OTTAWA, Oct. 02, 2019 (GLOBE NEWSWIRE) -- betterU Education Corp. (TSX VENTURE: BTRU, Frankfurt: 5OGA) (the "Company" or "betterU") is providing this update as they had requested an extension of the MCTO to October 18, 2019. Due to the timing of the Company’s appointment of BDO as auditors, the completion of the audit is still ongoing. The Company named BDO Canada as their auditor on August 2nd, 2019 after being informed by its previous auditors that they would not be in a position to complete the audit. betterU and BDO Canada continue to work collaboratively in completing the audit as soon as possible.
The Corporation has been advised by the Ontario Securities Commission (“OSC”) that an extension of the MCTO will not be granted. The Corporation expects a Full and Final Cease Trade Order (“FFCTO”) will be issued by the OSC. It is expected that the FFCTO will be lifted once all outstanding audited financial documents are filed. During the FFCTO, the general investing public will not be able to trade in the Company’s listed common shares.
OSC is issuing a Management Cease Trade Order (“MCTO”) against the Corporation for failure to file the following by July 29, 2019:
- audited annual financial statements for the year ended March 31, 2019;
- management's discussion and analysis relating to the audited financial statements for the year ended March 31, 2019; and
- certification for the audit financial statements for the year ended March 31, 2019.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.
About betterU Education Corp.
betterU, a global education to employment platform, 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 preschool, KG-12 programs preparing children for next stage of education, to provide access to global and localized educational programs 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.
betterU today has partnered with over 75 global educators, representing access to over 53,000 programs. It is developing technology and ongoing more partners required to support the growing education needs of the world.
For more information, please visit www.betterU.in
Contact:
Brad Loiselle, CEO
better Education Corp.
Investor Relations
1-613-695-4100
Email: ir@betteru.ca
This press release may contain forward-looking statements and information, which may involve risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors that might cause a difference include, but are not limited to, competitive developments, risks associated with betterU’s growth, the state of the financial markets, regulatory risks and other factors. There can be no assurance or guarantees that any statements of forward-looking information contained in this release will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral statements containing forward-looking information are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Unless otherwise required by applicable securities laws, betterU disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise. Readers should not place undue reliance on any statements of forward-looking information that speak only as of the date of this release. Further information on betterU’s public filings, including their most recent audited consolidated financial statements, are available at www.sedar.com.
