|By Marketwired .||
|March 14, 2014 08:00 AM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 03/14/14 -- March 14, 2014 - Loyalist Group Limited ("Loyalist" or the "Company") (TSX VENTURE: LOY) congratulates Canada and Korea on the finalization of the Canada-Korea Free Trade Agreement (the "CKFTA") on March 11, 2014.
For more than nine years, the two nations have been discussing the removal of tariffs and the establishment of the first Canadian free-trade foray into the Asia-Pacific region. This landmark achievement constitutes Canada's first free trade agreement in Asia, and will provide new access for Canadian businesses and workers to South Korea, the fourth-largest country in Asia, with an annual GDP of approximately $1.1 trillion and a population of approximately 50 million. According to Languages Canada, there are currently more students that come from South Korea to study English-as a-Second-Language (ESL) in Canada than from any other country in the world.
This news is mutually beneficial as it will benefit workers in every region of the country by increasing sales and exports, and will give consumers more choice and lower prices. Andrew Ryu, Loyalist CEO commented, "this agreement encompasses the very nature behind global relations, a symbiotic partnership that fosters potential opportunities to be capitalized on by each nation". Our government has undertaken the most ambitious trade agenda in Canadian history, where in less than seven years Canada has concluded free-trade agreements with nine countries and is negotiating with 30 more. Since the U.S. and the EU already enjoy free trade agreements with South Korea, the CKFTA will level the playing field for Canadian exporters and investors.
What does this agreement mean for Loyalist?
With the development of relations between Canada and other nations, it is essential that opportunists obtain the proper tools to capitalize on such prospects. Now more than ever Loyalist believes that it can offer individuals relevant training and proper knowledge to capitalize on potential opportunities created by the international agreements.
Loyalist also believes that the trade agreement will give the Company greater access to the South Korean marketplace to build the Loyalist brand in Asia, and will potentially give the Company increased leverage to negotiate more favourable arrangements with overseas agents.
Loyalist Group Limited owns and operates private English as a Second Language (ESL) Schools, Career Colleges and Community Colleges in Toronto, Vancouver, Victoria and Halifax.
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.
This news release includes certain forward-looking statements within the meaning of Canadian securities laws. Such forward-looking information and statements are not representative of historical facts or information or current condition, but instead represent only the Corporation's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Corporation's control. Generally, such forward-looking information or statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken, "will continue", "will occur" or "will be achieved". The forward-looking information contained herein includes, but is not limited to, information with respect to prospective financial performance, anticipated capital funding and sources, proposed or potential acquisitions, estimated operating and sales costs, estimated market drivers and demand, business prospects and strategy, new markets for growth and financial position. By identifying such information and statements in this manner, the Corporation is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation to be materially different from those expressed or implied by such information and statements. Any number of important factors could cause actual results to differ materially from these forward-looking statements as well as future results, including but not limited to: risks related to any of the Corporation's announced or proposed acquisitions failing to close or becoming delayed before closing; the Corporation's reliance on its South Korean contract; carrying on business and activities in international jurisdiction where Canadian laws do not apply; any loss of certain key personnel; levels of student enrolment; delays in rolling out the online education programs; competition in the educational services market; and currency fluctuations.
Although the Corporation has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Although the Corporation believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Accordingly, readers should not place undue reliance on any forward-looking information or statements contained in this press release. The forward-looking information contained in this press release is made as of the date hereof, and the Corporation does not undertake to update any forward-looking information that is contained or referenced herein, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. All subsequent written and oral forward looking information and statements attributable to the Corporation or persons acting on its behalf is expressly qualified in its entirety by this notice.