LevelJump Healthcare Corp. Announces Extension of Non-Brokered Private Placement

Rhea-AI Summary

LevelJump Healthcare Corp. announces an extension for its proposed non-brokered private placement, offering up to 5,000,000 units at $1.00 per unit for gross proceeds of up to $5,000,000. The company has sold 1,955,000 units and 2,094,000 Class A-1 Preferred shares to date. The Preferred shares are capped at a maximum of 10,000,000 shares that can be issued. Each Unit will consist of one common share and one 12% cumulative redeemable convertible Class A Series 1 preferred share. The Company is also offering a finders fee of 7%. The Offering is conditional upon receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange.

Toronto, Ontario--(Newsfile Corp. - January 17, 2024) - LevelJump Healthcare Corp. (TSXV: JUMP) (OTC Pink: JMPHF) (FSE: 75J) ("LevelJump" or the "Company"), a Canadian leader in B2B telehealth solutions, announces that it has applied for an extension from the TSX Venture Exchange to its proposed non-brokered private placement originally announced on November 28, 2023 of up to 5,000,000 units at $1.00 per unit (a "Unit") for gross proceeds of up to $5,000,000 (the "Offering") pursuant to certain exemptions from the prospectus requirements of applicable securities laws of the provinces of Canada. The extended final date for acceptance of the Offering is February 16, 2024.

To date the Company has sold 1,955,000 of the Units and 2,094,000 of the Class A-1 Preferred shares in total. The Preferred shares are capped at a maximum of 10,000,000 shares that can be issued.

Each Unit will consist of: (i) one (1) common share of LevelJump ("Common Share"), at an issue price of $0.10 per Common Share; and (ii) one (1) 12% cumulative redeemable convertible Class A Series 1 preferred share ("Preferred Share"), at an issue price of $0.90 per Preferred Share. The Company is also offering a finders fee of 7%.

Each Preferred Share is non-voting, carries a cumulative annual dividend of 12% payable quarterly, along with a top up dividend of 25% of LevelJump's EBITDA above $2,000,000 per year, divided by the then outstanding preferred shares, are redeemable on the fifth anniversary (the "Redemption Date") after issuance at a price of $1.00 per Preferred Share together with all accrued and unpaid dividends, or at a price of $1.10 per Preferred Share if redeemed any time prior to the Redemption Date and are convertible into common shares of the Company at a price of $0.20 per Common Share. Subject to applicable law and to certain exceptions, LevelJump may, at any time prior to the Redemption Date, purchase for cancellation all or any number of the Preferred Shares outstanding from time to time at any price in the open market if they are listed or posted for trading on a stock exchange or by tender available to all of holders of Preferred Shares or by private agreement or otherwise.

The Offering is only open to residents of Canada who are "accredited investors" or who are a "family member, close personal friend or business associate" as defined under applicable securities legislation. It is the intention that the principal subscribers will include strategic investors made up of private investment funds and high net worth investors in support of the long-term vision of the Company. The net proceeds from the financing will be used towards acquisitions and for general working capital purposes.

The Offering is conditional upon receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange. The securities to be issued under the Offering will have a hold period of four months and one day from the closing date of the Offering in accordance with applicable securities laws.

About LevelJump Healthcare
LevelJump Healthcare Corp., (TSXV: JUMP) provides telehealth solutions to client hospitals and imaging centers through its Teleradiology division, as well as in person radiology services through its IHF's (Independent Healthcare Facilities). JUMP focuses primarily on critical care for urgent and emergency patients, establishing integral relationships in the communities we serve.

ON BEHALF OF THE BOARD OF DIRECTORS OF
LEVELJUMP HEALTHCARE CORP.

Mitchell Geisler
Chief Executive Officer

Caitlin-Robyn Densmore
Investor Relations Manager
Caitlin.Densmore@leveljumphealthcare.com
(437) 214-1568

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company's business plans and the outlook of the Company's industry. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, Canadian Teleradiology Services, Inc., their securities, or their respective financial or operating results (as applicable).

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/194610

FAQ

What is LevelJump Healthcare Corp. offering in its proposed non-brokered private placement?

LevelJump Healthcare Corp. is offering up to 5,000,000 units at $1.00 per unit for gross proceeds of up to $5,000,000 in its proposed non-brokered private placement.

How many units and Class A-1 Preferred shares has LevelJump Healthcare Corp. sold to date?

LevelJump Healthcare Corp. has sold 1,955,000 units and 2,094,000 Class A-1 Preferred shares to date.

What is included in each Unit of LevelJump Healthcare Corp.'s proposed private placement?

Each Unit will consist of one common share and one 12% cumulative redeemable convertible Class A Series 1 preferred share.

What is the finders fee offered by LevelJump Healthcare Corp. in its private placement?

The Company is offering a finders fee of 7% in its private placement.

What is the condition for LevelJump Healthcare Corp.'s proposed private placement?

The Offering is conditional upon receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange.