OREANDA-NEWS.  CIC Capital Fund Ltd ("CIC or Company") is pleased to advise that the Company has raised by subscription RMB9.2 million or CAD\$1.86 million by unrelated investors in China. The subscription funds have been received by the Company.

Further commitment of RMB38 million or CAD\$7.68 million by subscription has been concluded with proceeds to be released subject to confirmation by the Company's legal advisors of re-listing of the company on a designated exchange. The placement funds are to be used as working capital and to provide venture capital.