The first step in this financing was the sale of two-thirds of Lansbridge in July 2001 and the second step is anticipated to close on January 16, 2001 when Lansbridge Holdings Ltd., if approved by disinterested shareholders and the CDNX, will become the largest shareholder, holding approximately 32.7% of the issued shares of Learnsoft and will hold an option to acquire from Michael Gaffney additional shares that, if exercised, would result in it becoming the owner of a majority of the issued shares of Learnsoft.
The business of the Corporation has evolved over time with a focus on building elearning verticals (``eLV'') and a platform elearning technology called the Global Adaptive Learning Environment (``GALE'').This focus resulted from building Canada's first, and one of the world's first, private, for profit, Internet based universities - Lansbridge University
.Using the GALE platform, the Corporation now, as an Application Service Provider (``ASP''), provides elearning hosting and content delivery services to several eLV's such as Lansbridge University http://www.lansbridge.com/, Management Vitality http://www.managementvitality.com/, and Supply Training International http://www.skills2buy.com/.
On October 10, 2001, at Post Expo in Geneva, Switzerland, Learnsoft
launched a new eLV called Postal U http://www.postalu.com/.The official launch of Postal U
implemented, in part, a Memorandum of Agreement dated August 9, 2001 between the Universal Postal Union
in Bern, Switzerland and Learnsoft
to collaborate on the development and marketing of elearning solutions for Postal Administrations around the world.
...The acquisition of Learnsoft by Holdings will create a powerful combination of a traditional education company with strong financial backing and an aggressive young elearning company,'' said Michael Gaffney, president and CEO of Learnsoft Corporation.
Formed in 1996 by Michael Gaffney
, Ottawa-based Learnsoft Corporation
(CDNX: LT) was created in response to the growing training requirements of the fast-paced high technology industry.Learnsoft
has quickly become a highly respected education provider and a world leader in designing and delivering educational products and software.The company has tapped into the growing market for electronic learning by offering online education products, ranging from individual interactive business courses to an entirely Internet-based university.Clients include Intel
, Nortel Networks
, Telus, MDS Nordion, Computing Devices, and Aliant Communications.For more information, please visit Learnsoft's Web site at http://www.learnsoft.ca/ and Lansbridge University's site at www.lansbridge.com.
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
President and CEO Learnsoft Corporation
Telephone: (613) 592-3880 ext. 224 Cellular: (613) 797-6744 email@example.com
SOURCE: Learnsoft Corporation
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