BlueRush Announces Proposed Non-Brokered Private Placement
18 Juni 2024 - 1:30PM
BlueRush Inc. (“
BlueRush” or the
“
Company”) (TSXV:BTV; OTCQB:BTVRF), a
personalized video Software as a Service (“
SaaS”)
company, announced today a proposed non-brokered private placement
financing pursuant to which BlueRush proposes to raise gross
proceeds of up to $1,020,000 through the issuance of up to 68 units
(a “
Unit” or “
Units”) of the
Company at $15,000 per Unit (the “
Offering”).
Each Unit shall consist of (i) 500,000 common shares of the
Company (the “
Common Shares”) at a deemed price
of $0.02 per Common Share, (ii) 500,000 transferable common share
purchase warrants, with each warrant entitling the holder thereof
to acquire one additional Common Share at a price of $0.05 per
Common Share until the date that is 60 months from the closing,
and (iii) a $5,000 principal amount 10.0% unsecured convertible
debentures (the “
Convertible Debentures”) with
each Convertible Debenture maturing on the date which is 60 months
from closing and convertible into Common Shares at a conversion
price of $0.05 per Common Share in the first year and $0.10 per
Common Share in years two to five.
The net proceeds of the Offering will be used by
the Company for working capital and to address certain aged
payables. Except for salaries paid in the ordinary course, none of
the proceeds will be used for payments to Non-Arm’s Length Parties
(as such term is defined by the TSX Venture Exchange (the
“TSXV”)) of the Company. In addition, the Company
will not use more than 10% of the proceeds towards Investor
Relations Activities (as such term is defined by the TSXV).
In connection with the issue and sale of the
Units pursuant to the Offering, the Company may pay registered
dealers and finders a cash commission equal to 8% of the aggregate
gross proceeds under the Offering.
All securities issued pursuant to the Offering
will be subject to a four-month hold period pursuant to securities
laws and the policies of the TSXV. Closing of the Offering is
subject to, amongst other things, prior approval of the TSXV.
About BlueRush
BlueRush, through its wholly owned operating
subsidiary, builds and delivers products and services that engage
customers in the digital channels. BlueRush’s flagship product,
IndiVideo®, is a disruptive, award-winning interactive personalized
video platform that drives return on investment throughout the
customer lifecycle, from increased conversions to more engaging
statements and customer care. IndiVideo® enables BlueRush clients
to capture knowledge and data from their customers' video
interaction, creating new and compelling data driven customer
insights. For more information
visit https://www.bluerush.com.
Steve TaylorChief Executive OfficerBlueRush
Inc.Tel: 416-457-9391Email: steve.taylor@bluerush.com
Kendra BorutskiDirector of MarketingBlueRush
Inc.Email: kendra.borutski@bluerush.com
Cautionary Statements
Certain statements contained in this press
release may constitute "forward-looking information" as such term
is defined in applicable Canadian securities legislation. The words
"may", "would", "could", "should", "potential", "will", "seek",
"intend", "plan", "anticipate", "believe", "estimate", "expect"
and similar expressions as they relate to the Company, are intended
to identify forward-looking information, including, without
limitation: the size of the Offering; the closing of the Offering;
and the use of the proceeds of the Offering. All statements other
than statements of historical fact may be forward-looking
information. Such statements reflect the Company's current views
and intentions with respect to future events, and current
information available to the Company, and are subject to certain
risks, uncertainties and assumptions. Material factors or
assumptions were applied in providing forward-looking information.
Many factors could cause the actual results, performance or
achievements that may be expressed or implied by such
forward-looking information to vary from those described herein
should one or more of these risks or uncertainties materialize.
These factors include, without limitation: changes in law; the
ability to implement business strategies and pursue business
opportunities; state of the capital markets; the availability of
funds and resources to pursue operations; a novel business model;
dependence on key suppliers and local partners; competition; the
outcome and cost of any litigation; the general impact of
COVID-19 pandemic, as well as general economic, market and
business conditions, as well as those risk factors discussed or
referred to in disclosure documents filed by the Company with the
securities regulatory authorities in certain provinces of Canada
and available at www.sedarplus.com. Should any factor affect the
Company in an unexpected manner, or should assumptions underlying
the forward-looking information prove incorrect, the actual
results or events may differ materially from the results or events
predicted. Any such forward-looking information is expressly
qualified in its entirety by this cautionary statement. Moreover,
the Company does not assume responsibility for the accuracy or
completeness of such forward-looking information. The
forward-looking information included in this press release is
made as of the date of this press release and the Company
undertakes no obligation to publicly update or revise any
forward-looking information, other than as required by applicable
law.
The securities referred to in this news release
have not been, nor will they be, registered under the United
States Securities Act of 1933, as amended, and may not be offered
or sold within the United States or to, or for the account or
benefit of, U.S. persons absent U.S. registration or an applicable
exemption from the U.S. registration requirements. This news
release does not constitute an offer for sale of securities, nor a
solicitation for offers to buy any securities. Any public offering
of securities in the United States must be made by means of a
prospectus containing detailed information about the company and
management, as well as financial statements.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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