Hunter Family Trust

March 20, 2017 16:31 ET

UPDATE: Hunter Family Trust Early Warning Report - betterU Education Corp.

OTTAWA, ONTARIO--(Marketwired - March 20, 2017) - Further to the early warning report filed by Scott Hunter, as Trustee for the Hunter Family Trust (the "Offeror") of 1145 Hunt Club Rd. Ottawa, ON dated March 13, 2017 advising of his holdings in betterU Education Corp. (the "Issuer"), the accompanying news release contained erroneous information. The following new release reflects the contents of the early warning report:

On March 3, 2017 the Offeror acquired control of 6,000,000 common shares in the capital of the Issuer (the "Shares") representing approximately 12.12 % of the issued and outstanding Shares on a non-diluted basis. The common shares were issued to the Offeror in exchange for 1,500,000 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 $2,010,000.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.

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.

Contact Information

  • Scott Hunter
    Trustee for the Hunter Family Trust
    1145 Hunt Club Rd
    Ottawa, ON
    K1V 0Y3