TORONTO, Nov. 19, 2018 (GLOBE NEWSWIRE) — BlueRush Inc. (“BlueRush” or the “Company”) (TSXV:BTV), a leading SaaS company providing personalized solutions for innovative financial institutions, is pleased to announce it has entered into a consulting agreement with Bay Street Communications to provide general investor relations consulting services for an initial term of six months, at which time either party may terminate the agreement upon 30 days’ notice. Bay Street Communications, is an independent Investor Relations and Corporate Communications consulting firm based in Toronto, Ontario. Bay Street Communications will be paid a monthly fee of $4,000. The Company and Bay Street Communications act at arm's length, and Bay Street Communications has no present interest, directly or indirectly, in the Company or its securities. The fee paid by the Company to Bay Street Communications is for services only. The consulting agreement is subject to approval of the TSX Venture Exchange (the “TSXV”).
In addition, the Company has entered into an agreement with an arm’s length consultant to provide financial, strategic and other advisory work to BlueRush for a term of 24 months, in consideration for warrants exercisable at $0.105 for up to 600,000 common shares of the Company for a period of 24 months. The issuance of warrants pursuant to the consulting agreement is subject to approval of the TSXV and upon issuance will be subject to a four month hold period.
BlueRush also announces that its board of directors has approved the grant of 200,000 stock options to Bay Street Communications at an exercise price of $0.20 per common share expiring on November 16, 2020, and 50,000 stock options to an officer of the Company at an exercise price of $0.15 per common share expiring on November 16, 2023.
About BlueRush and IndiVideo
BlueRush is uniquely positioned within the online video market. Video is the fastest growing online content segment, with leading analysts predicting that more than 80% of content will be consumed as video by 2021. BlueRush develops and markets a disruptive interactive and personalized video platform called IndiVideo. IndiVideo utilizes proprietary technology that allows for two unique advantages over competitors’ personalized video technologies: (1) lower cost to mass-scale personalized videos; and (2) ability to deploy behind any corporate firewall for increased security. These advantages are critical because they allow marketing departments to control their distribution costs, and because deploying behind the firewall provides increased security as well as greater connectivity to client data.
BlueRush has a particular focus on delivering measurable value to the Financial Services vertical in areas such as mortgage, loan and credit card origination, as well as supporting Pension Fund and Insurance use cases. IndiVideo is integrated with BlueRush’s SaaS-based content engagement platform, DigitalReach, which delivers improved sales conversion metrics for more than 75,000 financial advisors in some of the world’s most respected financial institutions. The combination of IndiVideo and DigitalReach is unique in the marketplace and provides BlueRush with a differentiated value proposition. For more information, please visit www.bluerush.com.
For further information please contact:
Steve Taylor, CEO
Dave Badun, CFO
Certain statements contained in this press release constitute ‘forward-looking information’ as such term is defined in applicable Canadian securities legislation. The words ‘may’, ‘would’, ‘could’, ‘should’, ‘potential’, ‘will’, ‘seek’, ‘intend’, ‘plan’, ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’ and similar expressions as they relate to the Company, including the engagement of Bay Street Communications and issuance of warrants under the consulting agreement, are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions. Material factors or assumptions were applied in providing forward-looking information, including receipt of necessary TSXV approvals. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include, without limitation: the TSXV not providing the necessary approvals for one or more of the transactions contemplated herein; changes in law; the ability to implement business strategies and pursue business opportunities; state of the capital markets; the availability of funds and resources to pursue operations; a novel business model; dependence on key suppliers and local partners; competition; the outcome and cost of any litigation; as well as general economic, market and business conditions, as well as those risk factors discussed or referred to in disclosure documents filed by the Company with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward -looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law. The Company’s results and forward-looking information and calculations may be affected by fluctuations in exchange rates.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.