Parlo Signs Interim Joint Venture With Lion King Education
Toronto, Canada, December 3, 2009 – Lingo Media Corporation (TSX-V: LM; OTC BB: LMDCF) ("Lingo Media") a leader in online and print-based English language learning (“ELL”) products is pleased to announce that its wholly-owned subsidiary, Parlo Corporation ("Parlo"), a training and assessment platform, has signed an interim joint venture partnership agreement (“Interim Agreement”) with Lion King (International) Education Group (“LKE”) to jointly launch training and assessment services in China.
LKE and Parlo are jointly developing and marketing an English language training and assessment solution aimed at the adult market in China. The joint venture plans to market, launch and distribute its product line of English training materials from our solo Beijing-based model training center and then through LKE’s 80 schools in 30 cities across China starting in Spring 2010. The Interim Agreement is subject to LKE and Parlo entering into a formal agreement relating to the joint venture.
"Lion King's deep experience and strong relationships in China's training and education industry make them the ideal partner for Parlo in China," said Michael Kraft, President & CEO of Lingo Media. "Parlo’s ability to create custom training materials which are effective, engaging and scalable, combined with Lion King's local market expertise and chain of training centers makes for a winning partnership”.
Zhang Jianchun, Founder & President of LKE said, “Parlo's customized lessons create an effective online practice platform that allows users to repeat the English phrases that are essential to their work. They can do this on their own time, at their own pace, 24 hours a day, seven days a week."
Gali Bar-Ziv, Chief Operating Officer of Lingo Media added, “We have been working closely with Lion King to develop and deliver customized English language training solutions for their customer base. We recognized, as did Lion King, that a deeper partnership would give us the ability to tap into further market segments, bringing the Parlo solution to a much wider audience. In the past 15 years, Lion King has provided English language training to over 100 million Chinese – we are excited to be in a position to help train the next 100 million.”