CIM International Group Inc. (CSE: CIM) ('CIM' or the 'Company') announces that, subject to completion of formal documentation, it has reached an agreement in principle (the 'Proposal') with three principle owners of two major shareholders (the 'Major Shareholders') for the return of 39,428,572 shares received by those Major Shareholders in connection with the business combination completed by the Company on April 6, 2016 (the 'Business Combination'), namely 20,571,428 shares held by Shang Titlist Investment Inc. and 18,857,144 shares held by CIM Investment & Development LP (collectively, the 'Subject Shares').

The Subject Shares proposed to be returned approximately represent the value of $10,000,000 ascribed in 2016 to the property interests, including interests in the CIM Development (Markham) LP (the 'Mackenzie Creek LP'), transferred by the Major Shareholders to the Company in the 2016 Business Combination in exchange for shares in the capital of the Company at a value of $0.25 per share. The board of directors of the Company has approved the Proposal based on a recognition that the real estate development project being undertaken by the Mackenzie Creek LP caused cash flow difficulties for the Company and on a recognition that the recent litigation involving the Mackenzie Creek LP may result in the total loss to the Company of its interest in the Mackenzie Creek LP and the underlying real estate project. The Company intends to move forward with the Proposal and will provide additional information as it becomes available. As the Company had pledged interests in the Mackenzie Creek LP as security for $10,000,000 of debentures issued by the Company in 2017 and 2018, the Company may use the Subject Shares or other assets, as security or otherwise, for a possible settlement with the debenture-holders holding those $10,000,000 of debentures. The debentures' next semi-annual interest instalment, calculated at a rate of 13.5% per annum, is payable to debenture-holders of record on December 15, 2019 and aggregates $675,000. The Company is hopeful that a settlement will be reached with the debenture-holders but there is no certainty that such settlement will be achieved. The Company also announces the appointment of Mr. Pascal Attard as the Chief Financial Officer of the Company effective as of December 4, 2019, replacing Mr. Edward Yang, the former Interim Chief Financial Officer of CIM. Mr. Attard was the Chief Financial Officer of Delivra Corp. until November 2019. During that time, Mr. Attard successfully guided that company through the sale of its business. Mr. Attard also held the positions of Vice-President of Finance and Corporate Controller over the course of his four years at Delivra Corp. Prior to joining Delivra Corp., Mr. Attard was the Corporate Controller for Red Tiger Mining Inc. He also held a number of positions at McGovern Hurley LLP from 2006 to 2012, where he most recently served as Manager, Audit and Assurance. Mr. Attard holds a Bachelor of Accountancy, with Honours, from Brock University and holds the designations of Chartered Professional Accountant and Chartered Accountant.

Contact:

Tel: (905) 597-8858

Fax: (905) 597-6885

About CIM International Group Inc.

CIM International Group Inc. is a Canadian company headquartered in the greater Toronto area and is classified on the CSE as a Diversified Industries company engaged in real estate development investment and in mineral resources exploration and development in Canada. The primary focus of the Company is to seek additional attractive residential real estate development opportunities in the Toronto area, mineral resource exploration and development properties in Canada, and other attractive technology based business investment opportunities in Canada on an active and passive ownership basis.

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