Nova Leap Health Corp. Enters Definitive Agreement to Purchase Rhode Island Home Care Business Assets and Announces Non-Brokered Private Placement

About this update from Nova Leap Health Corp.

Nova Leap Health Corp. Enters Definitive Agreement to Purchase Rhode Island Home Care Business Assets and Announces Non-Brokered Private Placement(via TheNewswire) HALIFAX, April 21, 2017 / TheNewswire / 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 with All About Home Care, LLC ("AAHC") dated April 20, 2017 (the "Definitive Agreement") to purchase substantially all of the business assets of AAHC located in Rhode Island, USA ("the Acquisition"). The Acquisition is subject to financing, approval of the home health care license transfer by the state of Rhode Island and TSX Venture Exchange approval. "We are pleased to be moving forward with our business strategy of acquiring market-leading home care companies through the acquisition of the AAHC business, our second acquisition in New England. We are excited to work with AAHC's existing staff and management team. The work that they do is extremely important and we are committed to supporting them in providing services to the people of Rhode Island.", noted Chris Dobbin President and CEO. The Transaction Under the terms of the Definitive Agreement, substantially all of the business assets of AAHC will be purchased by a Nova Leap subsidiary, Nova Leap Health RI, LLC ("the Nova Leap Subsidiary"), for a total purchase price of US$1.2 million. The purchase is expected to be funded by a combination of cash and debt. Upon closing of the Acquisition, the Nova Leap Subsidiary will continue to carry on business as All About Home Care. The Acquisition is an arm's length transaction which is expected to constitute a Fundamental Acquisition pursuant to TSX Venture Exchange Policy 5.3 - Acquisitions and Disposition of Non-Cash Assets. Nova Leap's shares have been halted from trading as a result of the announcement of the Acquisition. Nova Leap expects that trading in its common shares will resume trading upon acceptance by the TSX Venture Exchange. About AAHC AAHC operates as a private duty home health care agency offering both skilled nursing and non-medical services for families in Rhode Island. AAHC's registered office and principal place of business is 438 East Main Road, Middletown, Rhode Island 02842. Revenues for year ended 2016 and 2015 were US$2.091 million (audited) and US$2.057 (unaudited) respectively. Pr...

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