TORONTO, Sept. 26, 2018 (GLOBE NEWSWIRE) -- BlueRush Inc. (“BlueRush” or the “Company”) (TSXV:BTV), announced today a proposed non-brokered private placement financing pursuant to which BlueRush proposes to raise gross proceeds of up to $2,000,000 through the issuance of unsecured convertible debentures (the “Debentures”). The Notes will accrue interest at a rate of 10% per annum and will mature on October 31, 2023 (the “Maturity Date”). Accrued interest for year one will be paid on the Maturity Date with interest on the Notes being payable quarterly starting in year two. Accordingly, the first interest payment date shall be on January 31, 2020. In the event the volume-weighted average trading price of the common shares of the Company (the “Common Shares”) is greater than $0.25 for 20 consecutive trading days at any time following October 31, 2019, the Company shall have the option to invite holders of Debentures to convert the then outstanding principal of the Debentures into Common Shares at $0.105 per share (the “Conversion Price”). In the event a holder does not elect to convert, the Conversion Price shall increase to $0.15. Subject to the foregoing, the principal of the Debentures may be converted at any time in whole or in part at the holder’s option into Common Shares at the Conversion Price in effect at such time. On the Maturity Date, the principal of the Debentures may be converted in whole or in part at the Company’s option into Common Shares at the Conversion Price in effect at such time.

BlueRush may pay eligible finders a cash fee equal to 7% of the gross proceeds of the Debentures and finders’ options entitling such eligible finder to purchase that number of Common Shares as is equal to 7% of the number of common shares issuable under the Debentures. Each finders’ option shall be exercisable for common shares of BlueRush at an exercise price of $0.105 per share for a period of 24 months from closing.

The proceeds of the financing will be primarily used to support research & development and sales & marketing while supporting the general working capital purposes of the business as it transitions to a full SaaS model.

All securities issued pursuant to the financing will be subject to a four-month hold period. The Company anticipates closing shortly, subject to the receipt of all necessary approvals.

About BlueRush Inc. and IndiVideo

BlueRush Inc. 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

For further information please contact:

Steve Taylor, CEO
Tel: 416-457-9391

Dave Badun, CFO
Tel: 416-624-8382 

Forward-Looking Statements

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, the closing of the financing and TSX Venture Exchange approval of the financing, 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: the Company receiving and accepting subscriptions for units and the TSX Venture Exchange approval of the financing. 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 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.