TORONTO, ONTARIO--(Marketwired - Dec. 13, 2017) - BLUERUSH Media Group Corp. (the 'Company') (TSX VENTURE:BTV) is pleased to announce the appointment of Mr. Steve Taylor, a current director of the Company, as the new Chief Executive Officer of the Company, and the appointment of John Eckert, a co-founder of Round 13 Capital, as a new director of the Company.
Mr. Eckert co-founded Round 13 Capital to focus on growth stage investing in information technology companies. In 1994, Mr. Eckert co-founded McLean Watson Capital, a technology venture capital firm in Canada. He is a past President and Chair of the Canadian Venture Capital Association.
Larry Lubin, will remain the President and a director of the Company. Jim Moriarty, a director of the Company since 2007, has graciously resigned to make room for Mr. Eckert.
Steve Taylor said, 'Since getting involved in Bluerush I have become increasingly impressed with the team and the market opportunity for the Digital Reach and Individeo platforms. We are now beginning to put the sales, marketing and R&D elements in place to accelerate the transformation of Bluerush into a SaaS business.'
'I am very excited to have Steve Taylor on board as the CEO and John Eckert join our Board. Steve has been instrumental in helping us develop a roadmap that will help us grow our recurring revenues and he will be in an even better position to drive this as the CEO,' said Mr. Lubin.
'Round 13 looks for great businesses where we can add our experience and resources to accelerate growth. Bluerush fits this bill and we are ready to do everything we can to make this a great Canadian success story,' added John Eckert.
In addition, the board of directors of the Company has approved an option grant of 3,500,000 stock options, expiring in 5 years, to certain directors at an exercise price of $0.10. All options will be subject to a four month hold.
Mr. Taylor will receive 2,500,000 of the options representing 4.2% of the currently issued and outstanding common shares of the Company (assuming exercise of the options).
Immediately before the option issuance, Mr. Taylor held, directly or indirectly, beneficial ownership of, or the power to exercise control or direction over, 4,912,853 common shares and warrants exercisable for 4,700,853 common shares of the Company, representing 8.6% of all of the issued and outstanding common shares of the Company on a non-diluted basis and representing 15.6% of all of the issued and outstanding common shares of the Company assuming full exercise of Mr. Taylor's warrants.
Immediately after the option issuance, Mr. Taylor will hold, directly or indirectly, beneficial ownership of, or the power to exercise control or direction over, 4,912,853 common shares and convertible securities exercisable for 7,200,853 common shares of the Company, representing 8.6% of all of the issued and outstanding common shares of the Company on a non-diluted basis and representing 18.9% of all of the issued and outstanding common shares of the Company assuming full exercise of Mr. Taylor's convertible securities.
The options are being acquired for investment purposes. Mr. Taylor may increase or reduce his investment in the Company according to market conditions or other relevant factors.
The foregoing disclosure regarding Mr. Taylor's holdings is being disseminated pursuant to National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ('NI 62-103'). A copy of the report to be filed with Canadian securities regulators in connection with the acquisition of these securities can be obtained upon its filing under the Company's profile on the SEDAR website (www.SEDAR.com) or by contacting the Mr. Taylor at email@example.com.
About BLUERUSH Media Group Corp.
The Company, through its wholly owned subsidiary, BLUERUSH Digital Media Corp., offers a SaaS-based marketing and sales enablement platform that enables organizations to achieve greater engagement with their customers. Its flagship product, DIGITAL REACH, provides personalization, distribution and tracking of content to ensure control over what content is distributed to whom. BLUERUSH recently launched INDIVIDEO™, a highly scalable personalized video platform to provide AI-driven video content in an easy to understand, entertaining, and compelling manner. The Company's suite of products is proven to improve marketing and sales performance and, generate greater client satisfaction and loyalty. The Company is publicly listed on the TSXV trading under the symbol 'BTV'.
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, 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: final TSXV approval of the management changes and option issuance. 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: 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.
BLUERUSH Media Group Corp.
Chief Executive Officer
(416) 203-0618 ext.264
BLUERUSH Media Group Corp.
(416) 203-0618 ext.225