BlueRush Further Increases Maximum of Proposed Private Placement to $5 Million

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESTORONTO, Jan. 28, 2021 (GLOBE NEWSWIRE) — BlueRush Inc. (“BlueRush” or the “Company”) (TSX-V: BTV), an emerging personalized video Software as a Service (“SaaS”) company, is pleased to announce that due to high demand it is once again increasing the maximum raise of its previously announced proposed non-brokered private placement financing to a maximum of $5,000,000 of units (a “Unit” or “Units”) of the ‎Company (the “Offering”).Accordingly, BlueRush now proposes to raise gross proceeds pursuant to the Offering proceeds of a minimum of $2,000,000 and a maximum of $5,000,000 through the issuance of a minimum of 19,047,619 Units and a maximum of 47,619,047 Units at $0.105 per Unit. Each Unit shall consist of (i) one (1) common share of the ‎ ‎Company, and (ii) one (1) transferable common share purchase warrant. Each warrant shall ‎‎entitle the holder thereof to acquire one additional common share of the Company ‎at a price of $0.18 ‎per share ‎until the date that is thirty-six (36) months from the closing. The expiry of the warrants may be accelerated by the Company at any time ‎following the four (4) month ‎anniversary of the issuance of the warrant and ‎prior to the expiry date of the warrants if the volume weighted average price of the common shares of the Company on ‎the TSX Venture Exchange (the “Exchange”) is greater ‎than $0.22 for any twenty (20) ‎consecutive trading days, at which time the Company may, within ten (10) ‎‎business days, accelerate the expiry date of the warrants by issuing a press ‎release announcing the reduced ‎warrant term whereupon the warrants will ‎expire on the 20th calendar day after the date of such press ‎release‎.The net proceeds of the Offering will be used by the Company to continue to accelerate growth of its subscription revenue, R&D and for working capital.All securities issued pursuant to the Offering will be subject to a four-month hold period.‎ Closing of the transactions are subject to, amongst other things, prior approval of the Exchange.About BlueRushBlueRush 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. For more information visit www.bluerush.com.Forward-Looking StatementsCertain 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 closing of the Offering and the debt conversions, 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, including: receipt of subscription agreements and subscription proceeds; conditions for closing of the Offering being satisfied or waived; approval of the directors of the Company and approval of the Exchange. 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; general economic, market and ‎business conditions; and risks related to COVID-19 including ‎various recommendations, orders and measures of governmental ‎‎authorities ‎to try to limit the ‎pandemic, including travel restrictions, border closures, non-essential business ‎‎closures, ‎quarantines, ‎self-isolations, shelters-in-place and social distancing, disruptions to markets, economic ‎‎activity, ‎‎financing, supply chains and sales channels, and a deterioration of general economic conditions ‎‎including ‎a ‎possible national or global recession; 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 securities referred to in this news release have not been, nor will they be, registered under the ‎United States Securities Act of 1933, as amended, and may not be offered or sold within the United ‎States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable ‎exemption from the U.S. registration requirements. This news release does not constitute an offer ‎for sale of securities, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information ‎about the company and management, as well as financial statements.For further information please contact:‎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.‎