SOURCE: Serebra Learning Corporation

April 15, 2008 18:03 ET

Serebra Completes Rights Offering

VANCOUVER, BC--(Marketwire - April 15, 2008) - Serebra Learning Corporation (TSX-V: SLC), a leading e-learning provider, announced today that it has completed its previously announced rights offering. 3,265,328 units of Serebra were subscribed under the offering at a price of $0.30 per unit for proceeds of $979,598.40, resulting in the issuance of 3,265,328 common shares and 3,265,328 warrants.

Each unit is comprised of one common share and one non-transferable share purchase warrant (a "warrant"). Each warrant entitles the holder to purchase an additional common share at an exercise price of $0.50 per share beginning on April 9, 2009 until April 9, 2010.

Pursuant to the standby guarantee agreement between Serebra and Bolder Investment Partners, Ltd. ("Bolder"), Bolder has purchased 268,129 units, being those units available to be purchased under the rights offering but not otherwise subscribed, for additional gross proceeds of $80,438.70, resulting in the issuance of an additional 268,129 common shares and 268,129 warrants.

As consideration for providing the standby guarantee, Bolder received guarantee warrants from Serebra in the form of share purchase warrants, entitling Bolder to acquire up to 875,000 common shares. The guarantee warrants are non-transferable, have an exercise price of $0.30 per common share and will expire March 6, 2009.

The aggregate net proceeds of the rights offering after deducting costs and expenses is approximately $960,037. Serebra will use the net proceeds to continue the marketing of Serebra Connect and for general working capital.

SEREBRA LEARNING CORPORATION

Ted Moorhouse
Chairman & CEO

About Serebra Learning Corporation

Serebra Learning Corporation has a 21-year track record using the latest technology to deliver innovative personal and professional development courses to individuals and companies worldwide. Through easyLearning (www.easylearning.org), Serebra helps people in developing nations gain valuable skills and qualifications. Through Serebra Connect (www.serebraconnect.com), Serebra provides easyLearning students, and other qualified individuals, with access to jobs. Shop Serebra Connect (http://shop.serebraconnect.com) lets Serebra Connect users upgrade their skills and accredit their existing education. For more information about Serebra, visit www.serebra.com or call 800 567-7766.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • For further information, please contact:

    Ted Moorhouse
    Chairman & CEO
    Serebra Learning Corporation

    Telephone: (604) 676-5480
    Facsimile: (604) 676-5490
    Toll Free: 1-800-567-7766
    Email: Email Contact

    Serebra Learning Corporation
    Suite 600 - 1188 West Georgia Street
    Vancouver, BC
    Canada V6E 4A2
    Telephone: (604) 676-5480
    Facsimile: (604) 676-5490
    Toll Free: 1-800-567-7766
    www.serebra.com