BetterU acquires $500K through private placement to boost working capital

BetterU Education Corp. has recently announced the closing of its non-brokered private placement to raise up to a maximum of $500,000 through the issuance of 10,000,000 units at a price of $0.05 per unit previously announced May 18 and June 4, 2019.  The private placement was fully subscribed.

Each unit consists of a Common share and a ½ warrant (“Unit”). Each full warrant can be exercised for two years at a price of $0.15. A finder’s fee of 7% in cash and 7% in warrants and can be exercised for 12 months at a price of $0.25 may be paid on a portion of the private placement (“Finders’ Warrants”).

Finders’ fees of $6,020 were paid by the Company and 120,400 Finders’ Warrants were issued.

The proceeds will be used for working capital purposes supporting the Company’s efforts towards revenue generation and closing of investments currently in the pipeline.

This financing and all securities proposed to be issued there under are subject to the acceptance of the TSX Venture Exchange. All securities issued under the private placement are subject to a four month and one-day hold period from date of issuance.

SOURCE BetterU

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