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

Bluedrop Performance Learning Inc. (TSX-V:BPL) ("Bluedrop" or the "Company") is pleased to announce that the TSX Venture Exchange ("TSXV") has accepted the Company's notice of intention to make a normal course issuer bid ("NCIB").

Under the terms of the NCIB, Bluedrop may acquire up to an aggregate of 5,052,889 common shares. In the opinion of the board of directors of Bluedrop, its common shares have been trading at prices that do not reflect the underlying value of the Company including its growth opportunities. Accordingly, Bluedrop believes that purchasing and returning its common shares to treasury at present pricing represents an opportunity to enhance value for its ongoing shareholders

As of March 24, 2017, the Company had 101,057,776 common shares outstanding, of which 22,047,241 common shares represent the public float of Bluedrop. Under TSXV policies, Bluedrop is entitled to purchase up to 2% of the total issued and outstanding common shares in any 30 day period up to the maximum of 5,052,889 common shares over the 12 month period that the NCIB is in place.

The purchases will commence on March 31, 2017 and will end on March 30, 2018, or on such earlier date as Bluedrop may complete its purchases pursuant to the notice of intention to make an NCIB filed with the TSXV. The actual number of common shares which will be purchased and the timing of any such purchases will be determined by the Company. The initial tranche of share purchases under the NCIB shall not exceed either (a) one million common shares; or (b) the aggregate amount of $150,000. All common shares purchased by the Company will be on the open market through the facilities of TSXV by Haywood Securities Inc. ("Haywood") acting on behalf of Bluedrop in accordance with the policies of the TSXV and will be surrendered by the Company to its transfer agent for cancellation. The prices that Bluedrop will pay for any of the common shares purchased will be the market price of the shares at the time of acquisition.

The Company also announces that it has entered into an automatic share purchase plan with Haywood in order to facilitate repurchases of its common shares under the NCIB. Under Bluedrop's automatic share purchase plan (the "Plan"), Haywood may repurchase common shares under the NCIB at times when Bluedrop would ordinarily not be permitted to, due to self-imposed blackout periods.

Purchases under the Plan will be made by Haywood based upon the parameters prescribed by the TSXV, applicable Canadian securities laws and the terms of the parties' written agreement. The Plan has been reviewed by the TSXV and will be in effect for the term of the NCIB.

About Bluedrop

Bluedrop Performance Learning Inc. (TSX-V: BPL) 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 costs of training delivery and management. For more information, visit www.bluedrop.com.

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 Management’s Discussion and Analysis of Results of Operations and Financial Condition For the Year Ended September 30, 2016. 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.

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