betterU, a global education marketplace, has announced that it has entered into a binding letter of intent (“LOI”) with Treasure Union Limited ("TU"), a private company established and based in Hong Kong, China for an equity investment of $100 million financing (the “Investment”) at US$3.00 per common share (the “Share Price”) in the capital of the Corporation (the “Shares”). The Investment is scheduled to close on or before March 15th, 2018.
betterU aims to provide access to quality education from around the world to foster growth and opportunity to those who want to better their lives. The company plans to bridge the prevailing gap in the education and job industry and enhance the lives of its prospective learners by developing an integrated education-to-employment ecosystem. betterU’s offerings can be categorized into several broad functions: to complement school programs with flexible KG-12 programs preparing children for next stage of education, to provide access to global educational opportunities from leading educators, to foster an exceptional educational environment by providing befitting skills that lead to a better career, to bridge the gap between one’s existing education and prospective job requirement by training them and lastly, to connect the end user to various job opportunities.
TU is a private company incorporated and based in Hong Kong, China. It will be the managing partner for the $10 billion private investment fund (the “Fund”) used to support companies such as betterU. The Fund, which has yet to be set-up, will be established for launch in North America by January 2018. TU is managed by Kenny Ho, a Canadian citizen.
“betterU has an exciting story and significant growth opportunity ahead of them. With proper capitalization there is an opportunity for the company to become a global leader. We are looking forward to moving this agreement to closure and having a great 2018 together,” said Kenny Ho, CFO, Treasure Union Limited.
Upon completion and receipt of funds, betterU plans on expanding its core operations in both Canada and India along with increasing offices in North America, Europe, Asia Pacific and Australia / NZ. India will remain the Corporation’s primary focus for 2018 putting in place the infrastructure and teams to support significant growth within the country as well as preparation for global expansion. By early 2019, the Corporation further plans to grow its operations across many emerging markets leveraging its centralized core operations within Canada and India. “I am very proud of the efforts made by our global team over the years putting in place all the required partnerships, technology and opportunities that have created betterU’s education-to-employment ecosystem, supporting education for all. This investment will enable our company to advance our global efforts even further at a level that will have real positive global impact. It is a very exciting time to be part of betterU!” said Brad Loiselle, President / CEO of betterU.