TORONTO, CANADA and HONG KONG, CHINA--(Marketwire - Aug. 3, 2011) - Lingo Media Corporation (TSXV:LM.V)(Other OTC:LMDCF.PK) ("Lingo Media"), a leader in online and print-based English language learning solutions and the iGroup (Asia Pacific) Limited ("iGroup"), a leading distributor of digital and print research information in the Asia Pacific region with 26 offices spanning 13 countries, are pleased to announce the signing of an agreement that will significantly widen Lingo Media's marketing and distribution reach in 15 Asia Pacific markets.
Under the terms of the agreement, the iGroup will exclusively represent Lingo Media for an initial 3 year term in the marketing and sales of its products and services to students, academics, educators, librarians, research professionals, scientists and institutional customers in healthcare, government, research, and corporate markets in the following countries: Australia, China, Hong Kong, Indonesia, Japan, Korea, Macau, Malaysia, Myanmar, New Zealand, Philippines, Singapore, Taiwan, Thailand, and Vietnam. The Lingo Media products to be sold by iGroup will include those of its wholly-owned subsidiaries ELL Technologies and Parlo, which offer reading, writing and listening along with spoken English solutions.
Michael Kraft, President & CEO of Lingo Media, said: "This wide-ranging agreement with the iGroup, a highly successful company with deep roots in Asia Pacific, represents another significant distribution milestone in our strategy of selling our products globally in partnerships with companies with wide marketing and sales networks. After more than 3 years of product development internally and through external acquisitions, Lingo Media has entered a promising new stage where we are driving revenue. We are confident that this strategic distribution partnership will enhance our top line sales along with a bottom-line for the benefit of our shareholders. This deal with the iGroup follows our recent agreement with Chinese computer giant, Lenovo, to install Lingo software on millions of computers sold in China. We are hitting our distribution milestones to be followed by revenue milestones as we pursue our mission of Changing the Way the World Learns English."
Pote N. Lee, CEO of the iGroup, said: "As the Asia Pacific region continues to develop the world's most advanced information technology, the iGroup is confident that our partnership with the Lingo Media will significantly enhance the range of services we offer to institutions and individuals in the fields of science, medicine, and academia. Lingo Media, a pioneer in the training and teaching of English on-line and by conventional text book publishing in China, understands the needs of our markets. The iGroup's sales and distribution networks are going to significantly broaden the reach of Lingo Media's products as English becomes a pillar of business success in the global economy. This partnership with Lingo Media is a win-win for both companies as we grow our businesses in Asia Pacific."
About The iGroup
For over twenty five years, the iGroup (Asia Pacific) Limited and its subsidiaries have worked with publishers and libraries to bring research information to the desks of academics, students, educators, scientists and research professionals. The iGroup is a leading distributor of print and digital research information in the Asia Pacific region, including books, research databases, ebooks and ejournals with an estimated 1,000 institutional customers. The iGroup consists of several companies prominent in the Asia Pacific information industry with a total staff force of approximately 600 people with 26 offices in 13 countries. It represents many of the world's best publishers, especially those publishing in the science, technology, medical and business fields.
Lingo Media Corporation (www.lingomedia.com) is a diversified online and print-based education products and services company 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 marketed under the Q Group brand (www.elltechnologies.com). Parlo is a fee-based online ELL training and assessment service (www.parlo.com). Speak2Me is a free-to-consumer advertising-based online ELL service in China (www.speak2me.cn). 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 in China and is extending its reach globally.
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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