Serebra Learning Corporation (TSX VEN: SLC) (Pink Sheets: SLCFF) ("Serebra" or the "Company") is pleased to announce that it has completed its business combination (the "Transaction") with Blue Drop Inc. ("Blue Drop"). Pursuant to the Transaction, the Company acquired all of the issued and outstanding securities of Blue Drop in exchange for the issuance of common shares of the Company, by way of a statutory amalgamation in accordance with the Corporations Act (Newfoundland and Labrador). The Transaction constituted a reverse takeover of Serebra by Blue Drop.

As part of the Transaction, Serebra consolidated its issued and outstanding common shares on the basis of one post-consolidation common share for every four common shares outstanding, continued its corporate jurisdiction into the Province of Newfoundland and Labrador (from the Province of Alberta), and changed its name to "Bluedrop Performance Learning Inc."

Trading in the common shares of the Company on a post-consolidated basis and under its new symbol "BPL" is scheduled to commence at market open on January 27, 2012.

Emad Rizkalla, the new President and CEO of the Company stated, "Bluedrop has always been focused on innovation. The closing of the business combination transaction provides us with excellent technology, 50,000 new users, access to significant South America business opportunities and a public company vehicle that we will leverage to support our very rapid growth."

Summary of the Transaction

The Transaction was completed by way of a statutory amalgamation whereby Blue Drop amalgamated with a wholly owned subsidiary of the Company, with the amalgamated company ("Amalco") being wholly owned by the Company. In connection with the Transaction, the Company issued 86,866,408 post-consolidated common shares to shareholders of Blue Drop, which on closing represented 87.756% of the Company's total issued and outstanding shares.

As a result of the Transaction, Rizbollo Holdings Limited ("Rizbollo") (an entity beneficially owned by Emad Rizkalla) holds approximately 66.53% of the issued and outstanding common shares of the Company.

86,231,257 of shares of the Company issued in exchange for the shares of Blue Drop are subject to escrow pursuant to the policies of the TSX Venture Exchange applicable to value escrow securities, and the remaining 635,151 shares are subject to equivalent restrictions.

Immediately following closing of the Transaction, the Company and Amalco completed a vertical amalgamation to combine the parent and subsidiary companies into a single resulting company.

On closing of the transaction, certain former directors and officers of Serebra were issued 675,000 shares as management compensation shares. The shares are subject to a four month hold period. In addition, 212,500 of the shares which were issued to Taleeb Noormohamed are subject to release pursuant to a value escrow agreement.

Directors and Senior Management

On closing of the Transaction, the board of directors of the Company was reconstituted as follows: Derrick Rowe (Chairman), Emad Rizkalla, Andrew Youngman, Bernard Beckett, Taleeb Noormohamed and Lecia Stewart.

The Company's senior management is comprised of Emad Rizkalla (President and Chief Executive Officer), Ted Howell (Chief Financial Officer), John Moores (Vice President, Operations) and Allen Dillon (Executive Vice President, Defence and Aerospace).

Additional Information

Further details regarding the Transaction are provided in a management information circular dated December 5, 2011 which was mailed to shareholders of Serebra in connection with the Company's annual and special meeting held on January 5, 2011 and is filed on SEDAR at www.sedar.com.

For more information about the resulting issuer, visit www.bluedrop.com.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation; statements about the terms of the Transaction and final Exchange approval are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

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, and no securities regulatory authority has either approved or disapproved of the contents of this release.

Serebra Learning Corporation
Jenny Carroll, 709-739-4981 / 800-563-3638
Director, Marketing