BlueRush Announces Multi-Year IndiVideo US$1.17 Million Contract with Major U.S. Financial Services Company

TORONTO, Aug. 11, 2020 (GLOBE NEWSWIRE) -- BlueRush Inc. ("BlueRush" or the "Company") (TSX-V: BTV), an emerging personalized video Software as a Service ("SaaS") company, today announced that it has secured a three-year contract with a US-based multinational insurance provider, valued at approximately US$1,175,025.

"This is a significant win for BlueRush and IndiVideo, and a great way to start the 2021 fiscal year," said Steve Taylor, CEO of BlueRush. "We are committed to pursuing deals with higher recurring revenue, rather than service ?revenue, and the introduction of the self-serve capability to the IndiVideo platform ?continues to drive us towards subscription-based revenue."?

The contract includes a base annual subscription of US$250,000 and a consumption ?element based on the number of video views, with a minimum commitment from the ?customer on the video views. Recurring revenue, including the minimum subscription and ?consumption elements, is US$274,510 in year one, US$329,515 in year two and US$421,000 in year three. There is an additional annual services retainer of US$50,000 for advisory ?services BlueRush will provide to the customer.

Mr. Taylor continued, "We recently announced the release of our ?Self-Serve' capability?, and this customer's multi-year commitment to IndiVideo demonstrates the power of the self-serve functionality and solidifies our standing as a favoured solution for large and established brands to create secure and scalable personalized interactive video experiences."

About BlueRush

BlueRush develops and markets IndiVideotm, a disruptive, award-winning interactive personalized video platform that drives return on investment throughout the customer lifecycle, from increased conversions to more engaging statements and customer care. IndiVideo enables BlueRush clients to capture knowledge and data from their customers' video interaction, creating new and compelling data driven customer insights. For more information visit www.bluerush.com.

Forward-Looking Statements

Certain statements contained in this press release may constitute "forward-looking ?information" as ?????such term is ?defined in applicable Canadian securities legislation. The words ??"may", "would", "could", ??????"should", "potential", ??"will", "seek", "intend", "plan", "anticipate", ??"believe", "estimate", "expect" and ?????similar expressions as they relate ?to the Company, including the financial benefits to the Company of the new contract, are ?intended to identify forward-looking ????information. All ?statements other than statements of ??historical fact may be forward-looking ????information. Such ?statements reflect the Company's ?current views and ?intentions with respect to ????future events, and ?current information available to ?the Company, and are subject to ?certain risks, ????uncertainties and ?assumptions, including the contract remaining in force to its maturity. Material factors ?or assumptions were applied in providing forward-?????looking information. ?Many factors could ?cause the actual results, performance or achievements that ????may be ?expressed or ?implied by ?such forward-looking information to vary from those described herein ????should one or ?more ?of ?these risks or uncertainties materialize. These factors include, without limitation: ????changes in ?law; the ??ability to implement business strategies and pursue business opportunities; state ????of the ?capital ?markets; the ?availability of funds and resources to pursue operations; a novel business ?????model; ?dependence on key suppliers ?and local partners; competition; the outcome and cost of ?any ????litigation; ?general economic, market and ?business conditions; and risks related to COVID-19 ?including ????various ?recommendations, orders and measures of governmental ??authorities ?to try to ?limit the ????pandemic, ?including travel restrictions, border closures, non-essential business ???closures, ?quarantines, ????self-?isolations, shelters-in-place and social distancing, disruptions to ?markets, economic ??activity, ?????financing, ?supply chains and sales channels, and a deterioration of ?general economic conditions ?????including ?a ??possible national or global recession; as well as those ?risk factors discussed or ?referred to in ????disclosure ?documents filed by the Company with the ?securities regulatory authorities in certain ?????provinces of ?Canada and available at ?www.sedar.com. Should any factor affect the Company in an ????unexpected ??manner, or should ?assumptions underlying the forward-looking information prove ????incorrect, the ?actual results or ??events may differ materially from the results or events predicted. Any ????such forward-?looking ?information is ?expressly qualified in its entirety by this cautionary statement. ????Moreover, the ??Company does not assume ?responsibility for the accuracy or completeness of such ????forward-?looking ?information. The forward-looking ?information included in this press release is made ????as ?of the date of ?this press release and the Company ?undertakes no obligation to publicly update ?or ????revise any forward-?looking information, other than as required by ?applicable law.?

For further information please contact:?

Steve Taylor, CEO
Tel: 416-457-9391?
[email protected]

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.?