betterU Education Corp. Announces the Closure of the Second Tranche of the Private Placement
OTTAWA, ON – (July 13, 2017) – 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 second tranche of the non-brokered private placement.
The Company has completed subscription agreements for $750,000 for the second tranche on Tuesday, July 11th. As previously stated, betterU’s financing includes tranche investments that assists in accommodating interest from strategic investment partners who require additional time for due diligence. betterU continues to assess multiple international strategic partners interested in supporting betterU.
The financing will consist of 1,363,650 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.
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 complement 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.