TORONTO, Dec. 13, 2018 – Lingo Media Corporation (TSX-V: LM; OTC: LMDCF) (“Lingo Media” or the “Company”), a global provider of digital and print-based English language learning solutions, is pleased to announce that all matters were approved at the Company’s annual and special shareholders meeting held on December 11, 2018 (the “AGM”) and that the shareholders have re-elected Messrs. Hon. Jerry Grafstein, Robert Martellacci, Martin Bernholtz, Tommy Weibing Gong, and Michael Kraft as directors of the Company. Shareholders also approved the reappointment of RSM Canada, Chartered Professional Accountants as auditors.
The directors held a board meeting subsequent to the AGM and the following changes and appointments were made to management and the board of directors:
- Gali Bar-Ziv has been appointed as President & CEO, from COO, and to the board as a director, to further enhance Lingo Media’s strategies and take the Company through its next phase of development and growth;
- Michael Kraft has accepted the position of Chairman and will remain as an active director supporting both current and new developments of the Company
Gali Bar-Ziv brings more than 15 years of management and entrepreneurial experience, including financing, mergers and acquisitions, strategic planning, channel development and corporate development. Mr. Bar-Ziv profitably grew a sales, marketing and distribution start-up to sales growth of more than 700% year over year. Prior to that, he successfully turned around the largest service division of a $300 Million financial services company. Mr. Bar-Ziv holds a Bachelor of Law (LLB) degree from the University of London and an MBA in Strategic and Entrepreneurial studies from the Schulich School of Business in Toronto.
“The Board is very appreciative of Michael’s contributions in building and enhancing our channel sales strategies, recruiting key talent, leading our transition from print into offering scalable online learning solutions in the evolving global ELL market,” said Gali Bar-Ziv, President & CEO. “We look forward to beginning 2019 with an expanded management team, and ever stronger commitment to delivering value for shareholders.”
The details of the matters approved at the AGM are set forth in Lingo Media’s Information Circular dated November 6, 2018 and posted on SEDAR at www.sedar.com.
About Lingo Media (TSX-V: LM; OTC: LMDCF)
Lingo Media is a global provider of best-in-class digital and print-based English language learning solutions that are ‘Changing the way the world learns English.’
Developed for learners of English at every level, Lingo Media’s ELL Technologies products combine a vast content library with proprietary technology. ELL Technologies’ intuitive dashboards enable students to track and manage their progress, and allow teachers to organize and interact with students, providing ongoing support. Lingo Media’s Lingo Learning division is a print-based publisher of English language learning programs in China.
Lingo Media’s product and program are marketed through established sales channels to key education, government and business organizations in Latin America and China and continues to extend its global reach and expand its product offerings.
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Portions of this press release may include “forward-looking statements” within the meaning of securities laws. These statements are made in reliance upon Sections 21E and 27A of the Securities Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. 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. Lingo Media has tried to identify these forward-looking statements by using words such as “may,” “should,” “expect,” “hope,” “anticipate,” “believe,” “intend,” “plan,” “estimate” and similar expressions. Lingo Media’s expectations, among other things, are dependent upon general economic conditions, the continued and growth in demand for its products, retention of its key management and operating personnel, its need for and availability of additional capital as well as other uncontrollable or unknown factors. No assurance can be given that the actual results will be consistent with the forward-looking statements. Except as otherwise required by US Federal securities laws, Lingo Media undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason. 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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