|By Marketwired .||
|November 26, 2012 07:51 PM EST||
TORONTO, ONTARIO -- (Marketwire) -- 11/27/12 -- 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, announces that its board of directors has approved the grant of 980,000 incentive stock options to officers, employees, directors and consultants of the Company. The options have an exercise price of $0.24 per share and will vest quarterly over 12 months to 18 months from the grant date and have a term of 5 years. The incentive stock options issued to senior officers of Lingo Media will have additional vesting provisions as the option grants will be tied to EBITDA performance of the Company. Lingo Media last granted stock options to its officers, employees, directors and consultants in February 2011.
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 on an international scale through its four distinct business units: ELL Technologies; Parlo; Speak2Me; and Lingo Learning. ELL Technologies is a globally-established English language multi-media and online training company marketed under the Q Group brand (www.elltechnologies.com). Parlo is a fee-based online English language training and assessment service (www.parlo.com). Speak2Me is a free-to-consumer advertising-based online English language learning service in China (www.speak2me.cn). 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 continues to expand its English language learning 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.
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