OTTAWA, Oct. 30, 2018 – betterU Education Corp. (TSX VENTURE: BTRU, Frankfurt: 5OGA) (the “Company”) announces that it has received an update from GDS Holdings Ltd indicating that they have completed the Amendment as described in a new release issued by the Company on September 26th, 2018.
According to a written update provided to betterU on October 28th, 2018 by Mr. Kenny Ho, CFO and Chairman of TUC Co. Ltd., (“TUC”) Mr. Ho indicated that he arrived in Tokyo, Japan to review the amendments on Wednesday, October 17th and that they completed the required documents on Friday, October 19th. Mr. Ho further indicated in writing to betterU that he has decided to remain in Tokyo until the funds have been released. Mr. Ho expects there will be no further delays yet has not provided betterU with definitive timelines for the release of funds. While Mr. Ho also indicated that he expects the funds to be released shortly, betterU is reluctant to commit to any dates having experienced many previous delays. “While we remain confident in this opportunity, the ongoing delays and missed timelines provided by TUC have proven to be difficult in managing market expectations. Our focus has been and continues to be on the development and growth of betterU,” said Brad Loiselle, President/CEO of betterU.
As previously announced on October 15th, 2018, betterU entered into an agreement with AIP Asset Management Inc., (AIP) for an investment of $2.5 million to support ongoing operations and growth until the TUC funding is received. AIP and betterU are currently working through all the definitive agreements in connection with this.
NEITHER THE 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 NEWS RELEASE.
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 complement 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.
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.
On behalf of the Board of Director,
betterU Education Corp.
Brad Loiselle, CEO