Nova Leap Health Corp. Closes CAD$5.5 Million Oversubscribed Non-Brokered 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, Nova Scotia, June 11, 2021 (GLOBE NEWSWIRE) — NOVA LEAP HEALTH CORP. (TSXV: NLH) (“Nova Leap” or the “Company”), a home health care organization ranked #2 on the 2020 Report on Business ranking of Canada’s Top Growing Companies, is pleased to announce it closed its non-brokered private placement, previously announced on May 31, 2021 and June 3, 2021 (the “Offering”), through the issuance of 7,638,888 common shares (the “Common Shares”) for gross proceeds of CAD$5,499,999.36 on June 11, 2021.

The Common Shares issued pursuant to the Offering are subject to a hold period until October 12, 2021. Insiders of the Company subscribed for an aggregate of 323,112 Common Shares. The Company’s material change report in relation to the insiders’ participation in the Offering will not have been filed at least 21 days before the closing of the Offering as participation was not known at that time. The Company paid cash finder’s fees of CAD$129,009.59 which was equal to 6.0% of the gross proceeds of the Offering raised through certain brokers.

The proceeds from the Offering will be used for acquisition and expansion purposes.

The securities offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Nova Leap

Nova Leap is an acquisitive home health care services company operating in one of the fastest-growing industries in the U.S. & Canada. The Company performs a vital role within the continuum of care with an individual and family centered focus, particularly those requiring dementia care. Nova Leap achieved the #2 ranking on the 2020 Report on Business ranking of Canada’s Top Growing Companies and the #10 Ranking in the 2019 TSX Venture 50™ in the Clean Technology & Life Sciences sector. The Company is geographically diversified with operations in 7 different U.S. states within the New England, South-Central and Midwest regions as well as Nova Scotia, Canada.

FORWARD LOOKING INFORMATION:

Certain information in this press release may contain forward-looking statements, such as statements regarding the anticipated use of the proceeds from the Offering. This information is based on current expectations and assumptions (including assumptions in connection with general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Risks that could cause results to differ from those stated in the forward-looking statements in this release include those relating to the ability to complete the Offering on the terms described above. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company’s filings with the Canadian securities regulators, which filings are available at www.sedar.com.

For further information:

Chris Dobbin, CPA, CA
Director, President and CEO Nova Leap Health Corp.
T: 902 401 9480 F: 902 482 5177
E:cdobbin@novaleaphealth.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.