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Nova Leap Health to raise C$2.5M via brokered private placement

Nova Leap Health Corp. is selling up to 7,142,857 common shares in a brokered private placement at 35 Canadian cents apiece to raise gross proceeds of up to C$2.5 million.

The best efforts offering is being conducted by a syndicate of agents jointly led by Haywood Securities Inc. and Gravitas Securities Inc.

The company granted the syndicate of agents an option to sell up to an additional 1,071,429 shares in the offering.

Nova Leap Health noted that the transaction may be completed in multiple tranches. The final closing will occur Oct. 12, subject to the receipt of all necessary regulatory approvals, including the TSX Venture Exchange.

The Dartmouth, Nova Scotia-based healthcare services provider will use the net proceeds to fund its $1.6 million acquisition of a home care services company based in Massachusetts. A portion of the proceeds will also go to working capital and general corporate purposes.