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HALIFAX, Nova Scotia, December 31, 2019 (GLOBE NEWSWIRE) – NO SL LEAP HEALTH CORP (TSXV: NLH), TSX Venture 50 ™ company in 2019 focused on the care home industry closed health of the first tranche of its private brokerage, previously announced on 5 December 2019 and 20 December, 2019 (the “Offer”), by issuing unsecured convertible debentures (“Debentures”) for $ gross proceeds. 2,338,000.
The Debentures will grow five (5) years after the date of issue (the “Maturity Date”) and accrue interest at 8.0% per annum, payable half-yearly. At the choice of the holders, the Debentures can be converted into ordinary shares of Nova Leap at any time and from time to time, to the Maturity Date, at a CAD $ 0.52 conversion price per common share (the “Conversion Price”). At any time after the date of one year after the date of issue of the debentures, the Company may announce the imposition of the principal of Credits outstanding at the Conversion Price on at least 30 days' notice if the daily weighted amount is the average trading price of the shares. common more than CAD $ 0.78 for any 20 consecutive trading days.
Some of the Company settled a total of $ 1,333,000 debentures. The Company's relevant change report regarding the participation of the Tenderers will not be filed at least 21 days prior to the close of Tender because their participation was not known at that time. The Company paid a cash commission of $ 20,220 which was equivalent to 6.0% of the gross receipts of the first tranche of the Offer which was drawn up through certain brokers. The Debentures and any common shares issued under them are subject to a period of statutory possession lasting four months and one day after the date of issue of debentures.
The Company expects to complete the second and final tranche of the Motion on or before 20 January 2019. The proceeds from The Offering will be used to secure domiciliary care services businesses and for working capital purposes and general corporate objectives. .
The securities being offered under the United States Securities Act 1933, as amended, were not registered and may not be offered or sold in the United States or to, or accounts of or benefit of United States persons absent registration or exemption applicable from the United States. registration requirements. This press release shall not contain an offer to seek or seek an offer of purchase or any sale of the securities in any State where such offer, seizure or sale would be unlawful.
About Nova Leap
Nova Leap is a home healthcare services company operating in one of the fastest growing industries in the United States and Canada. The Company plays a vital role within the continuum of care with a single and family focus, particularly those with dementia care. Nova Leap won the # 10 Classification in the TSX Venture 50 ™ in 2019 in the Clean Technology & Life Sciences sector. The Company has a geographical diversification with operations in 5 different US states: Vermont, New Hampshire, Massachusetts, Rhode Island and Oklahoma as well as Nova Scotia, Canada.
ADDITIONAL INFORMATION: t
Some statements in this press statement may have emerging statements, such as statements concerning the completion of the second tranche of the Notice and the use of The Offering proceeds. This information is based on current expectations which are subject to significant risks and uncertainties that are difficult to predict. The actual results could be materially different from the results suggested in any forward-looking statements. Risks that may result in the results of the forward-looking statements in this release include regulatory changes affecting the home care industry, unexpected increases in operating costs and competition from suppliers. other service. All forward-looking statements, including any future financial outlook or financial information contained in this press release, are from the date of this release and are included to provide information on the management's current expectations and plans. related to the future. The Company accepts no obligation to update the forward-looking statements, or to update the reasons why actual results may be up to date with those indicated in the forward-looking statements unless and until required by the Company's securities laws. . Additional information identifying risks and uncertainties is contained in the Company's filing with Canadian securities regulators, available at www.sedar.com.
TSX Venture Exchange and its Regulatory Service Provider (as defined in the Exchange Venture Exchange policies) do not accept responsibility for the adequacy or accuracy of this release.
For further information: Christopher Dobbin, CPA, CA, Director, President and CEO Nova Leap Health Corp., T: 902 401 9480 F: 902 482 5177
(t) Nova Leap Health Corp. (t) private home care (t) mergers and acquisitions (t) growth (t) TSXV