Business
Nova Leap Health Corp. Announces Proposed Qualifying Transaction
Nova Leap Health Corp. Announces Proposed Qualifying Transaction Nova Leap Health ...
About this update from Nova Leap Health Corp.
[{"type":"text","content":"\n\n\n\nNova Leap Health Corp. Announces Proposed Qualifying Transaction\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.prntar{\nTEXT-ALIGN: RIGHT\n}\n\n\n\n\n\n\nNova Leap Health Corp. Announces Proposed Qualifying Transaction\nCanada NewsWire\nHALIFAX, June 3, 2016\n\n\n\nTrading Symbol: TSX-V: NLH.P\n\n\n\nHALIFAX, June 3, 2016 /CNW/ - NOVA LEAP HEALTH CORP. (\"Nova Leap\" or the \"Company\"), a capital pool company, is pleased to announce that it has entered into an arm's length term sheet dated June 3, 2016 (the \"Term Sheet\") to purchase all of the outstanding shares of Northern Family Home Care LLC (\"Northern Family HC\") (the \"Transaction\").\n\nNova Leap is a Capital Pool Company (\"CPC\") and intends the Transaction to constitute its Qualifying Transaction under the policies of the TSX Venture Exchange (the \"Exchange\").  Following completion of the Transaction, the resulting issuer will be a Tier 2 Issuer.\n\nThe Transaction\n\nUnder the terms of the Term Sheet, the shares of Northern Family HC will be purchased by a U.S. subsidiary of Nova Leap that is to be incorporated for that purpose (the \"Nova Leap Subsidiary\").  The Nova Leap Subsidiary will purchase all of the outstanding shares of Northern Family HC for a total purchase price of $265,000 (USD) net of long term debt.\n\nSponsorship of a Qualifying Transaction of a CPC is required by the Exchange unless exempt in accordance with Exchange policies or waived by the Exchange. The Transaction may require sponsorship and Nova Leap plans to provide a news release update should a sponsor be retained.  Nova Leap's shares have been halted from trading as a result of the announcement of the Transaction.  Nova Leap expects that trading in its common shares will remain halted pending closing of the Qualifying Transaction. The common shares of Nova Leap may trade sooner, only upon Exchange approval and the filing of required materials with the Exchange as contemplated by Exchange policy.\n\nCompletion of the Transaction is subject to a number of conditions including, but not limited to, Exchange...