Loyalist Appoints Sung Lim as Chief Operating Officer
09 April 2014 - 3:01PM
Marketwired
Loyalist Appoints Sung Lim as Chief Operating Officer
TORONTO, ONTARIO--(Marketwired - Apr 9, 2014) - Loyalist Group
Limited ("Loyalist" or the "Company") (TSX-VENTURE:LOY) is pleased
to announce that it has appointed Sung Lim as Chief Operating
Officer of the Company. Mr. Lim was the founder of King George
International College ("KGIC"), an accredited and licensed
English-as-a-second-language (ESL) school and King George
International Business College ("KGIBC"), a registered career
college in Toronto, Vancouver, and Victoria, both of which were
previously acquired by Loyalist.
"Mr. Lim joined Loyalist when KGIC and KGIBC were acquired from
CIBT in September 2013 and has proven to be an active and astute
operational business partner for Loyalist", stated Loyalist Chief
Executive Officer Andrew Ryu. "We are most fortunate to have
someone of Mr. Lim's skill set, with a long history of successful
operations in the ESL sector, within the Loyalist family. This
appointment is consistent with our consolidation strategy as it
allows us to centralize responsibility for numerous operations
under a single individual within our organizational structure".
Loyalist is also pleased to announce that it has added an
additional 40 beds to its existing housing portfolio for occupancy
starting in May 2014, bringing the total number of beds to 164.
About Loyalist
Loyalist Group Limited owns and operates private English as a
Second Language (ESL) Schools, Career Colleges and Community
Colleges in Toronto, Vancouver, Victoria and Halifax.
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.
Forward-Looking Statements
This news release includes certain forward-looking statements
within the meaning of Canadian securities laws. Such
forward-looking information and statements are not representative
of historical facts or information or current condition, but
instead represent only the Company's beliefs regarding future
events, plans or objectives, many of which, by their nature, are
inherently uncertain and outside of the Company's control.
Generally, such forward-looking information or statements can be
identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or may contain statements that certain actions, events
or results "may", "could", "would", "might" or "will be taken,
"will continue", "will occur" or "will be achieved". The
forward-looking information contained herein includes information
relating to the Company's management team and its housing
portfolio. By identifying such information and statements in this
manner, the Company is alerting the reader that such information
and statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
information and statements.
Any number of important factors could cause actual results to
differ materially from these forward-looking statements as well as
future results, including but not limited to: risks related to any
of the Company's announced or proposed acquisitions failing to
close or becoming delayed before closing; the Company 's reliance
on its South Korean contract; carrying on business and activities
in international jurisdiction where Canadian laws do not apply; any
loss of certain key personnel; levels of student enrolment; delays
in rolling out the online education programs; competition in the
educational services market; and currency fluctuations. Although
the Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
the forward-looking information and statements, there may be other
factors that cause results not to be as anticipated, estimated or
intended. Although the Company believes that the assumptions and
factors used in preparing, and the expectations contained in, the
forward-looking information and statements are reasonable, undue
reliance should not be placed on such information and statements,
and no assurance or guarantee can be given that such
forward-looking information and statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such information and
statements. Accordingly, readers should not place undue reliance on
any forward-looking information or statements contained in this
press release. The forward-looking information contained in this
press release is made as of the date hereof, and the Company does
not undertake to update any forward-looking information that is
contained or referenced herein, whether as a result of new
information, future events or otherwise, except in accordance with
applicable securities laws. All subsequent written and oral forward
looking information and statements attributable to the Company or
persons acting on its behalf is expressly qualified in its entirety
by this notice.
Loyalist Group LimitedAndrew RyuCEO(416)
969-9800aryu@loyalistgroup.comLoyalist Group LimitedDavid McAdamVP
Corporate Development(604) 336-3316dmcadam@loyalistgroup.com
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