TORONTO, ON–(May 21, 2015) – Lingo Media Corporation (TSX VENTURE: LM) (LMDCF) (“Lingo Media” or the “Company“), an ESL EdTech industry acquisition company, is set to significantly expand its digital English language learning library through a new licensing agreement secured by its subsidiary ELL Technologies. Under the terms of the agreement, the Company will digitize and globally distribute the best-selling general English program in Canada, currently only in print form.
The licensing agreement for the print-based English language learning program called ‘Connecting Doors‘ was signed with Éditions Grand Duc, a division of Groupe Éducalivres Inc., a Canadian publisher and distributor of educational materials. Once digitization of the program is complete, Lingo Media will release it as a subscription-based service under the brand name ‘ELL Campus’ to international markets, initially within Asia and Latin America.
“This is another important milestone in our growth initiative,” says Michael Kraft, President & CEO of Lingo Media. “ELL Campus and our digital language learning portfolio will provide us with an opportunity to significantly expand our markets internationally and increase our recurring revenue base.”
Lingo Media’s state-of-the-art learning management system is a key feature, allowing the company to market and sell ELL Campusdirectly to distributors, academic institutions, governments and corporations.
Its two leading-edge technology tools, Lesson Builder and Course Builder empower educators, enabling them to easily transition from pure classroom, paper-based teaching to the online world. Those who purchase the Company’s programs will be able to easily create, convert, edit, and arrange lessons and courses as they see fit. Lingo Media will retain all rights to user-generated content in order to continuously expand its digital library. Formative assessments and data gathering functionality will further allow the Company to adapt and continuously improve content and program iterations to address any specific problem areas, and ultimately to make the learning experience more accessible, efficient and measurable.
“We are very optimistic about our opportunity to penetrate the Latin American market with our expanded online content combined with our innovative learning platform and technology tools,” says Kraft. “We have already started our market expansion and have entered into advanced discussions with Latin American distributors and end users who see the value in our growing suite of English language learning programs.”
About Lingo Media
(www.lingomedia.com) is an ESL EdTech industry acquisition company that is ‘Changing the way the world learns English‘ combining education with technology. The Company is focused on online and print-based technologies and solutions through its two distinct business units: ELL Technologies and Lingo Learning. ELL Technologies is an emerging international English language learning multi-media, online training and assessment company creating new learning platforms (www.elltechnologies.com). Lingo Learning is a print-based publisher of English language learning 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 is extending its global reach, with an initial market expansion into Latin America and continues to expand its product offerings and technology applications.
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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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