Nova Leap Health Corp. Enters Definitive Agreement to Purchase Vermont and New Hampshire Home Care Business Assets

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[{"type":"text","content":"Nova Leap Health Corp. Enters Definitive Agreement to Purchase Vermont and New Hampshire Home Care Business Assets(via TheNewswire)\n \n \nHALIFAX / TheNewswire / September 11, 2017 - NOVA LEAP HEALTH CORP. (TSXV: NLH) (\"Nova Leap\" or the \"Company\"), is pleased to announce that it has entered into a definitive asset purchase agreement (\"the Transaction\") with AME, LLC d/b/a Armistead Senior Care and its shareholders (collectively \"Armistead\") dated September 8, 2017 (the \"Definitive Agreement\") to purchase substantially all of the business assets of Armistead, which has locations in South Burlington, Vermont and Lebanon, New Hampshire, USA (\"the Acquisition\"). The Acquisition is subject to the completion of due diligence, financing, approval of the home care service provider license revision by the state of New Hampshire and TSX Venture Exchange approval. The Transaction is expected to close in October, 2017.\n\n \n \n\"We are very pleased to be partnering with the team at Armistead. They share our vision and commitment to ongoing training of employees and of service to people in their homes\", noted Chris Dobbin President and CEO of Nova Leap. \"The acquisition further expands our footprint into New England and allows us to enter two markets we had previously identified as growth opportunities. We intend on opening up to six new locations within Vermont and New Hampshire in 2018.\"\n\n \n \nThe Transaction \n\n\n \nUnder the terms of the Definitive Agreement, substantially all of the business assets of Armistead will be purchased by an existing Nova Leap subsidiary, Nova Leap Health NH, LLC (\"the Nova Leap Subsidiary\"), for a total purchase price of US$1.0 million. The purchase is expected to be funded by a combination of US$600,000 cash and US$400,000 Nova Leap shares at 20? per share. The Nova Leap shares are subject to a one (1) one year hold period from the date of closing. Upon closing of the Acquisition, the Nova Leap Subsidiary will continue to carry on business as Armistead Senior Care. Nova Leap's existing operation in Littleton, New Hampshire, Northern Family Home Care, will be rebranded as Armistead.\n\n \n \nThe Acquisition is an arm's length transaction which is expected to constitute an Expedited Acquisition pursuant to TSX Venture Exchange Policy 5.3 - Acquisitions and Disposition of Non-Cash Assets...

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