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Leveljump Healthcare Corp. Announces $3.2 Million Term Loan Commitment from TD Canada Trust
Toronto, Ontario--(Newsfile Corp. - November 25, 2021) - Leveljump Healthcare Corp. (TSXV: JUM...
About this update from Leveljump Healthcare Corp.
[{"type":"text","content":"Leveljump Healthcare Corp. Announces $3.2 Million Term Loan Commitment from TD Canada TrustToronto, Ontario--(Newsfile Corp. - November 25, 2021) - Leveljump Healthcare Corp. (TSXV: JUMP) (OTCQB: JMPHF) (FSE: 75J) (\"Leveljump\" or the \"Company\"), a Canadian leader in B2B telehealth solutions, is pleased to announce that it has secured a term loan commitment from TD Canada Trust for $3.2 million for the purpose of closing the Company's previously announced acquisition of three Ontario Diagnostic Imaging Clinics (Press release September 28, 2021).Combined with the Company's cash on hand, the term loan will allow the Company to close the Ontario Diagnostic Imaging Clinics acquisition.The loan facility will be a $3.2 million term loan, amortized over 10 years and the expected interest rate is to be less than 4%. The loan calls for monthly payments of principal and interest and an annual payment of 25% of excess EBITDA towards principal. Additionally, TD Canada Trust is supplying the company with a $150,000 operating line of credit at Prime +1.5%.\"We are very excited to have TD Canada Trust act as our partner in this acquisition and we look forward to being able to present them with our additional acquisitions in the near future with a goal to expanding our relationship and building JUMP,\" said Mitchell Geisler, Chief Executive Officer of the Company.Closing of the loan is subject to a number of diligence items and covenants as requested by the bank and the Company believes these will all be met prior to closing the acquisition.About Leveljump HealthcareLeveljump Healthcare Corp., (TSXV: JUMP) (OTCQB: JMPHF) (FSE: 75J) is a healthcare company with a focus on profitable telehealth solutions as well as primary care services in radiology. The Company's subsidiary, CTS, provides off-site radiology readings for hospital emergency rooms and is a leader in the teleradiology space in Ontario. As part of our growth strategy, we are acquiring healthcare companies that have strong revenue and cash flow, with room for organic growth. ON BEHALF OF THE BOARD OF DIRECTORS OFLEVELJUMP HEALTHCARE CORP.Mitchell Geisler, Chief Executive [email protected](833) 840-2020CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATIONThis news release contains \"forward-looking information\" within the meaning of applicable securities laws...