BlueRush Receives Funding From Largest Shareholder
03 Abril 2024 - 6:21AM
BlueRush Inc. ("
BlueRush" or the
"
Company") (TSXV:BTV; OTCQB:BTVRF), a
personalized video Software as a Service ("
SaaS")
company, today announced that BlueRush Digital Media Corp., the
wholly owned operating subsidiary of the Company, has issued a
promissory note dated April 2, 2024 for principal amount of
$180,000 (the “
Note”) in favour of Round 13
Founders Fund SPV, L.P. (the “
Lender”). Round 13
Capital Inc., the general partner of the Lender, is also the
general partner of Round 13 Capital Founders Fund, L.P., which
owns approximately 29% of the issued and outstanding shares of
BlueRush.
The Note accrues interest at 10% per annum for
four (4) months from issuance of the Note and then at 14% per annum
at all times thereafter. All amounts payable under or pursuant to
the Note shall be due and payable in full on the earlier of (a)
three (3) business days of receipt by the Borrower of SR&ED
claims, or (b) four (4) months from issuance of the Note.
The loan by the Lender to the Borrower may be
deemed to be a “related party transaction” as defined under
Multilateral Instrument 61-101 (“MI 61-101”).
The transaction is exempt from the formal valuation approval
requirements of MI 61-101 since none of the securities of the
Company are listed on a prescribed stock exchange. The transaction
is exempt from the minority shareholder approval requirements of MI
61-101 since it is a prescribed loan as contemplated in 5.7(f) of
MI 61-101.
About BlueRush
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 lifecycle, 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.
For more information visit https://www.bluerush.com.
For further information please contact:
Steve TaylorChief Executive OfficerBlueRush
Inc.Tel: 416-457-9391Email: steve.taylor@bluerush.com
Kendra BorutskiDirector of MarketingBlueRush
Inc.Email: kendra.borutski@bluerush.com
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