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Bluedrop Announces Extension to Maturity Dates of Indebtedness

December 30, 2019 GMT

ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--Dec 30, 2019--

Bluedrop Performance Learning Inc. (TSX-V: BPLI) (“Bluedrop” or the “Company”) announced today that the Company has agreed to amend the terms of two promissory notes issued to the Company by Name 3 Capital Inc. (“Name 3”) in the aggregate amount of $169,816, to extend the maturity dates of the notes from December 31, 2019 to December 31, 2021. The indebtedness is in relation to the purchase of common shares of Bluedrop by Name 3, a company controlled by Derrick Rowe, Executive Chairman and a Director of the Company. All other terms of the promissory notes remain unchanged and as disclosed in the management information circular of the Company filed on SEDAR on March 4, 2019.

About Bluedrop

Bluedrop Performance Learning Inc. (TSX-V: BPLI) is an innovator in both the development of workplace e-learning and simulation as well as the way large organizations deliver, track and manage training. Our two divisions serve the world’s leading aerospace and defence organizations as well as broad cross sections of organizations focused on managing system wide health and safety and developing the skills of external workforces. Bluedrop is creating the workforce of the future by improving the effectiveness, speed and cost of training delivery and management. For more information, visit www.bluedrop.com. You can follow us on Twitter: @Bluedrop_BPL.

This news release may contain “forward-looking information” as defined in applicable Canadian securities legislation. All statements, other than statements of historical fact included in this release, including, without limitation, statements regarding the impact of the operational restructuring and future plans and objectives of Bluedrop, constitute forward-looking information that involve various risks and uncertainties. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the operational efficiencies associated with the integration of technological and financial systems and general economic and market conditions. There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking information.

Important factors that could cause actual results to differ materially from Bluedrop’s expectations include general global economic conditions. For additional information with respect to risk factors applicable to Bluedrop, reference should be made to Bluedrop’s continuous disclosure materials filed from time to time with securities regulators, including, but not limited to, Bluedrop’s Annual Information Form and Management’s Discussion and Analysis of Results of Operations and Financial Condition for the year ended September 30, 2018. The forward-looking information contained in this release is made as of the date of this release and Bluedrop does not undertake to update publicly or revise the forward-looking information contained in this release, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

Neither the 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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191230005283/en/

CONTACT: Bernie Beckett

Treasurer and Corporate Secretary

Bluedrop Performance Learning Inc.

berniebeckett@bluedrop.com

Phone: 709-739-4938

KEYWORD: NORTH AMERICA CANADA

INDUSTRY KEYWORD: EDUCATION SOFTWARE TECHNOLOGY TRAINING

SOURCE: Bluedrop Performance Learning Inc.

Copyright Business Wire 2019.

PUB: 12/30/2019 05:15 PM/DISC: 12/30/2019 05:15 PM

http://www.businesswire.com/news/home/20191230005283/en