Lingo Media Provides Update on Merger With Schoold

/EINPresswire.com/ -- TORONTO, ON--(Marketwired - June 06, 2017) - Lingo Media Corporation (TSX VENTURE: LM) (OTCQB: LMDCF) ("Lingo Media" or the "Company"), an EdTech company that is Changing the way the world learns English through innovative online and print-based technologies and solutions, is pleased to announce that the Company and Vested Finance, Inc., the developer and operator of the leading, mobile college marketplace app in the US, Schoold ("Schoold"), have agreed to extend the term of their previously announced letter of intent ("LOI") regarding a business combination between Lingo Media and Schoold (the "Transaction") until June 30, 2017. The extension is required to provide sufficient time to complete the audited financial statements of Schoold, to complete due diligence by both parties, and for the negotiation of a final definitive agreement between the parties.

As disclosed in the press release of March 23, 2017, the parties are working towards finalizing a definitive agreement with respect to the Transaction, which is anticipated to be a merger of equals in which shareholders of each party will acquire 50% of the resulting entity. Upon completion and execution of a definitive transaction agreement, Lingo Media will issue a subsequent press release containing more specific details of the Transaction, including a private placement financing to be completed concurrently with the closing of the Transaction.

About Schoold

Schoold is the leading mobile app for getting trusted advice on applying to university in the United States. With over one million served and thousands of rave reviews, the Schoold app functions as a higher education marketplace, connecting prospective students with colleges and universities. Recognized by U.S. News & World Report as a "must-have" app for international students, Schoold is democratizing access to higher education and helping students everywhere get smart about investing in their future. Schoold is available worldwide on iPhone, Android, and Kindle devices. Schoold is proudly built by Vested Finance, Inc., in San Francisco, California.

To learn more, visit us on the web and download at the app store.

Follow Schoold on:

Instagram: https://www.instagram.com/schoold_app/
LinkedIn: https://www.linkedin.com/schoold/
Facebook: https://www.facebook.com/SchooldApp/
Twitter: https://twitter.com/schooldapp
Snapchat: @schoold_app

About Lingo Media (TSX VENTURE: LM) (OTCQB: LMDCF)

Lingo Media is a global EdTech company that is 'Changing the way the world learns English', developing and marketing products for learners of English through various life stages, from classroom to boardroom. By integrating education and technology, the company empowers English language educators to easily transition from traditional teaching methods to digital learning.

Lingo Media provides both online and print-based solutions through two distinct business units: ELL Technologies and Lingo Learning. ELL Technologies provides online training and assessment for English language learning, while Lingo Learning is a print-based publisher of English language learning programs in China.

Lingo Media has established successful relationships with key government and industry organizations internationally, with a particularly strong presence in Latin America and China, and continues to both extend its global reach and expand its product offerings.

Follow Lingo Media On:

Facebook: https://www.facebook.com/LingoMedia
Twitter: https://twitter.com/LingoMediaCorp
YouTube: https://www.youtube.com/lingomedialm
LinkedIn: https://www.linkedin.com/company/lingo-media-corporation
RSS: http://feeds.feedburner.com/LingoMedia

Portions of this press release may include "forward-looking statements" within the meaning of securities laws. These statements are made in reliance upon Sections 21E and 27A of the Securities Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. 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. Lingo Media has tried to identify these forward-looking statements by using words such as "may," "should," "expect," "hope," "anticipate," "believe," "intend," "plan," "estimate" and similar expressions. Lingo Media's expectations, among other things, are dependent upon general economic conditions, the continued and growth in demand for its products, retention of its key management and operating personnel, its need for and availability of additional capital as well as other uncontrollable or unknown factors. No assurance can be given that the actual results will be consistent with the forward-looking statements. Except as otherwise required by US Federal securities laws, Lingo Media undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason. 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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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