OTTAWA, Oct. 03, 2017 — betterU Education Corp. (TSX-V:BTRU) (FRANKFURT:5OGA), (the “Corporation” or “betterU”), is pleased to announce that it has entered into a non-binding letter of intent (“LOI”) with HT Overseas Pte. Ltd., a wholly-owned subsidiary of HT Media Limited (“HT”), an Indian media conglomerate. Up to $10 Million media investment will to be utilized over 2 years to provide betterU’s marketplace with an increased visibility and brand awareness to millions of people across India.
In a market as large as India, with over 1.3 billion people, ‘visibility’ can be as important as the products or services being offered. Mass media visibility is critical to building brands, trust, awareness and credibility. The addition of the HT’s media investment, which is strong in the North of India, will increase the support betterU requires to advance its efforts in India. “betterU’s global education partnerships have been growing significantly over the last year and this media deal will help reach many new learners across the country. Visibility across India is critical to our success in generating credibility and learner acquisition. We are excited that HT will be part of helping us achieve success for India,” said Brad Loiselle, President and CEO of betterU.
The proposed media investment will be made in eight (8) equal tranches of CAD $1.25 Million. Each Tranche shall result in HT receiving common shares (the “Shares”) in the capital of betterU from treasury. The Shares shall be issued at a price equal to the volume weighted average price of the Shares on the facilities of the TSX Venture Exchange (“TSXV”), calculated by dividing the total value by the total volume of Shares traded for the thirty (30) days ending on the day which is one trading day prior to the date of issuance, or such higher price as the TSXV may require.
The obligations of HT and betterU to complete the proposed media investment are subject to conditions including, but not limited to: (i) the execution of a definitive agreement; (ii) satisfactory due diligence; (iii) approval from TSXV of the transaction; and (iv) other customary closing conditions.
About HT Media
HT Group has built a Pan India reach via its various print, radio and digital properties. The combined reach is an astonishing ~10% of Indian population. In print alone, HT Group’s Hindustan Times (English medium), Hindustan (Hindi medium), Mint (English Business daily) give a combined readership of over 29.9 million. This readership is multiplied significantly through HT’s radio channels (104 Fever and 107.2 Nasha) which have dedicated audience of over 21.7 million in Delhi, Kolkata, UP, Bangalore, Chennai, Hyderabad and the Indo Gangetic belt. This is further complemented by HT’s digital presence including hindustantimes.com, livehindustan.com, livehindustan.com, desimartini.com shine.com.
Geographically, HT Group has the following reach:
- In West, HT is able to reach 7 million population in Mumbai through their highly recognised Brands in Print(HT/Mint), Radio(Fever/Nasha) & Digital.
- In North, HT Media Group is an undisputed leader in Delhi NCR. Print readership of around 4.3 million complemented by leading radio channels such as 104 Fever and 107.2 (giving an additional audience of 8.1 million) makes HT Group a clear leader in the Delhi NCR region.
Hindustan Times is an Indian English-language daily newspaper founded in 1924 and the flagship publication of HT Media. Hindustan Times is one of the largest newspapers in India, by circulation. According to the Audit Bureau of Circulations and it has a circulation of 1.16 million copies as of November 2015. HT is one of the top most widely read English newspaper in India. It is popular in North India, with simultaneous editions from New Delhi, Mumbai, Kolkata, Lucknow, Patna, Ranchi and Chandigarh.
betterU, a global education marketplace, 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 four broad functions: to compliment school programs with flexible KG-12 programs preparing children for 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.
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.
The photo is also available via AP PhotoExpress.