SOURCE: ePals

ePals

October 27, 2011 06:00 ET

Dr. Thomas Middelhoff Joins ePals as Chairman of ePals Europe

WASHINGTON, DC--(Marketwire - Oct 27, 2011) - ePals Corporation (TSX-V: SLN), an education technology company and leading safe social learning network, today announced that Dr. Thomas Middelhoff has joined the Company as Chairman of ePals Europe. It is anticipated that ePals Europe will be formally incorporated as a subsidiary of the Company before year end.

Dr. Middelhoff is currently Managing Partner of Pulse Capital Partners and former Chairman and CEO of media company Bertelsmann AG, where he helped create and build AOL Europe into a business that ultimately sold at a value of US$6 billion. Dr. Middelhoff currently serves on the board of The New York Times, the boards of German companies 3W Power Holdings S.A. and Marseille-Kliniken AG, and as non-executive chairman on the supervisory board of Senator Entertainment AG.

Dr. Middelhoff will focus on building a European-based ePals team, putting in place key content and distribution partnerships and launching local language versions of the ePals Global Community throughout Europe in 2012. The ePals Global Community currently connects millions of classrooms, educators, students and parents around the world in a safe and secure social learning network that combines high-quality content with local, national and international collaborative learning experiences that motivate students and enhance outcomes.

"Education media is a trillion dollar global business just beginning to undergo the same fundamental change that traditional entertainment media companies have already faced as a result of the Internet shifting value to digital products and collaborative environments," said Dr. Middelhoff. "While educational publishers are increasingly adjusting to this reality, a rapidly changing education media market favors companies like ePals that live at the intersection of digital media, cloud computing and project-based learning, and have executives with deep expertise in building community-based digital media companies at scale with new forms of business and financial models that are difficult for traditional media companies to embrace. I look forward to working towards making Europe a centerpiece of ePals' global strategy."

"As a senior executive at AOL during the early growth of the Internet, I worked closely with Thomas in the creation of AOL Europe and have been looking ever since for an opportunity to work with him again in what we both do best -- embrace and build value from the transformation of publishing markets by digital media and collaborative online platforms," said Miles Gilburne, Chairman and CEO of ePals and a former senior executive and board member at AOL. "As ePals moves to systematically build its international businesses in China and now in Europe, it would be difficult to find a more capable and experienced executive to help ensure that European students, teachers and families, as well as European cultures and languages in all their diversity, play an important role in our global learning community."

About ePals Corporation
ePals Corporation (TSX-V: SLN) is an education technology company and the leading provider of safe social learning networks (SLN). Focused on the K-12 market, ePals offers elementary and secondary school administrators, teachers, students and parents worldwide a safe and secure platform for building educational communities, providing quality digital content and facilitating collaboration for effective 21st century learning. ePals' award-winning products include: the ePals Global Community™; SchoolMail®365; LearningSpace®; and In2Books®, a common core eMentoring program that builds reading, writing and critical thinking skills. ePals customers and partners include International Baccalaureate, Microsoft Corporation, Dell Inc., IBM Corp., National Geographic and leading school districts across the United States and globally. ePals serves approximately 700,000 educators and reaches millions of teachers, students and parents in approximately 200 countries and territories. For the ePals Global Community, visit www.epals.com. Corporate information is available at www.corp.epals.com.

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.

Cautionary Statement Regarding Forward-Looking Information:
Certain statements contained in this press release constitute forward-looking information within the meaning of applicable securities laws, including statements with respect the anticipated focus, strategy and prospects of ePals Europe and the composition of its leadership team. These statements relate to future events or future performance. Forward-looking information is necessarily based upon a number of assumptions and factors that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Those assumptions and factors are based on information currently available to the Company. Such material factors and assumptions include, but are not limited to: the Company's ability to execute on its business plan and the successful launch of ePals Europe; the acceptance of the Company's products and services by customers throughout Europe; that ePals Europe will be able to secure distribution partners for sale of the Company's products and services; the sales opportunities available to the Company in Europe; the Company's subjective assessment of the likelihood of success of a sales lead or opportunity; that sales will be completed at or above the Company's estimated margins; that the demand for webhosting and secure email communication in Europe will continue to grow; that the demand for the Company's products and services globally will develop and grow; the receipt of all requisite regulatory approvals throughout Europe for the sale of the Company's products and services and market conditions generally. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. The forward-looking information contained in this press release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:

    Chief Financial Officer
    Aric Holsinger
    ePals Corporation
    Phone: (703) 885-3400

    Senior Marketing Manager
    Jacqueline Van Meter
    ePals Corporation
    Phone: (703) 885-3400

    Investor Relations
    Cory Pala
    E.vestor
    Phone: (416) 657-2400