Round 13 Capital Founders Fund, L.P. Files Early Warning Report in Respect of Securities of BlueRush Inc.

TORONTO, Feb. 03, 2021 (GLOBE NEWSWIRE) -- Round 13 Capital Founders Fund, L.P. ("Round 13") announces it has filed an early warning report (the "Report") in respect of its security holdings in BlueRush Inc. (the "Issuer").

On January 29, 2021, Round 13 was issued incentive warrants of the Issuer ?exercisable for 3,571,428 common shares of the Issuer at $0.18 per share for thirty-six ??(36) months, subject to acceleration, as an incentive to convert outstanding convertible ?debentures of the Corporation held by Round 13.?

Pursuant to Round 13's most recently filed early warning report, it owned or ?controlled, directly or indirectly, 14,102,563 common shares of the Issuer and warrants ?exercisable for up to 14,102,563 common shares of the Issuer, representing 24.7% of ?all of the issued and outstanding common shares of the Issuer on a non-diluted basis ?and representing 39.7% of all of the issued and outstanding common shares of the ? Issuer on a partially diluted basis.?

Immediately before the acquisition of the above noted incentive warrants, the Round 13 owned or controlled, ?directly or indirectly, 28,205,126 common shares of the Issuer and convertible ?debentures convertible for up to 21,309,523 common shares of the Issuer, representing ??36.0% of all of the issued and outstanding common shares of the Issuer on a non-?diluted basis and representing 49.7% of all of the issued and outstanding common shares of ?the Issuer on a partially diluted basis.?

Immediately after the acquisition of the above noted incentive warrants, the Round 13 owned or controlled, ?directly or indirectly, 49,514,649 common shares of the Issuer and warrants exercisable ?for up to 3,571,428 common shares of the Issuer, representing 32.7% of all of the ?issued and outstanding common shares of the Issuer on a non-diluted basis and ?representing 34.2% of all of the issued and outstanding common shares of the Issuer on ?a partially diluted basis.?

The securities of the Issuer held by Round 13 are owned for investment purposes. Round 13 may increase or reduce its investment in the Issuer according to market conditions or other relevant factors.

For further details relating to the acquisition, please see the Report, which was filed in accordance with applicable securities laws, a copy of which is available under the Issuer's profile on the SEDAR website at www.sedar.com, or may be obtained from Round 13 by contacting (416) 315-4448.