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15th July 2011

Serebra Learning Corporation Reverse Takeover Update

serebraVancouver-based Serebra Learning Corporation has engaged MNP LLP of Vancouver to prepare a valuation report on Blue Drop Inc., to be filed with the TSX Venture Exchange in connection with the proposed business combination between Serebra and Bluedrop. Trading in the company’s shares will remain halted pending engagement of a sponsor and completion of a preliminary review of the proposed transaction by the Exchange.BlueDrop

Earlier this year, Serebra and Blue Drop had announced the creation of a reseller agreement between the two companies, which would see a portion of Serebra’s sales team offering Bluedrop’s Coursepark product to customers. Coursepark is an online learning site that offers individuals access to skills that promote career development, and small businesses a training solution that allows them to build and/or buy courses, and implement, track and manage users’ completion of courses.

“We are very excited about the opportunity to expand our suite of products on offer to current and future clients,” said Taleeb Noormohamed, President and CEO of Serebra. “Coursepark is rapidly becoming a leading global learning site and we are thrilled at the opportunity to help expand its ever-growing user base. It is an excellent complement to Serebra Campus, allowing our sales team a different target market to pursue.”

In addition, Serebra and Bluedrop have negotiated a separate service agreement to have select members of Serebra’s development team provide specialized technical assistance to support Bluedrop’s roadmap for the Coursepark product.

“As we continue to negotiate the terms of a reverse takeover, these reseller and service agreements provide an opportunity to expand our mutual understanding of our products and business models,” added Taleeb.

This entry was posted on Friday, July 15th, 2011 at 10:00 am and is filed under Business News, National News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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