NLH Nova Leap Health Corp

NOVA LEAP HEALTH CORP. (TSXV: NLH) (“Nova Leap” or the “Company”), a growing home health care organization, is pleased to announce it closed its non-brokered private placement, previously announced on August 23, 2022 (the “Offering”), through the issuance of 6,814,445 common shares (the “Common Shares”) for gross proceeds of CAD$2,385,055.75 on September 8, 2022.

The Common Shares issued pursuant to the Offering are subject to a hold period until January 9, 2023. Insiders of the Company subscribed for an aggregate of 5,600,087 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$12,000 which was equal to 6.0% of the gross proceeds of the Offering raised through certain brokers.

Upon subscribing to 82.18% of the Offering, insiders collectively own 38.72% of the issued and outstanding common shares of Nova Leap.

The proceeds from the Offering will be used for working capital, 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 #42 ranking on the 2021 Report on Business ranking of Canada’s Top Growing Companies, 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 11 different U.S. states within the New England, Southeastern, South Central and Midwest regions as well as in Nova Scotia, Canada.

FORWARD LOOKING INFORMATION:

Certain information in this press release may contain forward-looking statements, such as statements regarding the expected closing of and the anticipated use of the proceeds from the Offering, expected benefits of the Company’s operational changes, acquisition and expansion plans, and future access to leverage for acquisitions. This information is based on current expectations and assumptions, including assumptions described elsewhere in this release and those concerning general economic and market conditions, obtaining necessary approvals for the Offering, and the availability of desirable acquisition targets and financing to fund such acquisitions, 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 impact of the COVID-19 pandemic or any recurrence, staff and supply shortages, regulatory changes affecting the home care industry or government programs utilized by the Company, other unexpected increases in operating costs and competition from other service providers. All forward-looking statements, including any financial outlook or future-oriented financial information, contained in this press release are made as of the date of this release and included for the purpose of providing information about management's current expectations and plans relating to the future, and these statements may not be appropriate for other purposes. 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.

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.

For further information:

Chris Dobbin, CPA, CA, ICD.D
Director, President and CEO
T: 902 401 9480
E:cdobbin@novaleaphealth.com