betterU Education Corporation Stock Halt Update OTTAWA, Nov. 14, 2017 (GLOBE NEWSWIRE) -- betterU Education Corp. (TSX-V:BTRU) (FRANKFURT:5OGA), (the “Corporation” or “betterU”), would like to provide an update in regards to the extended stock halt from trading of betterU.
On October 19th, 2018 at the request of the Corporation, management of betterU contacted the Investment Industry Regulatory Organization of Canada (IIROC) and the TSXV with details of a pending press release. Due to the significantly material nature of the proposed financing, the Corporation decided to ensure that all governing bodies should be involved in the understanding of the deal prior to any detailed market disclosures. As the binding letter of Intent was considered material, it was determined by the board that it needed to be announced, subject to additional validations.
Over the last three weeks, the Corporation’s leadership has been working with the TSXV in outlining the nature of the deal, how the opportunity came about, providing details for who the participants involved are, validation of fund capacity of the investor and what the required disclosers of the business and the announcement for the market should include. Currently the Corporation is completing final validation. These efforts made are for the best interest of the market and the Corporation’s shareholders. It is part of our responsibility to ensure validation for any such significant material news that can affect positively or negatively in the market.
The Corporation is expecting that the halt to the stock will be lifting shortly and that the business will continue forward as normal.
No $100 million here but this stated there was. Brad will be facing charges