LevelJump Announces Private Placement Extension

About this update from Leveljump Healthcare Corp.

[{"type":"text","content":"LevelJump Announces Private Placement ExtensionToronto, Ontario--(Newsfile Corp. - May 12, 2023) - LevelJump Healthcare Corp. (TSXV: JUMP) (OTCQB: JMPHF) (FSE: 75J) (\"LevelJump\" or the \"Company\"), a Canadian leader in B2B telehealth solutions, announces that it has received an extension from the TSX Venture Exchange to its proposed non-brokered private placement originally announced on March 24, 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 June 10, 2023.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) 8% cumulative redeemable convertible Class A Series 1 preferred share (\"Preferred Share\"), at an issue price of $0.90 per Preferred Share. Each Preferred Share is non-voting, carries a cumulative annual dividend of 8% 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 $0.40 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 lon...

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