BLUERUSH Media Group Corp. (TSX-V: BTV) has appointed Steve Taylor, a current director of the company, as its new Chief Executive Officer, John Eckert, co-founder of Round13 Capital, to its board of directors.
Larry Lubin will remain as President and a director. Jim Moriarty, a director since 2007, has resigned to make room for Eckert.
On October 20, 2107, BLUERUSH Media Group completed $1.3 million non-brokered private placement led by Round 13 Capital which invested $750,000. Steve Taylor invested $250,000.
photo credit: Round 13 Capital
News Release
BLUERUSH ANNOUNCES NEW CEO AND DIRECTOR
Toronto (Ontario), December 13, 2017 – BLUERUSH Media Group Corp. (the “Company”) (TSXV: 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 Round13 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 steve.taylor@bluerush.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 INDIVIDEOTM, 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”.
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.
CONTACT INFORMATION BLUERUSH Media Group Corp. Steve Taylor Chief Executive Officer (416) 203-0618 ext.264 steve.taylor@bluerush.com
BLUERUSH Media Group Corp. Larry Lubin President (416) 203-0618 ext.225 larry@bluerush.ca www.bluerush.com