BetterU Education Corp. (TSXV:BTRU) announced a private placement of convertible note for gross proceeds of CAD 2,500,000 on October 15, 2018. The note carries a coupon of 15% per annum and would mature in 12 months from the date of issuance. The transaction will include participation from AIP Asset Management Inc. The convertible notes may be convertible into units, in whole, or in part, at the market price as at the close of trading on October 5, 2018. Each unit will consist of one common share and one full warrant. Each warrant can be exercised at market price as at the close of trading on October 5, 2018 within 24 months from the date of conversion. The transaction is subject to approvals of board of directors and TSXV approvals. The note will issue at par value. All fees will be withheld from the first tranche of funds issued, with no additional fees to be applied to the remaining CAD 1,500,000.