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Lingo Media's ELL Technologies Announces Sales Contract With Panama's Leading Multimedia Publishing House La Prensa(February 28, 2012)
TORONTO, ONTARIO -- (Marketwire) -- 02/28/12 -- Lingo Media Corporation (TSX VENTURE:LM)(OTCBB:LMDCF) ("Lingo Media" or the "Company") a leader in online and print-based English language learning solutions is pleased to announce that its wholly-owned subsidiary, ELL Technologies Limited ("ELL Technologies") has signed a contract with Corporation La Prensa, S.A. ("La Prensa"), a leading multimedia publishing house in the development and dissemination of content, products and services in Panama. La Prensa's main activity is the publication, distribution and sale of newspapers, La Prensa and Mi Diario.
Under the contract, La Prensa is purchasing the full package of Q English Online including Basic, Intermediate and Advanced courses. The initial order under the contract is for 10,000 sets of licenses and the access to the courses is available through La Prensa's website via scratch cards distributed at a retail level.
Michael Kraft, President & CEO of Lingo Media, said: "La Prensa is the leading morning independent daily and is an exciting opportunity for us to enter the Panama market. This contract provides us with an endorsement for our Q English Online courses with an industry leader and will undoubtedly assist La Presna in expanding their readership and increasing their advertising revenues."
About ELL Technologies Limited
ELL Technologies Limited markets and sells its products under the Q Group brand. ELL Technologies specializes in the development, production, and marketing of innovative solutions for learners of English as a Foreign Language (EFL) and English as a Second Language (ESL). ELL Technologies' commitment to academic and technological excellence has led to many successful alliances with learning institutions, language schools, ministries of education, leading publishers and professional e-learning organizations across the globe. ELL Technologies is a global developer of English language learning multimedia solutions for corporate, institutional, and retail markets.
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 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 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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Lingo Media Corporation
President & CEO
(416) 927-7000 Ext. 23 or Toll Free: (866) 927-7011
(416) 927-1222 (FAX)
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