Private Placement will be used to purchase three-year term secured debentures bearing interest calculated at a rate of 20% per annum payable semi-annually (the "Investment") to be issued by Bayview Creek (CIM) LP which is the beneficial owner of the Bayview Creek residential development project located at 10747 Bayview Avenue, Richmond Hill, Ontario, Canada. This Investment will provide additional interest coverage and assets that will be available to repay the Debentures and interest thereon.