Nova Leap Health closes $210K 2nd tranche of private placement

Nova Leap Health Corp.



News Release

Nova Leap Health Corp. Closes Second Tranche of Private Placement

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

HALIFAX, October 16, 2017- NOVA LEAP HEALTH CORP. (TSXV: NLH) (“Nova Leap” or the “Company”), a company focused on the home health care industry, closed the second and final tranche of its previously announced private placement for proceeds of CAD$210,000 through the issuance of 1,050,000 units at a price of CAD$0.20 per unit. Together, with the first tranche, total proceeds were CAD$990,000, part of which were used to fund the Armistead Senior Care asset acquisition on October 6, 2017, with the remainder to be used for working capital.

Each unit is comprised of one common share of the Company and a one-half common share purchase warrant. Two half-warrants entitle the holder to acquire one common share of the Company for CAD$0.35 for a period of 24 months from the closing date of this private placement. The common shares and warrants are subject to a 4 month hold period.

About Nova Leap

The Home Care Providers industry is becoming one of the fastest growing healthcare industries in Canada and the United States. Home care saves patients billions of dollars every year by treating them in their own homes instead of in hospitals. An aging population, the prevalence of chronic disease, growing physician acceptance of home care, medical advancements and a movement toward cost-efficient treatment options from public and private payers have all fostered industry growth. Nova Leap is focused on a highly fragmented market of small privately-held companies providing patients one on one care in their homes. Nova Leap’s post acquisition organic growth strategy is to increase annual revenue per location through a combination of increased employee investment, including training, focused sales and marketing efforts, billing rate increases, expansion of geographical coverage, and improved referral sources.

For further information:

Christopher Dobbin, CPA, CA, Director, President and CEO Nova Leap Health Corp., T: 902 401 9480 F: 902 482 5177 cdobbin@novaleaphealth.com
John Boidman, Vice President Renmark Financial Communications Inc. T: 416 644-2020 or 514 939-3989 jboidman@renmarkfinancial.com

CAUTIONARY STATEMENT:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.