- Completed a $1,250,000 equity investment by HT Overseas Pte. Ltd., a wholly owned subsidiary of HT Media Limited, for the purchase of 1,623,376 common shares of the Corporation at $0.77 per share
- As previously announced on December 21, 2017,
- HT’s $10 million investment is provided to betterU in eight (8) tranches over two years, this being the 2nd tranche to be used exclusively to support betterU’s mass marketing efforts, visibility and learner attainment across India
OTTAWA, May 28, 2018 — betterU Education Corp. (TSX-V:BTRU) (FRANKFURT:5OGA), (the “Corporation†or “betterUâ€), is pleased to announce it has completed a $1,250,000 equity investment by HT Overseas Pte. Ltd., a wholly owned subsidiary of HT Media Limited, (“HTâ€) for the purchase of 1,623,376 common shares of the Corporation at $0.77 per share (the “Private Placementâ€). As previously announced on December 21, 2017, HT’s $10 million investment is provided to betterU in eight (8) tranches over two years, this being the 2nd tranche to be used exclusively to support betterU’s mass marketing efforts, visibility and learner attainment across India.
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betterU has seen a significant spike in the visitors to www.betterU.in platform from several thousand to several hundred thousand first generated from the print campaigns launched back late February 2018 during the Prime Minister of Canada’s visit to India. betterU has continued to run campaigns driving awareness for their KG-12 programs, Skills Development programs and betterU brand development initiatives.
Visibility and consistency in messaging and exposure is critical for the development of betterU’s brand. Leveraging Hindustan Times’ investment, betterU will continue to drive market awareness to the breadth and depth of the educational and employment services it has available on its platform. “It is exciting to see our campaigns coming together and over the weeks and months to come, betterU will also be launching targeted campaigns focused on market conversion.†said Angela Lariviere, Chief Marketing Officer at betterU.
About HT and HT Group
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’s vision is to help foster the equalization of education for all by bridging the prevailing gap in the education and job industry and enhance the lives of its 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 https://ir.betteru.ca/investor-overview/press-releases/
better Education Corp.
Brad Loiselle, CEO
On behalf of the Board of Directors
For further information:
Investor Relations
1-613-695-4100 Ext. 233
Email: [email protected]
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/5151ff33-c5e5-4377-b614-522b07d3ac09
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