Effective as of May 12, 2015, Sibling Group Holdings, Inc. announced that Mr. Brian A. OliverSmith was removed from the Board of Directors of the company. In connection with Mr. OliverSmith's removal from the Board, on May 13, 2015, the company informed Mr. OliverSmith of the intent to terminate his employment as the company's Chief Executive Officer. Pursuant to the terms of Mr. OliverSmith's employment agreement, his termination shall be effective no earlier than 60 days from the date notice of termination was delivered to Mr. OliverSmith.

The company has notified Mr. OliverSmith that his employment termination, as well as the termination of his employment agreement, shall be effective as of July 12, 2015. However, Mr. OliverSmith will not perform any duties for the company during the Notice Period. On May 13, 2015, the Board appointed Mr. Dave Saba, President of the company, as the company's principal executive officer, effective immediately.

Saba has served as President and a member of the company's Board since February 1, 2014, concurrent with the company's acquisition of the assets of DWSaba Consulting LLC. Since 2013, Mr. Saba has been the principal of DWSaba Consulting. From 2011 to 2013, Mr. Saba served as the Chief Executive Officer of Laying the Foundation, Inc., which merged with the National Math + Science Initiative.

Saba served as the Chief Operating Officer of NMSI, where he was responsible for leading all aspects of marketing, government relations and strategic growth, among other functions. Saba was appointed as the Company's President and a member of the Board in connection with the company's acquisition of DWSaba Consulting. On May 13, 2015, the Board appointed Mr. Robert Todd Jones to serve as a member of the company's Board, filling one of the Board vacancies and serving until the next election of directors by the company's shareholders, or until his successor is duly elected and qualified.

Mr. Jones will be compensated for his service on the Board in the same manner as all other directors.