TORONTO, ONTARIO–(Aug. 2, 2013) – Lingo Media Corporation (TSX VENTURE:LM)(OTCBB:LMDCF) (“Lingo Media” or the “Company“), an ESL industry acquisition company that is ‘Changing the way the world learns English’, is pleased to welcome two new directors, Mohamed El Ammawy and Martin Bernholtz, to its Board of Directors. At the Company’s annual and general meeting of shareholders (the “AGM“) held in Toronto on August 1, 2013, shareholders re-elected Messrs. Jerry Grafstein, Michael Kraft, Scott Remborg and Tommy Weibing Gong as board directors. Anton Telegin did not stand for re-election and Lingo Media wishes to thank him for his time, efforts and support during his term as a director.
Mohamed El Ammawy is the Chief Commercial Officer for Orascom Telecom (“OTH“). Mohamed oversees the commercial functions within OTH and Vimpelcom’s BU Asia and Africa covering market development, data & product development, sales, public relations, market planning & pricing as well as customer operations. Mohamed has more than 15 years of commercial and management experience, of which 13 are in the telecom industry. He joined the commercial team of OTH nine years ago; contributed to the success of OTH and participated in the growth of many operators within the group. During his tenure, he achieved and delivered many challenging targets in the markets of Pakistan, Algeria, Egypt, Bangladesh, Tunisia, North Korea, and Canada. Prior to joining OTH, Mohamed held different marketing positions at Vodafone Egypt for more than four years. At the onset of his career, he held various marketing & advertising positions at Coca-Cola Egypt. Mohamed holds a Master’s degree in Business Administration from ESLSCA Business School in Paris, majoring in International Marketing and a Bachelor degree in Accounting from Ain Shams University in Cairo.
Martin Bernholtz, BBA, CA is the Chief Financial Officer of Kerbel Group Inc. since 1988, an integrated construction and land development company. In this capacity, he is responsible for strategy, finance, accounting, taxation and personnel. Mr. Bernholtz has considerable sophisticated business experience in real estate, finance and public markets. Mr. Bernholtz graduated with a Bachelor degree in Business Administration from York University in 1981 and became a Chartered Accountant in 1984. While in practice at Laventhol & Horwath and at BDO Dunwoody he gained considerable experience in the business valuation and litigation support areas.
In addition, shareholders also approved the reappointment of Collins Barrow Toronto LLP, Chartered Accountants as auditors.
The details of the matters approved at the AGM are set forth in Lingo Media’s Information Circular dated June 27, 2013 and posted on SEDAR at www.sedar.com.
The directors held a board meeting following the AGM and reappointed Michael Kraft as President & CEO, Khurram Qureshi as Chief Financial Officer and Gali Bar-Ziv as Chief Operating Officer.
About Lingo Media (TSX VENTURE:LM)(OTCBB:LMDCF)
Lingo Media Corporation (www.lingomedia.com) is an ESL industry acquisition company that is ‘Changing the way the world learns English’, focused on English language learning (“ELL”) on an international scale through its four distinct business units: ELL Technologies; Parlo; Speak2Me; and Lingo Learning. ELL Technologies is a globally-established ELL multi-media and online training company. Parlo is a fee-based online ELL training and assessment service. Speak2Me is a free-to-consumer advertising-based online ELL service in China. Lingo Learning is a print-based publisher of ELL programs in China. Lingo Media has formed successful relationships with key government and industry organizations, establishing a strong presence in China’s education market of more than 300 million students. The Company continues to expand its ELL offerings and is extending its reach globally.
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Portions of this press release may include “forward-looking statements” within the meaning of securities laws. Forward-looking statements contained in this press release are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and involve certain risks and uncertainties. Actual results may vary materially from management’s expectations and projections and thus readers should not place undue reliance on forward-looking statements. Certain factors that can affect the Company’s ability to achieve projected results are described in the Company’s filings with the Canadian and United States securities regulators available on www.sedar.com or www.sec.gov/edgar.shtml.
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