OTTAWA, ONTARIO--(Marketwired - March 22, 2017) - Bradley Loiselle (the "Offeror") of 1145 Hunt Club Rd. Ottawa, ON has filed an early warning report dated March 22, 2017 advising of his holdings in betterU Education Corp. (the "Issuer").
On March 3, 2017 the Offeror acquired control of 15,000,000 common shares in the capital of the Issuer (the "Shares") representing approximately 30.30 % of the issued and outstanding Shares on a non-diluted basis. Of the 15,000,000 common shares acquired by the Offeror, 1,000,000 are registered in his name and 14,000,000 are registered in the name of the Loiselle Family Trust, of which he is a trustee. The common shares were issued to the Offeror in exchange for 3,750,0000 shares in the capital of Skillsdox Inc., a private corporation incorporated under the laws of Canada ("Skillsdox"). For the purpose of the transaction, such shares were assigned a deemed value of $1.34 per share, resulting in a deemed aggregate value of the common shares of $5,025,000 pursuant to a Securities Exchange Agreement among the Issuer, Skillsdox and the Offeror, among other securityholders of Skillsdox, dated February 21, 2017 for the acquisition of all the issued and outstanding shares in the capital of Skillsdox.
This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions containing additional information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with the Issuer's documents on the SEDAR website at www.sedar.com. A copy of the Early Warning Report may also be obtained by contacting the Issuer's corporate office located at 1145 Hunt Club Rd, Ottawa, ON K1V 0Y3.
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