OTTAWA, Feb. 02, 2018 (GLOBE NEWSWIRE) --
betterU Education Corp. (TSX VENTURE:BTRU) (FRANKFURT:5OGA) (the "Company" or "betterU") is pleased to announce it has closed the second tranche of $438,789.86 at a deemed price of $0.46 per Unit. Each Unit consists of a Common share and a ½ warrant (“Unit”). Each full warrant can be exercised for one year at a price of $0.60. A finder’s fee of $8,159.25 was paid a long with 17,738 in warrants issued on this portion of the private placement.
The proceeds will be used for working capital purposes including, but not limited to, the set-up of betterU’s core global leadership team to support the expected people growth requirements for 2018.
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.
betterU, a global education marketplace, aims to provide access to quality education from around the world 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 education-to-employment ecosystem. betterU’s offerings can be categorized into several broad functions: to compliment school programs with flexible KG-12 programs preparing children for next stage of education, to provide access to global educational opportunities from leading educators, 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.
This press release may contain forward-looking statements and information, which may involve risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors that might cause a difference include, but are not limited to, competitive developments, risks associated with betterU’s growth, the state of the financial markets, regulatory risks and other factors. There can be no assurance or guarantees that any statements of forward-looking information contained in this release will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral statements containing forward-looking information are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Unless otherwise required by applicable securities laws, betterU disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise. Readers should not place undue reliance on any statements of forward-looking information that speak only as of the date of this release. Further information on betterU’s public filings, including their most recent audited consolidated financial statements, are available at www.sedar.com.
For further information, please visit http://www.betteru.ca/investor-overview/
On behalf of the Board of Director,
betterU Education Corp.
Brad Loiselle, CEO
For further information:
1-613-695-4100 Ext. 233