TORONTO, ONTARIO — (Marketwire) — 12/09/11 — Lingo Media Corporation (TSX VENTURE: LM)(OTCBB: LMDCF) (“Lingo Media” or the “Company”), an ESL industry acquisition company that is Changing the way the world learns English, is pleased to welcome two new directors Anton Telegin and Michael Stein to its Board of Directors. At the Company-s annual and special meeting of shareholders (the “Meeting”) held in Toronto on December 8, 2011, the shareholders re-elected Anthony Lacavera, Ashesh Shah, Jerry Grafstein, Michael Kraft, Michael O-Connor, Scott Remborg, and Tommy Gong as board directors. Sanjay Joshi and Ashraf Halim did not stand for re-election and Lingo Media wishes to thank them for their support and contributions to Lingo Media during their terms as board directors.
Anton Telegin is the Chief Commercial Officer for Orascom Telecom and VimpelCom-s Asia & Africa Business Units. The combination of the two companies in April 2011 has made it the 6th largest mobile telecom provider in the world. Mr. Telegin oversees all the commercial functions within Orascom and VimpelCom-s Asia & Africa Business Units encompassing market development, product development, commercial roaming & international business, market planning & pricing, as well as enterprise & customer operations. He has a commercial expertise gained from over 16 years of experience in the telecom industry where he led the successful launch of various high quality innovative commercial products yielding multi-billion dollar revenue streams and built a proven track record in driving regional operations from start-ups to market leadership. Mr. Telegin holds an Engineering Degree from the Moscow State Technical University in Russia and an MBA from Kingston University in the UK.
Michael Stein acts as a financial consultant and advises clients on various matters, including acquisitions, divestitures, corporate financings, re-organizations and restructurings. He is the President of Applied Inventions Management Inc., and a former director and V.P. Corporate Affairs of Danbel Industries Corporation; Director, U.S. Money Markets for a federally chartered Canadian Trust Company and prior thereto a Senior Institutional Money Banker for a Savings & Loan Association in Long Beach, California. Mr. Stein majored in economics and graduated with a Bachelor of Arts from York University.
In addition, shareholders also approved the following:
More specific details of the matters approved at the Meeting are set forth in Lingo Media-s Information Circular dated November 9, 2011 and posted on SEDAR at .
In addition, Khurram Qureshi, CA, has been re-appointed as Chief Financial Officer of Lingo Media. He brings over 22 years experience in the field of accounting and corporate finance. He qualified as a Chartered Accountant in 1990 and has held senior positions with several small to medium size public companies. Mr. Qureshi has been a key member on several merger and acquisition teams. The Company thanks Ryan Robertson for his contributions as Chief Financial Officer and wishes him continued success in his future endeavours.
About Lingo Media (TSX VENTURE: LM)(OTCBB: LMDCF)
Lingo Media Corporation () 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 (). Parlo is a fee-based online ELL training and assessment service (). Speak2Me is a free-to-consumer advertising-based online ELL service in China (). 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 or .
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.
Contacts:
Lingo Media Corporation
Michael Kraft
President & CEO
(416) 927-7000 Ext. 23 or Toll Free: (866) 927-7011
(416) 927-1222 (FAX)
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