Sibling Group Holdings, a company whose
efforts and resources are focused on educational technology, is off to an
encouraging start leveraging capital proceeds of $5.5 million stemming from its
exercising of previously issued common share purchase warrants.
The warrant arrangement was issued in
conjunction with SIBE’s funding from People’s Republic of China Limited
Liability Company, Shenzhen City Qianhai Xinshi Education Management Co., Ltd.
(“Shenzhen Times”), which was announced early last month. The Shenzhen Times
partnership and strategic investment was crafted to expedite Sibling’s
expansion into strategic markets around the world. China in particular offers
significant opportunity for growth.
Brian Oliver-Smith, Sibling Group’s CEO
commented, “This additional infusion of capital indicates that our Strategic
Partner and Investor, Shenzhen Times, is confident in the future of Sibling
Group. This further investment should allow the Company to move quickly and
take advantage of the opportunities we are seeing across multiple markets
domestically and internationally for both our Blended Schools Networks
curriculum and solutions and our Urban Planet Mobile products.”
Shenzhen Times exercised 100% of its
nearly 43 million A-1 warrants at an exercise price of $0.07 per share and
30,000,000 of their B-1 warrants at an exercise price of $0.084 per share.
Terms of the deal indicate that the total number shares issued upon the
exercise of the warrants may not be offered or sold without being registered
with the SEC or by way of an exemption from SEC registration requirements. As a
result of this warrant exercise, Shenzhen Times becomes the majority holder of
SIBE’s outstanding common stock.
Sibling’s two wholly owned subsidiaries,
the Blended Schools Network (BSN) and Urban Planet Mobile™ (UPM), have forged
competitive positions in the sharp, upward trending global eLearning and
mEducation markets. Blended Schools Network provides benchmark online
curriculum for the K-12 marketplace with hosted course authoring tools and
professional development for teachers. The curriculum also includes a learning
management system environment. Urban Planet’s platform is used in more than 40
countries. Most notably, its products can be used and integrated with all
digital and mobile platforms.
For more information on the company,
visit Sibling Group Holdings, Inc., Message Board
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