Loyalist Group Limited Comments on Canada-Korea Free Trade Agreement
14 Marzo 2014 - 6:00AM
Marketwired
Loyalist Group Limited Comments on Canada-Korea Free Trade
Agreement
TORONTO, ONTARIO--(Marketwired - Mar 14, 2014) - 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.
About Loyalist
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.
Forward-Looking Statements
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.
Loyalist Group LimitedAndrew RyuCEO(416)977-9800
X225aryu@loyalistgroup.comLoyalist Group LimitedDavid MacAdamVP
Corporate Development(604)961-3513dmacadam@loyalistgroup.com
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