01:24:42 EDT Wed 08 May 2024
Enter Symbol
or Name
USA
CA



Leveljump Healthcare Corp
Symbol JUMP
Shares Issued 96,424,729
Close 2023-11-28 C$ 0.08
Market Cap C$ 7,713,978
Recent Sedar Documents

Leveljump to issue preferred share units with offering

2023-11-28 16:50 ET - News Release

Mr. Mitchell Geisler reports

LEVELJUMP HEALTHCARE CORP. ANNOUNCES NEW PREFERRED SHARE OFFERING

Leveljump Healthcare Corp. has applied to the TSX Venture Exchange to update its preferred share unit offering. The company has applied for the updated offering so that it may issue preferred share units as part of the consideration payable for the completed Alberta acquisitions, as well as working capital.

Subject to exchange approval, the company plans to sell up to five million units at $1 per unit, which consists of: (i) one common share of Leveljump at an issue price of 10 cents per common share; and (ii) one 12 per cent cumulative redeemable convertible Class A Series 1 preferred share at an issue price of 90 cents per preferred share.

Each preferred share is non-voting and carries a cumulative annual dividend of 12 per cent payable quarterly, along with a top-up dividend of 25 per cent of the portion of Leveljump's EBITDA (earnings before interest, taxes, depreciation and amortization) that is above $2-million per year, divided by the then outstanding preferred shares. The preferred shares are redeemable on the fifth anniversary after issuance at a price of $1 per preferred share (or at a price of $1.10 per preferred share if redeemed any time prior to the redemption date) together with all accrued and unpaid dividends. The preferred shares are also convertible, prior to being redeemed or called, into common shares of the company at a price of 20 cents 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, by tender available to all of holders of preferred shares, by private agreement, or otherwise.

To date, the company has sold 2,094,000 units in prior offerings. The balance of the offering will be sold primarily to accredited investors pursuant to exemptions under applicable securities laws.

About Leveljump Healthcare Corp.

Leveljump (TSX Venture Exchange: JUMP) provides telehealth solutions to client hospitals and imaging centres through its teleradiology division, as well as in-person radiology services through its IHF (independent health care facilities). Leveljump focuses primarily on critical care for urgent and emergency patients, establishing integral relationships in the communities it serves.

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