ePals Corporation (TSXV:SLN) Begins Trading on TSX Venture Exchange - Video Summary of Company Posted on www.InvestmentPitch.com
Vancouver, British Columbia, August 15, 2011 - ePals Corporation (TSXV:SLN) is one of the latest new listings on the TSX Venture Exchange, as a result of a qualifying transaction with capital pool company "New University".
Prior to closing the transaction, Cormark Securities acted as the agent on a private placement of approximately 40 million subscription receipts at $0.64, for aggregate gross proceeds of $23 million.
ePals is a leading global learning network for primary and secondary schools, classrooms, educators, students and parents. Similar to a LinkedIn for education, the company focuses on primary and secondary schools and audiences, and serves a global community consisting of more than 700,000 educators and reaching millions of teachers, students and parents in approximately 200 countries and territories.
The global scale of ePals network provides an unprecedented ability to connect classrooms around the corner and around the globe. ePals has partnered with market leaders such as Microsoft, Dell and IBM, to deliver products and services in a cloud hosted manner, accessible through any of the web and mobile browsers.
ePal's current Platform Business products are branded SchoolMail®365 and LearningSpace(TM).
SchoolMail®365 enables schools to easily deploy safe email for staff, students and parents, and is currently deployed within the City of New York.
LearningSpace(TM) offers a safe virtual workspace and community which is used in more than 2,800 schools worldwide.
The company generates revenue from its Platform Business by selling these services on a recurring subscription per student per year model.
Its current Media Business Products are the ePals Global Community(TM) and In2Books®.
ePals Global Community(TM) is the world's largest network of classrooms enabling students, teachers and parents to safely connect and collaborate with classrooms locally, nationally and around the world. Offered at no cost, individuals from around the world can freely join the ePals' Global Community(TM), create profiles and classroom memberships introducing their classrooms to others from around the world, participate in discussions, find and share products, practice language skills, take part in educational contests, and explore quality content from leading providers such as National Geographic.
In2Books® is ePals' flagship literacy product. This curriculum-based, e-Mentoring application, built on the ePals' platform, pairs students in grades 3-6 with carefully screened volunteer adult mentors in a safe, online environment for shared reading and writing.
The company generates revenue from its Media Business products by monetizing user traffic through E-commerce, sponsorship, appropriate advertising and premium fees.
The company has approximately 67 million shares outstanding, with about 46 million of those shares restricted.
For more information on ePals, please visit their website at www.epals.com or phone 703-885-3400.
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Barry Morgan, CFO
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Source: InvestmentPitch via Thomson Reuters ONE