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Definitive Agreement Signed to Complete US$100M Equity Investment in betterU
Message: BetterU Education Corporation and the Telecom Sector Skill Council of India Have Partnered for the Skilling of Millions of People Across India’s
OTTAWA, Sept. 13, 2017 -- betterU Education Corp. (TSX VENTURE:BTRU) (FRANKFURT:5OGA) (the “Corporation” or “betterU”), is pleased to announce that after ten months of discussions it has executed on a Memorandum of Understanding (MoU) with the Telecom Sector Skill Council (TSSC) to jointly support both organizations' efforts towards the skilling of millions of professionals across India’s Telecom sector.Bradley Loiselle, President and CEO betterU (left) and Lt. Gen SP Kochhar (Retd) (right)
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/ee440fe4-4962-43b2-ae54-c0b695bd7a87
In Nov 2016, betterU held its first ‘Skills Leadership Summit’ in Delhi that included many industry, academia and government leaders. A passionate panelist, the CEO of TSSC, Lt. Gen SP Kochhar (Retd) was outspoken about the importance of skills development and the required collaboration of Industry and educators. Over the following year, betterU continued to grow its relationship with TSSC and many other Sector Skill Councils. The company began its efforts this year towards the development of an individualized skill-based program that would provide sector skill councils such as TSSC with the ability to support mass training across the many skilling needs of the country.
betterU and TSSC will advance their combined efforts to support multiple skilling initiatives including the:
- development of TSSC / betterU country wide learning centers;
- development and acquisition of localized Hindi / English educational programs;
- development of rural area mobility learning, and
- further advancement of a customized skilling platform providing access to a breadth and depth of international education.
Supported by TSSC, betterU will map the industry’s national occupational standards, occupational roles and national job requirements into the skilling platform interlinking corporate requirements with international educators, assessments, learning modules and global employment outcomes. As part of betterU’s commitment, they will assign dedicated resources to operate within the TSSC offices ensuring such programs are advancing. “We are excited to have partnered with betterU in our efforts to skill upwards of 8.78 million people to meet the growing needs of the telecom sector by 2022. betterU’s vision is very much aligned with our own and to bring together a collaborative effort from global educators is something we see as a great benefit for India,” said Lt. Gen SP Kochhar (Retd), Chief Executive Officer Telecom Sector Skill Council.
The TSSC / betterU partnership will tap into thousands of skill development courses already available on betterU’s global education marketplace and when combined with TSSC’s government, industry and academia relationships will provide the ultimate benefit to the country. betterU’s model is unique in that it integrates top quality educators from around the world along with their educational programs, assessments and employment opportunities into one collaborative ‘education-to-employment’ ecosystem. Combined with TSSC’s already developed technology, assessments and employment partnerships makes this relationship even stronger. “The collective collaboration of educators and employers is something we both believe is key to the mass educating of the country. We are very excited to be working with one of India’s leading flagship sector leaders,” said Bradley Loiselle, President and CEO betterU.
About Telecom Sector Skill Council (TSSC)
Telecom Sector Skill Council (TSSC) is a Not for Profit PPP between NSDC & Telecom Industry. TSSC is committed to develop world class skilled manpower for the Telecom Industry – Nationally & Internationally.
- Mandated to skill up 5 million people by 2022.
- Skill and certify 45 Lacs personnel in 150 trades, train 24,000 trainers, accredit 500 training organizations and to cover the whole country progressively over a period of 10 years.
- Develop necessary framework for standards, curriculum & quality assurance at all levels in vocational/technical programs to meet the need of the Industry.
- Participate in regional & International vocational telecom sector development initiatives.
betterU, a global education marketplace, 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 four broad functions: to compliment school programs with flexible KG-12 programs preparing children for next stage of education, 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements and information, which may involve risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors that might cause a difference include, but are not limited to, competitive developments, risks associated with betterU’s growth, the state of the financial markets, regulatory risks and other factors. There can be no assurance or guarantees that any statements of forward-looking information contained in this release will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral statements containing forward-looking information are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Unless otherwise required by applicable securities laws, betterU disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise. Readers should not place undue reliance on any statements of forward-looking information that speak only as of the date of this release. Further information on betterU’s public filings, including their most recent audited consolidated financial statements, are available at www.sedar.com.
For further information, please visit http://www.betteru.ca/investor-overview/.
The photo is also available via AP PhotoExpress.
Gurinder Sandhu, Investor Relations
1-613-695-4100 Ext. 233
Email: [email protected]
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