Nova Leap Closes Second Tranche of Private Placement
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
HALIFAX, October 16, 2017– NOVA LEAP HEALTH CORP. (TSXV: NLH) (“Nova Leap” or the “Company”), a company focused on the home health care industry, closed the second and final tranche of its previously announced private placement for proceeds of CAD$210,000 through the issuance of 1,050,000 units at a price of CAD$0.20 per unit. Together, with the first tranche, total proceeds were CAD$990,000, part of which were used to fund the Armistead Senior Care asset acquisition on October 6, 2017, with the remainder to be used for working capital.
Each unit is comprised of one common share of the Company and a one-half common share purchase warrant. Two half-warrants entitle the holder to acquire one common share of the Company for CAD$0.35 for a period of 24 months from the closing date of this private placement. The common shares and warrants are subject to a 4 month hold period.
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.
FORWARD LOOKING INFORMATION:
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company’s filings with the Canadian securities regulators, which filings are available at www.sedar.com.
For further information:
Christopher Dobbin, CPA, CA, Director, President and CEO Nova Leap Health Corp., T: 902 401 9480 F: 902 482 5177 email@example.com
John Boidman, Vice President Renmark Financial Communications Inc. T: 416 644-2020 or 514 939-3989 firstname.lastname@example.org
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