12:04:41 EDT Mon 02 Jun 2025
Enter Symbol
or Name
USA
CA



Bluerush Inc (2)
Symbol BTV
Shares Issued 35,528,791
Close 2024-06-13 C$ 0.01
Market Cap C$ 355,288
Recent Sedar Documents

Bluerush arranges $1.02-million unit financing

2024-06-18 10:21 ET - News Release

Mr. Steve Taylor reports

BLUERUSH ANNOUNCES PROPOSED NON-BROKERED PRIVATE PLACEMENT

Bluerush Inc. has arranged a non-brokered private placement financing, pursuant to which Bluerush proposes to raise gross proceeds of up to $1.02-million through the issuance of up to 68 units of the company at $15,000 per unit. Each unit shall consist of: (i) 500,000 common shares of the company at a deemed price of two cents per common share; (ii) 500,000 transferable common share purchase warrants, with each warrant entitling the holder thereof to acquire one additional common share at a price of five cents until the date that is 60 months from the closing; and (iii) a $5,000 principal amount 10 per cent unsecured convertible debenture, with each convertible debenture maturing on the date which is 60 months from closing and convertible into common shares at a conversion price of five cents per common share in the first year and 10 cents per common share from year 2 to year 5.

The net proceeds of the offering will be used by the company for working capital and to address certain aged payables. Except for salaries paid in the ordinary course, none of the proceeds will be used for payments to non-arm's-length parties (as such term is defined by the TSX Venture Exchange) of the company. In addition, the company will not use more than 10 per cent of the proceeds toward investor relations activities (as such term is defined by the TSX-V).

In connection with the issue and sale of the units pursuant to the offering, the company may pay registered dealers and finders a cash commission equal to 8 per cent of the aggregate gross proceeds under the offering.

All securities issued pursuant to the offering will be subject to a four-month hold period pursuant to securities laws and the policies of the TSX-V. The closing of the offering is subject to, amongst other things, prior approval of the TSX-V.

About Bluerush Inc.

Bluerush, through its wholly owned operating subsidiary, builds and delivers products and services that engage customers in the digital channels. Bluerush's flagship product, IndiVideo, is a disruptive, award-winning interactive, personalized video platform that drives return on investment throughout the customer life cycle, 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.

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