betterU Education closes $500K 1st tranche of private placement

pcNewsWire – betterU Education Corp. (TSX-V: BTRU; FSE: 5OGA) has closed first tranche of previously announced non-brokered private placement, issuing 909,200 units at $0.55 per unit for gross proceeds of $500,060.

News Release

betterU Education Corp. Announces the Closure of the First Tranche of the Private Placement

OTTAWA, Ontario, June 30, 2017 (GLOBE NEWSWIRE) — betterU Education Corp. (TSX-V:BTRU) (FRANKFURT: 5OGA), (the “Company” or “betterU”). Further to the news release dated June 26, 2017, betterU is pleased to announce the closure of the first tranche of the non-brokered private placement.

The Company has completed subscription agreements for $500,060 for the first tranche on Thursday June 29th. As previously stated, the adjustment of betterU’s investments and minimum tranching stems from a level of interest received from multiple strategic partners interested in investing who require additional time for due diligence.

All other terms of the financing will remain the same. The financing will consist of a minimum of 1,818,182 Units at $0.55 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 $0.80.

A finder’s fee of 7.5% in cash and/or warrants and 7.5% in warrants may be paid on a portion of the private placement.

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 betterU

betterU, 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.