OTTAWA, July 24, 2020 (GLOBE NEWSWIRE) — betterU Education Corp. (TSX VENTURE: BTRU, Frankfurt: 5OGA) (the “Company” or “betterU”) announces that, as a result of delays caused by the COVID-19 pandemic, the Company will be postponing the filing of its annual consolidated financial statements and accompanying management’s discussion and analysis and related CEO and CFO certificates for the financial year ended March 31, 2020 (collectively, the “Annual Filings”), which are required to be filed by July 29, 2020 under National Instrument 51-102 – Continuous Disclosure Obligations.
On May 20, 2020, the Canadian Securities Administrators (CSA) published blanket orders extending deadlines by 45 days for documents required to be filed or delivered by non-investment fund issuers between June 2 and August 31, 2020, to allow issuers the time needed to focus on the many other business and financial reporting implications of the COVID-19 pandemic.
The Company will rely on this exemption with respect to the Annual Filings in accordance with Ontario Instrument 51-505 –Temporary Exemption from Certain Corporate Finance Requirements with Deadlines during the Period from June 2 to August 31, 2020 (“51-505”). The Company is continuing to work diligently and expeditiously to complete and file the Annual Filings and currently expects to have them filed on or prior to the extended filing deadline of Sept 14, 2020. The Company expects to thereafter deliver the annual financial statements before, or in conjunction with, the delivery of its management information circular for its next annual general meeting as permitted by 51-505.
Until the Annual Filings are filed, management and other insiders of the Company continue to be subject to a trading black-out policy that reflects the principles in section 9 of National Policy 11-207 – Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
The Company confirms that since the filing of its condensed consolidated interim financial statements for the period ended December 31, 2019, there have been no material business developments other than those that have been publicly disclosed as required under applicable securities laws and stock exchange requirements.
About betterU Education Corp.
betterU is an education-to-employment technology company offering an end-to-end solution leveraging business intelligence to automate skilling, reskilling and upskilling for companies operating on domestic and global scales.
betterU has integrated into its platform the content, technology and support for tailored skills assessments, learning pathways and training modules from 100+ of the world’s leading online education providers. betterU’s eco-system includes detailed job, skill, employer, and educational profiles spanning 3,000+ standardized jobs. betterU’s integrated platform is the most efficient solution to address evolving skilling challenges for employers and employees through the employment lifecycle from entry level to executive. We don’t sell content, we help build better people.
For more information, please visit https://corporate.betteru.ca/corporate-gov/
Brad Loiselle, CEO
betterU Education Corp.
Email: [email protected]
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