NEWBURYPORT, MA -- (Marketwired) -- 06/12/13 -- Trunity Holdings, Inc. (OTCBB: TNTY) (OTCQB: TNTY) ("Trunity"), the creator of the Trunity eLearning Platform that empowers higher education, K-12, corporate enterprises and government agencies worldwide to create, manage and share knowledge, today announced that it has entered a Memorandum of Understanding ("MOU") with its new institutional investor, Pan-African Investment Company, LLC ("PIC"), whereby PIC will assist with the introduction and marketing of the Trunity eLearning Platform in African nations seeking to improve the quality of education for their citizens.
Pursuant to the terms and conditions of the MOU, PIC has been granted a seven-year exclusive right to introduce Trunity's products and services to the governments of each of the countries on the African continent with a goal of improving, modernizing and providing these countries with a sustainable education platform.
According to the United Nations Educational, Scientific and Cultural Organization (UNESCO), 10 million children drop out of primary school every year in sub-Saharan Africa. Even those fortunate enough to complete primary school often leave with literacy and numeracy skills far below their potential. In addition, there is a major shortage of trained teachers. As a result, in order to ensure that every child has access to quality education by 2015, sub-Saharan Africa will need to recruit an estimated 350,000 new teachers every year. Further exacerbating the strain on education systems in Africa is the fact that the continent has the highest concentration of illiterate adults in the world.
Recognizing that education is the key to human development and economic growth, dozens of countries in Africa have embarked on new government-backed initiatives to integrate learning technology into education and training. In fact, with very few exceptions, most of these countries now have official government policies on the use of technology in education, with numerous national digitization projects being funded directly by these central governments with and without the aid of external donors. Global research firm Ambient Insight reports that the growth rates in Africa for custom content development services, cloud-based authoring tools and learning platforms and installed authoring tools and learning platforms are currently the highest in the world.
Dana Reed, Co-CEO of PIC and a member of Trunity's Board of Directors, stated, "Education is one of the most important investments a country can make in its people and its future, as it fuels opportunities for achieving economic growth and prosperity and provides the tools and skills necessary to improve quality of life. Consequently, we are anxious to begin introducing Trunity and its fully integrated Trunity eLearning Platform to African countries as we believe they can have a profound impact on the delivery and exchange of knowledge in these countries." Trunity CEO Terry Anderton stated, "We are very excited to work closely with PIC in democratizing education across Africa. This is a long-term commitment by both parties. Moreover, Trunity plans to establish a significant local presence on the African continent to support our efforts to transform education there."
About Pan-African Investment Company, LLC
PIC is a New York City-based private investment firm founded by Dick Parsons and Ronald Lauder to identify, invest in and provide solutions that effect growth and development in Africa.
About Trunity Holdings, Inc.
Founded in 2009, Trunity Holdings, Inc. (OTCBB: TNTY) (OTCQB: TNTY) ("Trunity") has developed a collaborative knowledge management, publishing and education delivery platform, which provides an end-to-end solution for the rapidly growing eTextbook, eLearning and enterprise training marketplaces. As a result of the platform's innovative multi-tenant cloud-based architecture, Trunity allows content from multiple sources to be assembled into customized living digital textbooks and courseware and delivered with real-time updates directly to the student on any Internet-enabled computer or mobile device. The content powered by Trunity is seamlessly integrated with learning management, social collaboration, standards alignment, real-time analytics and royalty-tracking functionality. Trunity currently hosts a growing global community of over 4,300 expert contributors made up of top scientists and educators, who create peer-reviewed educational content. The Company's clients include leading colleges, universities, K-12 schools, corporate enterprises and government agencies worldwide. Headquartered in Newburyport, Massachusetts, Trunity has operations in North America, Ukraine and India. For more information, visit http://www.trunity.com/.
Statement Under the Private Securities Litigation Reform Act
As contemplated by the provisions of the Safe Harbor section of the Private Securities Litigation Reform Act of 1995, this news release contains forward-looking statements pertaining to future, anticipated, or projected plans, performances and developments, as well as other statements relating to future operations. All such forward-looking statements are necessarily only estimates or predictions of future results or events and there can be no assurance that actual results or events will not materially differ from expectations. Further information on potential factors that could affect Trunity Holdings Inc. is included in the Company's filings with the Securities and Exchange Commission. We expressly disclaim any intent or obligation to update any forward-looking statements.
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