betterU Education Corp. Announces Close of Private Placement
July 30 2019 - 11:45AM
betterU Education Corp. (TSX VENTURE:BTRU) (FRANKFURT:5OGA), (the
"Company" or "betterU") is pleased to announce that it has decided
to close the non-brokered private placement having completed
$409,000, issuing 5,842,857 Units at a deemed price of $0.07 per
Unit. Each Unit consists of a Common share and a full warrant
(“Unit”). Each full warrant can be exercised for two years at a
price of $0.15. A finder’s fee of 7% in cash and 7% in warrants can
be exercised for 12 months at a price of $0.15 may be paid on a
portion of the private placement.
The private placement has been closed so the
Company can focus on current opportunities in the pipeline. The
proceeds will be used for working capital purposes.
This financing and all securities proposed to be
issued thereunder are subject to the acceptance of the TSX Venture
Exchange. All securities issued under the private placement are
subject to a four month and one-day hold period from date of
issuance.
About betterUbetterU, an online
education technology company, aims to provide access to quality
education from around the world in order to foster growth and
opportunity to those who want to better their lives. The Company
plans to bridge the prevailing gap in the education and job
industry and enhance the lives of its prospective learners by
developing an integrated ecosystem. betterU’s offerings can be
categorized into four broad functions: to compliment school
programs with flexible KG-12 programs preparing children for their
next stage of education, to foster an exceptional educational
environment by providing befitting skills that lead to a better
career, to bridge the gap between one’s existing education and
prospective job requirement by training them and lastly, to connect
the end user to various job opportunities.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
By their nature, forward-looking statements
include assumptions and are subject to inherent risks and
uncertainties that could cause actual future results, conditions,
actions or events to differ materially from those in the
forward-looking statements. If and when forward-looking statements
are set out in this news release, betterU will also set out the
material risk factors or assumptions used to develop the
forward-looking statements. Except as expressly required by
applicable securities law, the Company assumes no obligation to
update or revise any forward-looking statements. The future
outcomes that relate to forward-looking statements may be
influenced by many factors, including, but not limited to: industry
cyclicality; the ability to secure third party agreements;
successful integration of betterU’s system with third party
technology; competition; reduction in demand for products;
collection from customers; relationships with suppliers; product
liability; intellectual property; reliance on key personnel;
environmental; interest rates; uninsured and underinsured losses;
operating hazards; risks of future legal proceedings; income tax
matters; credit facilities; availability and terms of financing;
distribution of securities; restrictions on potential growth;
effect of market interest rates on price of securities; and
potential dilution. betterU does not assume any obligation to
update any forward-looking statements except as required by
law.
CONTACT INFORMATION
On behalf of the Board of Directors, betterU Education Corp.
Brad Loiselle, CEO
Investor Relations1-613-695-4100Email: ir@betteru.ca
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