LEVELJUMP HEALTHCARE CORP. NEW FINANCING AND DEBT CONVERSION

About this update from Leveljump Healthcare Corp.

[{"type":"text","content":"\n \n \n \n LEVELJUMP HEALTHCARE CORP. NEW FINANCING AND DEBT CONVERSION\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Feb. 28, 2023\n \n \n /CNW/ - 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 is undertaking a new preferred offering to investors and has entered into an agreement with its executive officers to purchase shares of the Company.\n \n \n \n \n \n \n \n \n \n The Company plans to sell a total of 5,000,000 of units at\n \n $1\n \n per unit which consist of (i) one (1) common share of LevelJump (\"Common Share\"), at an issue price of\n \n $0.10\n \n per Common Share; and (ii) one (1) 8% cumulative redeemable convertible Class A Series 1 preferred share (\"Preferred Share\"), at an issue price of\n \n $0.90\n \n per Preferred Share.\n \n \n Each Preferred Share is non-voting, carries a cumulative annual dividend of 8% payable quarterly, along with a top up dividend of 25% of the portion of LevelJump's EBITDA that is above\n \n $2,000,000\n \n per year, divided by the then outstanding Preferred Shares. The Preferred Shares are redeemable on the fifth anniversary (the \"Redemption Date\") after issuance at a price of\n \n $1.00\n \n per Preferred Share (or at a price of\n \n $1.10\n \n 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\n \n $0.40\n \n 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.\n \n ...

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