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 it has acquired 23.8% of the issued and outstanding shares of each of Shaw Vision Inc. ("Shaw Vision") and Shaw Lens Inc. ("Shaw Lens") from a minority shareholder (the "Shaw Acquisition").
The aggregate purchase price of the Shaw Acquisition is $129,500 and will be paid through issuance of 350,000 common shares of the Company ("JUMP Shares") at a deemed issuance price of $0.28 per JUMP Share and 350,000 non-transferable common share purchase warrants of the Company ("JUMP Warrants"). Each JUMP Warrant entitles the holder to purchase one common share of the Company at an exercise price of $0.30 per share prior to December 31, 2023. The Shaw Acquisition is an arm's length transaction. There are no finder's fees payable.
The Shaw Acquisition has been approved by the boards of Shaw Vision and Shaw Lens. Closing of the Shaw Acquisition is subject to the final consent of the TSX Venture Exchange.
All securities issued will be subject to a hold period of four months and one day pursuant to applicable securities laws.
Both Shaw Vision Inc. and Shaw Lens Inc. are Toronto-based privately owned federal corporations.
About Shaw Lens and Shaw Vision
Shaw Lens holds a U.S. patent protected lens technology that can solve a condition for people who wear glasses, known as aniseikonia. It is a condition that causes each eye to perceive the size of objects differently. Issues related can include headaches, double vision, disorientation or dizziness, tearing, eye pain or fatigue, sensitivity to light, visual acuity issues and trouble reading, as well as nausea…according to the Columbia University Department of Ophthalmology… "20-30% of the general spectacle wearing population may have a measurable amount of aniseikonia." The potential market size for corrective lenses for aniseikonia is over 800 million people that may be currently living with some degree of aniseikonia and its relative effects.
More information about Shaw can be found at www.shawlens.com
Quotes from JUMP CEO and Shaw CEO
"The Shaw Lens has proven to be effective with positive feedback from both doctors and patients," said Mitch Geisler, CEO. "We believe the keys to success are to work with the Shaw Lens management team, in order to expand the company and improve its operating systems. We would like to increase sales and marketing efforts to ensure that all optometrists are aware of the product and begin offering the lens to patients, and to back that up with a stable production effort and supply."
"The management at SHAW LENS looks forward to working with the resources at Leveljump to expand SHAW's customer base in all eyecare markets. The iseikonic lens technology is incredible -- lives are changed with the benefits of SHAW LENS." - Peter Shaw, CEO
Leveljump plans to be an active shareholder in Shaw and to assist Shaw in executing its business plan and expand the Shaw manufacturing capabilities in order to greatly expand Shaw revenues and grow its business.
About Leveljump Healthcare
LevelJump Healthcare Corp., (TSXV: JUMP) (OTCQB: JMPHF) (FSE: 75J) is building a national medical diagnostic imaging company and brand, primarily by providing teleradiology (remote radiology) services to its client hospitals and imaging centers. Additionally, JUMP plans to expand through the acquisition of independent healthcare facilities focused on diagnostic imaging as well as acquiring new disruptive imaging technologies.
ON BEHALF OF THE BOARD OF DIRECTORS OF
Mitchell Geisler, Chief Executive Officer
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company's business plans and the outlook of the Company's industry. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Company, Canadian Teleradiology Services, Inc., their securities, or their respective financial or operating results (as applicable).
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/95031