OTTAWA, Nov. 14, 2017 (GLOBE NEWSWIRE) — betterU Education Corp. (TSX-V:BTRU) (FRANKFURT:5OGA), (the “Corporation” or “betterU”), would like to provide an update in regards to the extended stock halt from trading of betterU.
On October 19th, 2018 at the request of the Corporation, management of betterU contacted the Investment Industry Regulatory Organization of Canada (IIROC) and the TSXV with details of a pending press release. Due to the significantly material nature of the proposed financing, the Corporation decided to ensure that all governing bodies should be involved in the understanding of the deal prior to any detailed market disclosures. As the binding letter of Intent was considered material, it was determined by the board that it needed to be announced, subject to additional validations.
Over the last three weeks, the Corporation’s leadership has been working with the TSXV in outlining the nature of the deal, how the opportunity came about, providing details for who the participants involved are, validation of fund capacity of the investor and what the required disclosers of the business and the announcement for the market should include. Currently the Corporation is completing final validation. These efforts made are for the best interest of the market and the Corporation’s shareholders. It is part of our responsibility to ensure validation for any such significant material news that can affect positively or negatively in the market.
The Corporation is expecting that the halt to the stock will be lifting shortly and that the business will continue forward as normal.
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. Certain statements in this release are forward-looking statements, which include completion of the proposed Investment, the anticipated use of the proceeds of the Investment, the development and expansion of betterU’s operations, and other matters. There can be no assurance that the Investment will be completed as proposed or at all. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, which contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, the development of competitive technologies, the marketplace acceptance of betterU’s products, and other factors, many of which are beyond the control of betterU. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, betterU disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, betterU undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above. 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/
1-613-695-4100 Ext. 233