Nova Leap Announces Release of Financial Results for the Period Nov 16, 2015 to Dec 31, 2016
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DARTMOUTH, NOVA SCOTIA—March 9, 2017 – Nova Leap Health Corp. (Nova Leap) (TSX VENTURE:NLH), a company focused on the home care industry is pleased to announce the release of financial results for the the period from the date of incorporation, November 16, 2015, to December 31, 2016 with revenue of $39,991 and net loss of $489,519 for the period (All amounts are in U.S. dollars).
“I am pleased with the progress we have made since the date of incorporation to the end of 2016”, said Chris Dobbin, President & CEO of Nova Leap. We have achieved several key milestones in a relatively short period of time including the initial funding of Nova Leap, our IPO and the closing of our Qualifying Transaction (“QT”). I look forward to the coming year as we begin to move toward a growth oriented company.
This news release should be read in conjunction with the consolidated financial statements for the period from the date of incorporation, November 16, 2015, to December 31, 2016, notes to the financial statements, and management’s discussion and analysis for the the period from the date of incorporation, November 16, 2015, to December 31, 2016, which have been filed on SEDAR.
About Nova Leap
The Home Care Providers industry is becoming one of the fastest growing healthcare industries in Canada and the United States. Home care saves patients billions of dollars every year by treating them in their own homes instead of in hospitals. An aging population, the prevalence of chronic disease, growing physician acceptance of home care, medical advancements and a movement toward cost-efficient treatment options from public and private payers have all fostered industry growth. Nova Leap is focused on a highly fragmented market of small privately-held companies providing patients one on one care in their homes. Nova Leap’s post acquisition organic growth strategy is to increase annual revenue per location through a combination of increased employee investment, including training, focused sales and marketing efforts, billing rate increases, expansion of geographical coverage, and improved referral sources.
Certain statements contained in this press release may constitute “forward-looking information” as such term is defined in applicable Canadian securities legislation which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Nova Leap to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. When used in this Press Release, such statements use such words as “may”, “will”, “estimate(d)”, “expect”, “believe”, “plan”, “intend”, “should”, “anticipate” and other similar terminology. All statements other than statements of historical fact may be forward-looking information. Such statements reflect Nova Leap’s current views and intentions with respect to future events, and current information available to Nova Leap, and are subject to certain risks, uncertainties and assumptions. Material factors or assumptions were applied in providing forward-looking information, including our ability to increase sales. 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 credit, market (including equity, commodity, foreign exchange, and interest rate), liquidity, operational (including technology and infrastructure), reputational, insurance, strategic, regulatory, legal, environmental, capital adequacy, and other risks. Examples of such risk factors include the general business and economic conditions in the regions in which Nova Leap operates; the ability of Nova Leap to execute on key priorities, including the successful completion of acquisitions, business retention, and strategic plans and to attract, develop and retain key executives; difficulty integrating newly acquired businesses; the ability to implement business strategies and pursue business opportunities; low profit market segments; disruptions in or attacks (including cyber-attacks) on Nova Leap’s information technology, internet, network access or other voice or data communications systems or services; the evolution of various types of fraud or other criminal behavior to which Nova Leap is exposed; the failure of third parties to comply with their obligations to Nova Leap or its affiliates; the impact of new and changes to, or application of, current laws and regulations; dependence on few clients; a novel business model; dependence on key employees; granting of permits and licenses in a highly regulated business; the overall difficult litigation environment, including in the U.S.; increased competition; changes in foreign currency rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources to pursue operations; critical accounting estimates and changes to accounting standards, policies, and methods used by Nova Leap; and the occurrence of natural and unnatural catastrophic events and claims resulting from such events; as well as those risk factors discussed or referred to in Nova Leap’s Management’s Discussion and Analysis for the year ended December 31, 2016,, filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should any factor affect Nova Leap 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, Nova Leap 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 Nova Leap undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
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.
Nova Leap Health Corp.
Chris Dobbin, CPA, CA
President & CEO