TORONTO, May 31, 2022
/CNW/ - BlueRush Inc. ("BlueRush" or the "Company")
(TSXV: BTV) (OTCQB: BTVRF), an emerging personalized video creation
Software as a Service ("SaaS") company, announces that it
has closed its previously announced private placement (the
"Offering") of units of the Company (the "Units") at
a price of $0.064 (equivalent to
US$0.05) per Unit. The Company
issued, on a non-brokered private placement basis to Canadian
investors, an aggregate of 8,434,375 Units for gross proceeds of
$539,800. Each Unit consists of (i)
one common share of the Company, and (ii) one-half of one
transferable share purchase warrant, with each whole warrant
entitling the holder thereof to acquire one common share of the
Company Share at a price of $0.096
(equivalent to US$0.075) per share
until forty-eight (48) months following closing, subject to
acceleration.
In connection with the closing, the Company paid Canaccord
Genuity Corp. a cash finders fee equal to $2,800 and issued them 43,750 broker warrants
with each such broker warrant exercisable for one common share of
the Company at $0.064 per share for
sixty (60) months.
All securities issued pursuant to the Offering are subject to a
statutory hold period of four months and one day from the date of
issuance.
About BlueRush
BlueRush develops and markets IndiVideo™, a disruptive,
award-winning interactive personalized video platform that drives
return on investment throughout the customer lifecycle, from
increased conversions to more engaging statements and customer
care. IndiVideo enables BlueRush clients to capture knowledge and
data from their customers' video interaction, creating new and
compelling data driven customer insights.
Forward-Looking
Statements
Certain statements contained in this press release may
constitute "forward-looking information" as such term is defined in
applicable Canadian securities legislation. The words "may",
"would", "could", "should", "potential", "will", "seek", "intend",
"plan", "anticipate", "believe", "estimate", "expect" and similar
expressions as they relate to the Company, including: statements
with respect to the Offering; are intended to identify
forward-looking information. All statements other than statements
of historical fact may be forward-looking information. Such
statements reflect the Company's current views and intentions with
respect to future events, and current information available to the
Company, and are subject to certain risks, uncertainties and
assumptions. Material factors or assumptions were applied in
providing forward-looking information. Many factors could cause the
actual results, performance or achievements that may be expressed
or implied by such forward-looking information to vary from those
described herein should one or more of these risks or uncertainties
materialize. These factors include, without limitation: changes in
law; the ability to implement business strategies and pursue
business opportunities; state of the capital markets; the
availability of funds and resources to pursue operations; a novel
business model; dependence on key suppliers and local partners;
competition; the outcome and cost of any litigation; the general
impact of COVID-19 pandemic, as well as general economic, market
and business conditions, as well as those risk factors discussed or
referred to in disclosure documents filed by the Company with the
securities regulatory authorities in certain provinces
of Canada and available at www.sedar.com .
Should any factor affect the Company in an unexpected manner, or
should assumptions underlying the forward-looking information prove
incorrect, the actual results or events may differ materially from
the results or events predicted. Any such forward-looking
information is expressly qualified in its entirety by this
cautionary statement. Moreover, the Company does not assume
responsibility for the accuracy or completeness of such
forward-looking information. The forward-looking information
included in this press release is made as of the date of this press
release and the Company undertakes no obligation to publicly update
or revise any forward-looking information, other than as required
by applicable law.
Neither 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 release.
SOURCE BlueRush Inc.