TORONTO, ONTARIO--(Marketwire - March 15, 2012) - 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 Intel Corp., a company that provides educational programs developed by highly trained professionals that contribute to the intellectual and emotional development of children, youth and adults in Colombia.
Under the contract, Intel Corp. will purchase Q English CD's to be marketed and sold through their direct-to-consumer channel, supported by their 100 strong agent-based sales force.
Michael Kraft, President & CEO of Lingo Media, said: "This is our initial cooperation with Intel Corp. and their leading direct-to-consumer distribution network for educational products in Colombia. We plan to expand this relationship and extend our range of English language learning software titles to Intel Corp.'s direct distribution channel. This deal expands our business in Colombia beyond our existing contracts in the insurance and university/college sectors."
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.
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.NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.