SOURCE: ePals

ePals

August 08, 2011 15:14 ET

ePals Corporation Announces Commencement of Trading on August 9, 2011

HERNDON, VA--(Marketwire - Aug 8, 2011) - ePals Corporation (TSX-V: SLN) (the "Corporation") (formerly New University Holdings Corp.) (TSX-V: NUH.P) is pleased to announce that further to its press release dated July 27, 2011 (the "Prior Press Release") announcing the completion of its qualifying transaction (the "Transaction"), the Corporation received final TSX Venture Exchange ("TSX-V") acceptance in respect of the Transaction. Trading in the common shares of the Corporation on Tier 1 of the TSX-V will commence on Tuesday, August 9, 2011 under the trading symbol "SLN."

The Prior Press Release indicated, among other things, that (i) former shareholders of ePals, Inc. ("ePals") who were U.S. residents and were "accredited investors" received a combination of voting common shares and restricted voting common shares of the Corporation for their ePals shares; (ii) former shareholders of ePals who were not U.S. residents received voting common shares of the Corporation for their ePals shares; and (iii) following the completion of the Transaction, there were 67,391,502 voting common shares of the Corporation outstanding, 27,528,056 of which were held by former shareholders of ePals, and 43,646,730 restricted voting common shares of the Corporation, all of which were held by former shareholders of ePals. Since the date of the Prior Press Release, further information on the jurisdiction of residence of certain holders of ePals shares has come to the attention of the Corporation. Accordingly, as of the date hereof, there are 67,469,950 voting common shares of the Corporation outstanding, 27,606,504 of which are held by former shareholders of ePals, and 43,568,282 restricted voting common shares of the Corporation outstanding, all of which are held by former shareholders of ePals.

About ePals Corporation

ePals Corporation (TSX-V: SLN) is an education technology company and leading safe social learning network (SLN). Focused on the K-12 market, ePals offers primary and secondary schools, 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 curriculum-based e-mentoring 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-V, nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) has in any way passed upon the merits of the Transaction and neither of the foregoing entities has in any way approved or disapproved of the contents of this press release.

Contact Information

  • Further Information
    For further information, please contact:

    Aric Holsinger
    Chief Financial Officer
    ePals Corporation
    Tel: 703.885.3400