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  • BlueRush (BTV) has announced the receipt of irrevocable subscription agreements for a total of US$2,898,995.15 of convertible debenture units for its non-brokered private placement
  • The offering consists of up to 5,000 convertible debenture units at a price of US$1,000 (C$1,000) per convertible debenture unit, for aggregate gross proceeds of up to US$5,000,000 (C$6,289,500)
  • Upon the end of the offering, BlueRush hopes to call a special shareholders’ meeting to seek shareholder approval for the consolidation of its common shares
  • The company hopes to use the net proceeds from the offering for general working capital
  • BlueRush Inc offers software as a service-based content engagement platform
  • Bluerush Inc. was unchanged at C$0.045 as at 1:58 PM ET

BlueRush (BTV) has received subscription agreements of US$2,898,995.15 of convertible debenture units for its non-brokered private placement.

The offering consists of ‎up to 5,000 convertible debenture units at a price ‎of ‎US$1,000 (C$1,000) per convertible debenture unit, for aggregate gross proceeds of up to ‎‎US$5,000,000 ‎‎(C$6,289,500).

Each convertible debenture unit comprises US$1,000 ‎(C$1,000) principal ‎amount of ‎‎a 10.0 per cent unsecured convertible debenture and ‎‎12,500 (10,000 per convertible debenture unit purchased for C$1,000 per convertible ‎debenture unit) common share purchase warrants of the company.

Each warrant ‎entitles the holder to acquire one ‎additional common share ‎at a price of US$0.075 ‎‎(C$0.094) ‎per share ‎until the date that is 48 months from the closing of the offering.‎

Each convertible debenture shall mature on the date, which is 48 months from the closing of the offering and will be convertible into common shares of the company at a conversion price of US$0.04 (C$0.05) per common share.

Consequently, when the offering comes to an end, the company hopes to call a special shareholders’ meeting to seek shareholder approval for the consolidation of its common shares.

The company hopes to use the net proceeds from the offering for general working capital.‎

BlueRush develops and markets IndiVideo, a disruptive, award-winning interactive, personalized video platform that drives return on investment throughout the customer lifecycle, from increased conversions to more engaging statements and customer care.

BlueRush Inc. was unchanged at C$0.045 as at 1:58 PM ET.


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