Round 13 Capital, through Round 13 Capital Founders Fund, L.P., has completed an investment of $750,000 in Bluerush Media Group Corp. (TSX-V: BTV), a Toronto base digital marketing company.
Round 13 Capital subscribed 11,538,461 units at a price of $0.05 per unit and 2,564,102 units at a price of $0.065 per unit for aggregate purchase price of approximately $750,000.
Each unit consists of one Bluerush Media common share and one share purchase warrant. 11,538,461 of the warrants are exercisable at a price of $0.05 into one share, and 2,564,102 of the warrants are exercisable at a price of $0.0675, in each case until October 19, 2019.
Round 13 Capital acquired the units as part of the previously announced private placement by Bluerush Media. Bluerush Media raised gross proceeds of $1,300,000 through the issuance of 19,999,992 units at $0.05 per unit and 4,444,441 units at a price of $0.0675 per unit. Steve Taylor, a newly appointed director, subscribed for $250,000.
Upon completion of the private placement, Round 13 directly owns and controls 14,102,563 shares, representing approximately 24.73% of the issued and outstanding shares, or approximately 39.65% of the issued and outstanding shares on a partially diluted basis.
Round 13 Capital has the right to nominate one member of the board of directors of Bluerush Media for as long as Round 13 owns or control at least 3.33% of the issued and outstanding common shares.
Bluerush Media Group Corp. 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.
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