Lingo Media Plans to File a Form 15F to Deregister in the US Under the 1934 Securities Exchange Act
Lingo Media Corporation (TSX-V: LM; OTC: LMDCF) announced its plan to file a Form 15F with the SEC to deregister all classes of its registered securities. This move aims to reduce administrative and compliance costs, suspending its reporting obligations under the Exchange Act. The termination of these obligations is expected to finalize 90 days post-filing, contingent on SEC's feedback. Despite this deregistration, Lingo Media will continue to publish periodic reports and results on SEDAR and its website, maintaining transparency with its stakeholders.
- Reduction in administrative burden and compliance costs.
- Termination of registration may limit access to U.S. capital markets.
TORONTO, Nov. 5, 2021 /PRNewswire/ - Lingo Media Corporation (TSX-V: LM) (OTC: LMDCF) (FSE: LIMA) ("Lingo Media") an EdTech company that is 'Building a multilingual world' through innovative online and print-based technologies and solutions, announces its intention to file a Form 15F with the U.S. Securities and Exchange Commission ("SEC") to terminate the registration of all classes of its registered securities under Section 12(g) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), as well as to terminate its reporting obligations under the Exchange Act. As a result of filing the Form 15F, Lingo Media's obligations to file reports under the Exchange Act will be suspended immediately and are expected to terminate 90 days after the filing, barring any objection by the SEC.
Lingo Media is undertaking this filing to reduce administrative burden and compliance costs and intends to continue to publish its periodic reports, annual and interim results and communications as required by applicable law on SEDAR and its website at http://www.lingomedia.com.
About Lingo Media (TSX-V:LM; OTC:LMDCF; FSE:LIMA)
Lingo Media is a global EdTech company that is 'Building a multilingual world', developing and marketing products for learners of new languages through various life stages, from classroom to boardroom. By integrating education and technology, the company empowers 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 Ltd., d/b/a Everybody Loves Languages and Lingo Learning Inc. Everybody Loves Languages provides online training and assessment for 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 presence in Latin America, China and the U.S., 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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SOURCE Lingo Media Corporation
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