Toronto, Ontario–(Newsfile Corp. – February 8, 2022) – 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, following its press release on January 11, 2022, it completed the acquisition of three independent healthcare facilities (“IHF”) based in Ontario.

The purchase was structured as an all-cash purchase with an aggregate value of $4.3 million. The financing was provided through a combination of a $3.2 million TD Bank term loan (the “TD Loan”) to the Company’s wholly-owned subsidiary, Canadian Teleradiology Services, Inc. (“CTS”), and cash. The TD loan is amortized over 10 years with an initial 2-year interest rate of 4.02%, with monthly payments of principal and interest and an annual payment of 25% of excess EBITDA on principal.

The TD Loan is secured by a general security agreement (a “GSA”) on all assets of CTS and newly acquired IHFs as well as corporate guarantees and GSAs provided by IHFs on their operating assets. Leveljump also provides a limited remedy warranty which is only enforceable to the extent of any defect upon sale of CTS.

As of December 31, 2021, IHF reported combined revenues of $1,350,000 with EBITDA of over $400,000.

The vendor has signed a non-competition agreement for a period of 5 years, but will provide transitional support services to Leveljump for a period of 30 days after closing.

Management will develop and execute its business plan to increase the number of patients in IHF clinics. Two of the clinics have been in business for over twenty years and have established relationships within their community. Both of these IHF clinics have seen growth during Covid and with the backlog in the healthcare system, CTS believes it can increase business at these locations. The third IHF clinic has only been in business for a few years and is the only IHF in its community. CTS will implement various marketing efforts to increase revenue at this location.

“As we have previously indicated, this transaction represents a significant milestone for the company as it demonstrates our execution of the next phase of our business plan to grow through business acquisitions with revenue and flow strong cash flow,” said Mitch Geisler, CEO. “We are very pleased to be able to add both the capacity and revenue from these IHFs to our operations.”

About Leveljump Healthcare

Leveljump Healthcare Corp., (TSXV: JUMP) (OTCQB: JMPHF) (FSE: 75J) is a healthcare company focused on cost-effective telehealth solutions as well as primary care radiology services. The Company’s subsidiary, CTS, provides offsite radiology readings for hospital emergency rooms and is a leader in teleradiology in Ontario. As part of our growth strategy, we acquire healthcare companies that have strong revenues and cash flows, with room for organic growth.

ON BEHALF OF THE BOARD OF DIRECTORS OF
LEVELJUMP HEALTHCARE CORP.

Mitchell Geisler, General Manager
[email protected]
(833) 840-2020

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This press release contains “forward-looking information” within the meaning of applicable securities laws relating to the Company’s business plans and the Company’s industry outlook. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors which have been deemed appropriate, that the expectations reflected in such forward-looking information are reasonable, it should not be unduly relied upon as the Company cannot guarantee that they will prove to be accurate. Actual results and developments may differ materially from those contemplated by such statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update or revise them to reflect new events or circumstances other than those required by securities laws. applicable securities. The Company assumes no obligation to comment on any analyses, expectations or statements made by third parties with respect to the Company, Canadian Teleradiology Services, Inc., their securities or their respective financial or operating results. (depending on the case).

Neither the Bourse nor its Regulation Services Provider (as that term is defined in the policies of the Bourse) accepts responsibility for the adequacy or accuracy of this release.

The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “United States Securities Act”) or any United States securities law , and may not be offered or sold in the United States. of the United States or to, or on behalf of or for the benefit of persons in the United States in the absence of registration or an applicable exemption from the registration requirements of United States securities law and United States laws applicable to securities. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or in any other jurisdiction.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/113174