BlueRush Announces Share Consolidation

BlueRush Inc.
BlueRush Inc.

TORONTO, Dec. 09, 2022 (GLOBE NEWSWIRE) -- BlueRush Inc. ("BlueRush" or the "Company") (TSXV:BTV; OTCQB:BTVRF), a leading personalized video Software as a Service company, is pleased to announce that it has effected the previously announced consolidation (the “Consolidation”) of the Company’s common shares ‎‎(“Common Shares”) on the basis of one ‎‎(1) ‎post-‎Consolidation Common Share for five (5) pre-Consolidation Common ‎Shares on December 8, 2022 (the “Effective Date”). The Consolidation was approved at the special meeting of shareholders of the Company held on October 20, 2022 on the basis of one ‎‎(1) ‎post-‎Consolidation Common Share for up to five (5) pre-Consolidation Common ‎Shares and the board of directors of the Company subsequently resolved to complete the Consolidation on the basis of one ‎‎(1) ‎for five (5). The Company anticipates that the Common Shares will commence trading, effective market open on December 19, 2022, on the TSX Venture Exchange on a post-Consolidation basis. The Company’s name and trading symbol remain unchanged.

Immediately prior to the Consolidation there were 170,501,086 Common Shares issued and outstanding. Following the Consolidation, the Company has approximately 34,110,217 Common Shares issued and outstanding. No fractional Common Shares will be issued upon the Consolidation. Where the Consolidation results in a fractional Common Share, any resulting fractional Common Share that is less than one-half of a Common Share will be cancelled and each resulting fractional Common Share that is at least one-half of a Common Share will be changed to one whole post-Consolidation Common Share.

The new CUSIP number for the post-Consolidation Common Shares is 9629N200 and ISIN is CA09629N2005. A letter of transmittal describing the process by which shareholders may obtain new share certificates or Direct Registration System (DRS) advices representing their post-Consolidation Common Shares will be mailed shortly to registered shareholders. Shareholders who hold their Common Shares through a broker or other intermediary and do not have Common Shares registered in their name will not be required to complete a letter of transmittal. The letter of transmittal will be filed under the Company’s profile on SEDAR at www.sedar.com. Registered shareholders are advised not to mail in the certificate(s) representing their Common Shares until they receive a letter of transmittal.

About BlueRush

BlueRush develops and markets IndiVideo™, 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.

Forward-Looking Statements

Certain statements contained in this press release may 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: statements regarding the Consolidation and the timeline for trading of the Company’s post-Consolidation Common Shares; 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. 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; the general impact of COVID-19 pandemic, 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.

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.

For further information:

Steve Taylor, CEO
Tel: 416-457-9391
steve.taylor@bluerush.com