LevelJump Healthcare Corp. Closes Financing for $825,000

Rhea-AI Summary

LevelJump Healthcare Corp. has completed a non-brokered private placement financing, raising $825,000. The funds will be used for completing the Alberta acquisition and working capital. The company has paid a finder's fee of $45,500 to certain finders. All securities issued will be subject to resale restrictions for four months and one day.

Toronto, Ontario--(Newsfile Corp. - October 2, 2023) - LevelJump Healthcare Corp. (TSXV: JUMP) (OTCQB: JMPHF) (FSE: 75J) ("LevelJump" or the "Company"), a Canadian leader in B2B telehealth solutions, is very pleased to announce that, further to its news release of September 14, 2023, it has now completed and closed a non-brokered private placement financing.

In connection with the private placement, the Company has issued a total of 825,000 preferred share units for aggregate gross proceeds of $825,000 at a price of $1.00 per unit (a "Unit").

Each unit consists of (i) one Common Share at an issue price of $0.10 and (ii) one Class A Series 1 Convertible Preferred Share at an issue price of $0.90 and at a conversion price of $0.20 per Common Share. Each Preferred Share is non-voting, redeemable and carries a cumulative annual dividend of 12% paid quarterly, along with an annual top-up dividend representing 25% of the portion of LevelJump's EBITDA that is above $2.0 million, on a pro-rata basis.

Proceeds from the non-brokered private placement are intended to be used for completing the Alberta acquisition and working capital. The Company has paid a finder's fee of $45,500 to certain finders in conjunction with this placement. All securities issued pursuant to this financing will be subject to resale restrictions for a period of four months and one day from closing under applicable securities legislation.

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/182671