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LevelJump Healthcare Corp. Announces Extension of Non-Brokered Private Placement
Toronto, Ontario--(Newsfile Corp. - January 17, 2024) - LevelJump Healthcare Corp. (TSXV: JUMP) (...
About this update from Leveljump Healthcare Corp.
[{"type":"text","content":"LevelJump Healthcare Corp. Announces Extension of Non-Brokered Private PlacementToronto, Ontario--(Newsfile Corp. - January 17, 2024) - LevelJump Healthcare Corp. (TSXV: JUMP) (OTC Pink: JMPHF) (FSE: 75J) (\"LevelJump\" or the \"Company\"), a Canadian leader in B2B telehealth solutions, announces that it has applied for an extension from the TSX Venture Exchange to its proposed non-brokered private placement originally announced on November 28, 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 February 16, 2024.To date the Company has sold 1,955,000 of the Units and 2,094,000 of the Class A-1 Preferred shares in total. The Preferred shares are capped at a maximum of 10,000,000 shares that can be issued.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) 12% cumulative redeemable convertible Class A Series 1 preferred share (\"Preferred Share\"), at an issue price of $0.90 per Preferred Share. The Company is also offering a finders fee of 7%.Each Preferred Share is non-voting, carries a cumulative annual dividend of 12% 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 $0.20 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\" o...