BEIJING, Oct. 29, 2010 (GLOBE NEWSWIRE) -- The Language Key China Ltd, Hong Kong, a provider of business English and communication skills training, announced that The Language Key China Ltd., its Wholly Owned Foreign Enterprise (WOFE) in Mainland China, signed an exclusive contract with Adobe China to conduct a series of Business English Language training programs for its Beijing office.
"We are honored Adobe China has chosen Language Key as its English Language training partner," stated Dirk Haddow, CEO of The Language Key China Ltd, Hong Kong. "Having a company of this size enlist our services validates our belief that our English language training solutions set The Language Key apart in the training marketplace. Our intent is to continue to build our reputation and solidify our standing as the premier corporate training solutions provider in China."
About The Language Key China Ltd.
The Language Key China Ltd., along with its Hong Kong affiliate, The Language Key Training Ltd. (collectively, "The Language Key"), is a leading provider of Corporate Training Solutions in Greater China, with operations in Hong Kong, Shanghai, Beijing, and Shenzhen. The Language Key provides generic and tailored Business English and Communications Skills courses, Soft Skills workshops, Executive Coaching and other related services to public and private sector clients, including government entities in Hong Kong and Mainland China and many Fortune 500 corporations.
About Mount Knowledge Holdings Inc.
Mount Knowledge Holdings, Inc. (OTCBB:MKHD) is an educational software development, sales and training company offering innovative and proprietary "real-time self learning" software products and teaching services for both corporate and direct consumer markets worldwide. The Company's technology stems from an interactive and visual learning system referred to as "Syntality,"™ integrated into a core application known as the "Knowledge Generator,"™ and is currently being offered in China to the more than 300 million students from grade school to university seeking to learn English, and a vast number of people in the Chinese workplace increasing their English fluency to achieve greater income earning potential.
Executed Definitive Agreement – Mount Knowledge Holdings, Inc.
As disclosed in its Current Report on Form 8-K filed with the United States Securities and Exchange Commission (the "SEC") on October 8, 2010, on October 5, 2010, Mount Knowledge Holdings, Inc. (OTCBB:MKHD) executed a definitive agreement to acquire The Language Key group of companies, a well-established business English and communication skills training organization based in Asia. Upon the completion of the purchase, Mount Knowledge Holdings, Inc. will own the assets of Language Key Asia Ltd, a to be formed parent entity, and its operational subsidiaries, making the entities wholly-owned and operated subsidiaries of Mount Knowledge Holdings, Inc., pursuant to a parent-subsidiary Language Key restructuring plan. The closing is scheduled to occur on or before October 31, 2010 upon completion of all required actions, including the completion of consolidated and audited financial statements of Language Key to coincide with Mount Knowledge Holdings, Inc.'s fiscal year end of October 31, 2010.
Forward-Looking Safe Harbor Statement:
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially from forecasted results. These risks and uncertainties include our ability to: attract members; convert members into paying subscribers and retain our paying subscribers; our ability to successfully implement our current long-term growth strategy; as well as product demand, market competition, fluctuations in advertising payouts, reliance on credit card processors and related necessary merchant account approvals, delays in website & application development, technical issues beyond our control, reliance on the various platforms that we build applications on, and risks inherent in our operations. For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov.