OTTAWA, Dec. 01, 2017 (GLOBE NEWSWIRE) -- betterU Education Corp. (TSX-V:BTRU) (FRANKFURT:5OGA), (the
“Corporation” or “betterU”), has agreed with Hindustan Times to extend the deadline date from December 1st, 2017 as
outlined in the Letter of Intent announced October 3rd, 2017 to a closing date on or before December 15th,
2017 for the Definitive Agreement with HT Overseas Pte. Ltd., a wholly-owned subsidiary of HT Media Limited (“HT”). The delay for
completion of the Definitive Agreement is related to the recent halt of the Corporation’s shares which have be released for trading
today.
Up to $10 Million in media investment will to be utilized over 2 years to provide betterU’s marketplace with an
increased visibility and brand awareness to millions of people across India. The Corporation is expected to start using the first
tranche of $1.25 million in marketing dollars January 2018.
The proposed media investment will be made in eight (8) equal tranches of CAD $1.25 Million. Each Tranche shall
result in HT receiving common shares (the "Shares") in the capital of betterU from treasury. The Shares shall be issued at a price
equal to the volume weighted average price of the Shares on the facilities of the TSX Venture Exchange ("TSXV"), calculated by
dividing the total value by the total volume of Shares traded for the thirty (30) days ending on the day which is one trading day
prior to the date of issuance, or such higher price as the TSXV may require.
The obligations of HT and betterU to complete the proposed media investments are subject to approval from TSXV for each of the
individual tranche transactions.
About HT Media
HT Group has built a Pan India reach via its various print, radio and digital properties. The combined reach is
an astonishing ~10% of Indian population. In print alone, HT Group’s Hindustan Times (English medium); Hindustan (Hindi medium),
Mint (English Business daily) give a combined readership of over 29.9 million. This readership is multiplied significantly through
HT’s radio channels (104 Fever and 107.2 Nasha) which have dedicated audience of over 21.7 million in Delhi, Kolkata, UP,
Bangalore, Chennai, Hyderabad and the Indo Gangetic belt. This is further complemented by HT’s digital presence including
hindustantimes.com; livehindustan.com; livehindustan.com; desimartini.com and shine.com.
Geographically, HT Group has the following reach:
- In West, HT is able to reach 7 million population in Mumbai through their highly recognised Brands in Print(HT/Mint),
Radio(Fever/Nasha) & Digital.
- In North, HT Group’s mediums directly touch “8 out-of every 10” population in Delhi NCR. Print
readership of around 4.3 million complemented by leading radio channels such as 104 Fever and 107.2 (giving an additional
audience of 8.1 million) makes HT Group a clear leader in the Delhi NCR region.
Hindustan Times is an Indian English-language daily newspaper founded in 1924 and the flagship publication of
HT Media. Hindustan Times is one of the largest newspapers in India, by circulation. According to the Audit Bureau of Circulations and it has a
circulation of 1.16 million copies as of November 2015. HT is one of the top most widely read English newspaper in India. It is
popular in North India, with simultaneous editions from New Delhi, Mumbai, Kolkata, Lucknow, Patna, Ranchi and Chandigarh.
About betterU
betterU, a global education marketplace, aims to provide access to quality education from around the world to
foster growth and opportunity to those who want to better their lives. The company plans to bridge the prevailing gap in the
education and job industry and enhance the lives of its prospective learners by developing an integrated education-to-employment
ecosystem. betterU’s offerings can be categorized into several broad functions: to compliment school programs with flexible KG-12
programs preparing children for next stage of education, to provide access to global educational opportunities from leading
educators, to foster an exceptional educational environment by providing befitting skills that lead to a better career, to bridge
the gap between one’s existing education and prospective job requirement by training them and lastly, to connect the end user to
various job opportunities.
www.betterU.ca and www.betterU.in
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. Certain statements in this release are
forward-looking statements, which include completion of the proposed Investment, the anticipated use of the proceeds of the
Investment, the development and expansion of betterU’s operations, and other matters. There can be no assurance that the Investment
will be completed as proposed or at all. Forward-looking statements consist of statements that are not purely historical, including
any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be
identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and
"continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking
statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their
nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and
specific, which contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking
statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in
general and capital markets in particular, the development of competitive technologies, the marketplace acceptance of betterU’s
products, and other factors, many of which are beyond the control of betterU. Forward-looking statements contained in this press
release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release.
Except as required by law, betterU disclaims any intention and assumes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise. Additionally, betterU undertakes no obligation to
comment on the expectations of, or statements made by, third parties in respect of the matters discussed above. Further information
on betterU’s public filings, including their most recent audited consolidated financial statements, are available at www.sedar.com.
For further information, please visit http://www.betteru.ca/investor-overview/
Brad Loiselle
President and CEO
1-613-695-4100 Ext. 233
Email: ir@betteru.ca
Investor contact:
Gurinder Sandhu
Investor Relations
1-613-695-4100 Ext. 233
Email: ir@betteru.ca
