NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES
TORONTO, Jan. 18, 2021 (GLOBE NEWSWIRE) —BlueRush Inc. (“BlueRush” or the “Firm”) (TSX-V: BTV), an rising customized video Software program as a Service (“SaaS”) firm, is happy to announce that because of excessive demand it’s growing the utmost increase of its beforehand introduced proposed non-brokered non-public placement financing to a most of $4,500,000 items (a “Unit” or “Models”) of the Firm (the “Providing”).
Accordingly, BlueRush now proposes to boost gross pursuant to the Providing proceeds of a minimal of $2,000,000 and a most of $4,500,000 by way of the issuance of a minimal of 19,047,619 Models and a most of 42,857,142 Models at $0.105 per Unit. Every Unit shall encompass (i) one (1) frequent share of the Firm, and (ii) one (1) transferable frequent share buy warrant. Every warrant shall entitle the holder thereof to accumulate one further frequent share of the Firm at a price of $0.18 per share till the date that’s thirty-six (36) months from the closing. The expiry of the warrants may be accelerated by the Firm at any time following the 4 (4) month anniversary of the issuance of the warrant and previous to the expiry date of the warrants if the quantity weighted common price of the frequent shares of the Firm on the TSX Enterprise Change (the “Change”) is larger than $0.22 for any twenty (20) consecutive buying and selling days, at which period the Firm may, inside ten (10) enterprise days, speed up the expiry date of the warrants by issuing a press launch saying the diminished warrant time period whereupon the warrants will expire on the 20th calendar day after the date of such press launch.
The web proceeds of the Providing might be utilized by the Firm to proceed to speed up development of its subscription income, R&D and for working capital.
As well as, the Firm pronounces that holders of its 2018 Debentures (as outlined within the Firm’s Information Launch dated January 15, 2021) will now have till 5:00 p.m. (Toronto time) on January 20, 2021 to simply accept the Conversion Supply (as outlined within the Firm’s Information Launch dated January 15, 2021).
All securities issued pursuant to the Providing might be topic to a four-month maintain interval. Closing of the transactions are topic to, amongst different issues, prior approval of the Change.
BlueRush develops and markets IndiVideo™, a disruptive, award-winning interactive customized video platform that drives return on funding all through the shopper lifecycle, from elevated conversions to extra partaking statements and buyer care. IndiVideo permits BlueRush shoppers to seize information and information from their clients’ video interplay, creating new and compelling information pushed buyer insights. For extra data go to www.bluerush.com.
Sure statements contained on this press launch may represent “forward-looking information” as such time period is outlined in relevant Canadian securities laws. The phrases “may”, “would”, “could”, ”ought to”, “potential”, ”will”, “seek”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and comparable expressions as they relate to the Firm, together with closing of the Providing and the debt conversions, are meant to establish forward-looking data. All statements aside from statements of historic reality may be forward-looking data. Such statements mirror the Firm’s present views and intentions with respect to future occasions, and present data obtainable to the Firm, and are topic to sure dangers, uncertainties and assumptions, together with: receipt of subscription agreements and subscription proceeds; circumstances for closing of the Providing being glad or waived; approval of the administrators of the Firm and approval of the Change. Materials components or assumptions have been utilized in offering forward-wanting data. Many components might trigger the precise outcomes, efficiency or achievements that may be expressed or implied by such forward-looking data to differ from these described herein ought to one or extra of those dangers or uncertainties materialize. These components embody, with out limitation: modifications in regulation; the capacity to implement enterprise methods and pursue enterprise alternatives; state of the capital markets; the availability of funds and sources to pursue operations; a novel enterprise model; dependence on key suppliers and native companions; competitors; the result and value of any litigation; normal financial, market and enterprise circumstances; and dangers associated to COVID-19 together with numerous suggestions, orders and measures of governmental authorities to attempt to restrict the pandemic, together with journey restrictions, border closures, non-essential enterprise closures, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, financial exercise, financing, provide chains and gross sales channels, and a deterioration of normal financial circumstances together with a doable nationwide or international recession; in addition to these danger components mentioned or referred to in disclosure paperwork filed by the Firm with the securities regulatory authorities in sure provinces of Canada and obtainable at www.sedar.com. Ought to any issue have an effect on the Firm in an surprising method, or ought to assumptions underlying the forward-looking data show incorrect, the precise outcomes or occasions may differ materially from the outcomes or occasions predicted. Any such forward-looking data is expressly certified in its entirety by this cautionary assertion. Furthermore, the Firm doesn’t assume duty for the accuracy or completeness of such forward-looking data. The forward-looking data included on this press launch is made as of the date of this press launch and the Firm undertakes no obligation to publicly replace or revise any forward-looking data, aside from as required by relevant regulation.
The securities referred to on this information launch haven’t been, nor will they be, registered underneath the United States Securities Act of 1933, as amended, and may not be provided or bought inside the United States or to, or for the account or good thing about, U.S. individuals absent U.S. registration or an relevant exemption from the U.S. registration necessities. This information launch doesn’t represent a suggestion on the market of securities, nor a solicitation for gives to purchase any securities. Any public providing of securities in the US have to be made by way of a prospectus containing detailed data concerning the firm and administration, in addition to monetary statements.
|For additional data please contact:|
|Steve Taylor, CEO||Ankur Gupta, Interim CFO|
|Tel: 416-457-9391||Tel: 416-203-0618|
Neither TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts duty for the adequacy or accuracy of this launch.