The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from

Amended: Loyalist Group Limited Completes Acquisition Of WTC Vancouver

Monday, October 31, 2011

Amended: Loyalist Group Limited Completes Acquisition Of WTC Vancouver10:47 EDT Monday, October 31, 2011(via Toronto, Ontario - October 31st 2011 - Loyalist Group Limited ("Loyalist" or the "Corporation") (TSX Venture Exchange: LOY) today announced that further to the news releases dated September 13th 2011 and October 18th 2011, the Corporation has closed the acquisition of all of the issued and outstanding securities of Western Town College Vancouver ("WTC Vancouver"). The aggregate purchase price for all of the issued and outstanding securities of WTC Vancouver was $350,000. Andrew Ryu, CEO of Loyalist Group Limited commented; "The acquisition of WTC Vancouver marks Loyalist's fourth acquisition in 2011. It provides students with the flexibility to study at a number of institutions within the Loyalist educational network in Vancouver in order to fulfill their international educational experience. It will also improve Loyalist's profit potential by taking advantage of the significant synergies available by the combination of facilities." About WTC WTC is in the business of teaching English as a Second Language (ESL), Teacher Training, Business, and TOEFL courses, Interpretation/Translation classes, including, for the more advanced students, a range of diploma programs which will help prepare them for future careers. WTC is also accredited by Languages Canada and PCTIA. 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: (a) English as a Second Language, and (b) professional development courses. For further information, please contact: To receive news updates send your email to and mention ?Loyalist News' on the subject line. ------------------------------------------------------------------ |Andrew Ryu |Cathy Hume |Lauren Clarke | | |Loyalist Group |CHF Investor |CHF Investor Relations| | |Limited |Relations |IR Associate | | |CEO |CEO |T: (416) 868-1079 x241| | |T: (416) 977-9800 |T: (416) 868-1079|E: | | |E: |x2231 | | | ||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 The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and Loyalist Group Limited disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein. Copyright (c) 2011 - All rights reserved.