OTTAWA, May 18, 2018 (GLOBE NEWSWIRE) -- betterU Education Corp. (TSX-V:BTRU) (FRANKFURT:5OGA), (the “Corporation” or “betterU”), announces that while they still expect to receive the funds, it was not completed yesterday as previously announced on April 30th, 2018.
betterU’s management continues to work with TU Capital Co. Ltd. (“TU”) to complete the investment transaction and according to TU management they are only waiting on a couple fund participants required to travel to Tokyo, Japan for the execution of the release. betterU’s CEO Brad Loiselle and Chairman of the Board Tony Keenan recently travelled to Toronto to meet with TU management to discuss the release of fund process and timelines. While TU could not provide the exact date for the release, as it is depended on these individuals’ schedules, they provided additional confidence that the funds are ready to be released and only waiting on these sign offs. “These delays have been challenging for all involved. We have confidence in TU and are supportive of this deal based on the personal relationships involved, what we have seen, validated and been part of regarding planning, meetings and approvals. We do understand that timelines do not always go as we might want and everyone’s patience is appreciated” said Brad Loiselle, President and CEO of betterU.
The majority shareholder’s approval has been provided the Corporation. The consummation of any financing, as contemplated, remains subject to TSXV approval, and among other conditions of the TSXV’s approval.
About betterU
betterU, a global education to employment platform, 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.
www.betterU.ca and www.betterU.in
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.
This press release may contain forward-looking statements and information, which may involve risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors that might cause a difference include, but are not limited to, competitive developments, risks associated with betterU’s growth, the state of the financial markets, regulatory risks and other factors. There can be no assurance or guarantees that any statements of forward-looking information contained in this release will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral statements containing forward-looking information are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Unless otherwise required by applicable securities laws, betterU disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise. Readers should not place undue reliance on any statements of forward-looking information that speak only as of the date of this release. 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 https://ir.betteru.ca/investor-overview/press-releases/
On behalf of the Board of Director,
better Education Corp.
Brad Loiselle, CEO
For further information:
Investor Relations
1-613-695-4100 Ext. 233
Email: ir@betteru.ca