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| ||Mon Mar 26, 2012|
China Education Resources Inc. Update
| ||VANCOUVER, Canada (March 26, 2012) - China Education Resources, Inc. ("CER") (TSXV: CHN) (OTCQX: CHNUF), a leading technology provider of online learning, training courses, social networking and tools for teachers, students and education professionals in China, is pleased to provide an update to shareholders:|
CER has been selected by Guizhou education authority to provide digital textbook contents to the students of Guizhou province in 2012. CER is in discussion with other provinces for similar digital textbook programs.
"We are delighted to see progress across a number of our product offerings. China's education digitization program is providing abundant opportunities for CER and other education service providers. Over the past few years, CER has developed the infrastructure to take advantage of this business and it is beginning to bear fruit. This is especially true of CER's portal (CERSP) which has been engaged by 14 provinces for online teacher training programs and has over one million teachers registered. We are also being increasingly approached by publishers and content providers for digital education material development." said Chengfeng Zhou, CEO, China Education Resources Inc..
CER is pleased to announce that Mr. Mark Scott has joined the Board of Directors of CER. Mr. Scott is the owner of Daythan Capital the major shareholder of D&M Publishers Inc., one of Canada's largest independent book publishers. He is also the founder of BookRiff Media Inc., a new digital content platform. Prior to acquiring D&M, Mr. Scott was Managing Director, Office Head of Scotia Capital's Vancouver office. Scotia Capital is the investment banking division of the Bank of Nova Scotia. He spent six years as Managing Director in Hong Kong working with Scotia Capital, and as Director of Asian Capital Partners, a leading investment bank in Asia.
CER granted 1 million stock purchase options to two directors and six employees. The exercise price of the option is $0.40 for five years. These stock options are vested over a four year period.
In collaboration with China's education administrators and experts, China Education Resources has been helping to transform the curriculum of the world's largest educational system. Recognizing the need to address education reform changes, China Education Resources has created educational tools and curriculum for China's entire kindergarten through twelfth grade system. The Company is playing an integral part in transforming China's educational system through helping to convert the existing educational system from a memory-based learning system to a creative thinking and interactive approach. Presently, China Education Resources has over 1 million kindergarten through twelfth grade teachers registered as users of its CERSP web portal. For more information, please visit www.chinaeducationresources.com or call (604) 331-2388.
Safe Harbor Statement
Certain statements made herein, and other statements relating to matters that are not historical facts and statements of our beliefs, intentions and expectations about developments, results and events which will or may occur in the future, constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information and statements are typically identified by words such as "anticipate", "could", "should", "expect", "seek", "may", "intend", "likely", "plan", "estimate", "will", "believe" and similar expressions suggesting future outcomes or statements regarding an outlook. All such forward-looking information and statements are based on certain assumptions and analysis made by China Education Resources, Inc.'s management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading "Risks and Uncertainties" elsewhere in the Company's MD&A filed at www.SEDAR.com. The reader is cautioned not to place undue reliance on forward-looking information or statements. Except as required by law the Company does not assume the obligation to revise or update these forward looking statements after the date of this document or to revise them to reflect the occurrence of future, unanticipated events.
The TSX Venture Exchange has not reviewed, and does not accept, responsibility for the adequacy or accuracy of the contents of this press release.
Contact China Education Resources at: (604) 331-2388
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