Broadband Learning in Arbitration Proceedings With i-vu
10 September 2008 - 3:55PM
Marketwired
Broadband Learning Corporation ("Broadband Learning") (TSX VENTURE:
BLC), a participant in the rapidly expanding distance learning
market, reports that yesterday it received a demand for arbitration
from attorneys representing its business partner, i-vu usa inc.
("i-vu") which seeks termination of the Definitive Collaboration
Agreement between Broadband Learning and i-vu. Broadband Learning
denies the basis of this claim and was already in the process of
preparing its own demand for arbitration claiming very significant
monetary damages from i-vu based on i-vu's failure to generate any
revenues to date on this project and its failure to make a number
of payments due to Broadband Learning. The arbitration will proceed
in Utah.
About Broadband Learning Corporation
Broadband Learning Corporation produces, delivers, supports and
manages distance learning content for professionals, corporations
and consumers using proprietary technology and worldwide
distribution capabilities. The Company is addressing the
professional development market by providing a patented
Internet-based learning system with on-demand access, multimedia
educational resources, and administrative management capabilities.
The Company provides wide area network and satellite services
across North America. Broadband University is a brand name used by
the Company's wholly-owned subsidiary Broadband Learning Inc. to
focus on the distance learning markets using patented technology
under a license agreement with School Improvement Network, Inc. of
Salt Lake City, Utah. In 2007, the Company formed a new subsidiary,
BL Media Inc. to undertake the Company's digital media
operations.
This press release may contain forward-looking statements
relating to, among other things, Broadband Learning's expectations
concerning future product demand and growth opportunities and
customer acceptance of its products. These forward-looking
statements are neither promises nor guarantees, but involve risks
and uncertainties that may cause actual results to differ
materially from those in the forward-looking statements. Broadband
Learning disclaims any obligation to publicly update or revise any
such statements.
This news release will not constitute an offer to sell or the
solicitation of any offer to buy the securities in any
jurisdiction. The securities offered will not be and have not been
registered under the United States Securities Act of 1933 and may
not be offered or sold in the United States.
The TSX Venture Exchange has neither approved nor disapproved
the contents of this press release.
Contacts: Broadband Learning Corporation Bob Dameron CEO (801)
290-5066 Website: www.broadbandlearning.com
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