OTTAWA, July 28, 2017 (GLOBE NEWSWIRE) -- BetterU Education Corp. (TSX-V:BTRU) (FRANKFURT:5OGA), (the "Company" or "betterU") announced today it has filed its audited financial results for the three months ended March 31, 2017. betterU is a technology gateway and marketplace for online education in emerging markets. The Company aggregates online learning from quality content vendors including universities, colleges and corporations from around the world and makes that content available to students through the betterU marketplace.
Financial Highlights for the three months ended March 31, 2017
- On March 3, 2017 the Company completed its reverse takeover transaction (“RTO") between Open Gold and Skillsdox Inc. and changed the Company name to betterU
- Equity financing of approximately $3.1 million closed concurrently with the RTO
- The Company reported revenues for the period of $46,436, an operating loss of $1,223,362 and a net loss of $3,267,314. The net loss was after interest and other expenses, as well as $770,100 of RTO transaction expenses and $1,157,092 of listing expenses. More than $1.5 million of the RTO expenses and listing expenses were non cash expenses.
Additional information concerning the Company, including its audited consolidated financial statements and its Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) for the year ended March 31, 2017 can be found at www.sedar.com.
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 industries 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 K-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.
By their nature, forward-looking statements include assumptions and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this news release, betterU will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities law, the Company assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including, but not limited to: industry cyclicality; the ability to secure third party agreements; successful integration of betterU’s system with third party technology; competition; reduction in demand for products; collection from customers; relationships with suppliers; product liability; intellectual property; reliance on key personnel; environmental; interest rates; uninsured and underinsured losses; operating hazards; risks of future legal proceedings; income tax matters; credit facilities; availability and terms of financing; distribution of securities; restrictions on potential growth; effect of market interest rates on price of securities; and potential dilution. betterU does not assume any obligation to update any forward-looking statements except as required by law.
CONTACT INFORMATION
For further information, please visit
http://www.betteru.ca/investor-overview/
Gurinder Sandhu, Investor Relations
1-613-695-4100 ex 233
Email: IR@betteru.ca