Broadband Learning Corporation Acquires Rehab Training Network Video Library, Appoints New CFO and Two Operating Officers, Grants Options.SALT LAKE CITY -- Broadband Learning Corporation ("Broadband Learning") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:BLC BLC Boston Library Consortium BLC Bethany Lutheran College (Minnesota) BLC Back Light Compensation (video cameras) BLC Belo Corporation (stock symbol) BLC Broadband Loop Carrier ), a leader in distance learning, is pleased to announce that it has entered into an agreement with Christine Rohe Martier to acquire the Rehab Training Network Video Library (the "Video Library") consisting of over 150 titles representing approximately 600 hours including a Nursing Training Library, a Rehabilitation Training Library and a Motivational Training Library (including associated workbooks, photographs and marketing materials). Broadband Learning is paying US$600,000 to Christine Rohe Martier for the Video Library, consisting entirely of common shares of Broadband Learning Corporation issued at a price of C$0.30 per common share. The shares are subject to any sale restrictions imposed by the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. . Broadband Learning is also pleased to announce the following appointments: Byrne C. Hopkin, CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. , has been appointed as Broadband Learning's CFO See Chief Financial Officer. , replacing Michael Ben who was acting on an interim basis. For over 20 years Byrne has worked in finance, accounting and management of Bonneville International Corporation, a major US media company. Most recently he was the Vice President of Finance for Bonneville Intermountain Radio, a division of Bonneville operating 15 radio stations. Previously he was the Vice President/Controller for that company. Byrne played an integral role in the acquisition and divestiture of radio stations as the US FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S. rules allowed increased concentration of ownership in markets. He is experienced in designing financial systems that maximize operations and is a member of the American Institute of Certified Public Accountants With over 330,525 CPA members (in August 2006), the American Institute of Certified Public Accountants (AICPA) is the largest professional organization of Certified Public Accountants (CPAs) in the United States of America. (AICPA AICPA See American Institute of Certified Public Accountants (AICPA). ) and the Utah Association of Certified Public Accountants (UACPA UACPA Utah Association of Certified Public Accountants UACPA Unaccompanied Alien Child Protection Act ). Byrne has served in various capacities in educational organizations of the UACPA and Broadcast Cable Financial Managers (BCFM BCFM Bachelor of Computing and Financial Management (University of Waterloo) BCFM Broadcast Cable Financial Management Association, Inc. (formerly Broadcast Financial Management Association) ), and has held a seat on the Board of Directors of the BCFM. He graduated cum laude from the Marriott School of Management The Marriott School of Management is located at Brigham Young University, the second largest private university in the United States. The school has nationally recognized programs in accounting [1] at Brigham Young University Brigham Young University, at Provo, Utah; Latter-Day Saints; coeducational; opened as an academy in 1875 and became a university in 1903. It is noted for its law and business schools. with a Bachelor of Science Noun 1. Bachelor of Science - a bachelor's degree in science BS, SB bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies degree in accounting and finance. Jack Crutchfield has been appointed Vice President of Sales at Broadband Learning's operating subsidiary, Broadband Learning Inc. Jack has been an industry leader in Business TV and Distance Learning applications for satellite communications since 1981. He has held sales positions for Bonneville Satellite (now known as Globecast), and as Vice President for Williams Global Access, Loral and Vista Satellite Communications. His background includes acquisition of collegiate curriculum and educational materials for McGraw-Hill. Jack has overseen the successful sale, installation, management, and operation of some of the most intensively used corporate satellite distance learning and corporate communications networks in North America and around the world. Jack is recognized by corporate communications professionals at many of the Fortune 500 as the source to turn to for expertise and management of their distance learning and corporate broadcast requirements. Jack is a graduate of Amherst College and is a member of the Society of Satellite Professionals and numerous other professional societies. In his position at Broadband Learning, Jack is based in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . Christine Rohe Martier has been appointed Vice President of Business Development and Strategy at Broadband Learning's operating subsidiary, Broadband Learning Inc. Christine is a pioneer in distance learning, and her accomplishments include: - Ernst and Young Entrepreneur of the Year award winner, - Negotiating distribution of proprietary content on various multimedia channels, - Facilitating partnership agreements with professional associations, television talent, political leaders and healthcare organizations, and - Producing over 300 accredited accredited recognition by an appropriate authority that the performance of a particular institution has satisfied a prestated set of criteria. accredited herds cattle herds which have achieved a low level of reactors to, e.g. continuing professional education seminars. Christine is a former principal of Rehab Training Network, a highly successful Nursing and rehabilitation practitioner training organization that has trained over 100,000 licensed healthcare professionals. Broadband Learning has also granted options to these new employees, to Investor Cubed Business Development Corporation (its investor relations Investor relations The process by which the corporation communicates with its investors. firm, as disclosed in a press release dated March 10, 2006) and to directors that were not included in the option grants at the time of the Qualifying Transaction, as follows (subject to TSX Venture Exchange approval): Byrne C. Hopkin 100,000 Jack Crutchfield 50,000 Christine Rohe Martier 50,000 David Molinaro 25,000 David Peterson 100,000 Andy Wilson 100,000 John Yarnell 100,000 Investor Cubed Business Development Corporation 255,000 All of these 780,000 options were issued on the same terms as the options issued at the time of the qualifying transaction, being an exercise price of C$0.30 per share, expiry 5 years after the date of grant, and subject to vesting conditions. Following this option grant, a total of 151,704 options remain unissued and reserved for future issue. "We are pleased with the addition of such experienced management as Byrne, Jack and Christine and with the acquisition of the Rehab Training Network Video Library that was developed by Christine" said Ed Giles, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Broadband Learning Corporation. "It has been our intention all along to move the CFO function to Salt Lake City, which is the primary site of our operations. The further strengthening of our sales and business development roles also bodes well for Broadband Learning's revenue growth. Now that these organizational changes are in place we can focus our efforts on delivering the growth potential available in our market" Giles said. About Broadband Learning Corporation Broadband Learning Corporation produces, delivers, supports and manages distance-learning content needed by professionals, corporations and, ultimately, consumers. Broadband Learning uses proprietary technology and nationwide distribution capabilities. Broadband Learning provides the professional development market with a patented Internet-based learning system with on demand flexibility, rich multimedia educational resources, and administrative management capabilities. This enables training companies, instructors and content providers to protect their intellectual properties and realize a significant expansion of their reach. Broadband Learning serves North America and many points around the world from its offices in Salt Lake City, Utah For ships of the United States Navy of the same name, see . Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake, or its initials, S.L.C. . Many of Broadband Learning's products are delivered under the "Broadband University" trade name. 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. |
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