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Press release from

Loyalist Group Limited Announces Debt Settlement

Friday, October 07, 2011

Loyalist Group Limited Announces Debt Settlement08:24 EDT Friday, October 07, 2011(via Toronto, Ontario - October 7, 2011 - Loyalist Group Limited ("Loyalist" or the "Corporation") (TSX Venture Exchange: LOY), (o/a McKinsey Education Group), today announced that it has negotiated a share for debt settlement with three (3) creditors of the Corporation. The Corporation has agreed to issue an aggregate of 241,360 common shares to the arm's length parties in exchange for the cancellation of an aggregate of $30,170 in debt owing to the creditors. The common shares are being issued at a deemed price of $0.125 per common share. The debt settlement is subject to approval of the TSX Venture Exchange. About Loyalist Group Limited Loyalist Group Limited was re-listed on the TSX Venture Exchange on January 4th 2011, after completing the purchase of a 96% position in the operations of McKinsey Education Group. Run by experienced professionals in the private education sector, McKinsey provides educational services with an emphasis on teaching: (i) English as a Second Language, and (ii) professional development courses. Already this year, Loyalist has agreements to acquire three privately run schools; one each in Toronto, Vancouver and South Korea. For further information, please contact: To receive news updates send your email to and mention ?Loyalist News' on the subject line. ---------------------------------------------------------------------- |Andrew Ryu |Jeanny So |Lauren Clarke | |Loyalist Group |CHF Investor Relations|CHF Investor Relations| |Limited |Director of Operations|IR Associate | |CEO |T: (416) 868-1079 x225|T: (416) 868-1079 x241| |T: (416) 977-9800 |E:  |E: | |E: | | | || | | ---------------------------------------------------------------------- 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. Forward-Looking Statements This news release, in accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, the Corporation notes that some statements in this news release look forward in time based on assumptions, uncertainties and management's best estimates of future events, and involve risks and uncertainties that may affect the Corporation`s actual results of operations. The following important factors, among others that are discussed in Corporation filings, could cause actual results to differ materially from those set forth in the forward-looking statements such as, but not limited to risks related to any of the Corporation`s announced acquisitions failing to close or becoming delayed before closing; reliance on the South Korean contract since it provides the majority of existing revenues; dealings in international jurisdiction where Canadian laws do not apply; any loss of certain key personnel; levels of students enrolment; delays in rolling out the online education programs may cause loss of market share; factors affecting ability to successfully compete amongst range of education options available in market; and currency fluctuations versus the Canadian dollar (i.e. South Korean won); and any detrimental affects upon the ``McKinsey`` brand. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in Loyalist Group Limited's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. Loyalist Group Limited has no intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise. Copyright (c) 2011 - All rights reserved.