N.W. Fulcher Limited Acquires Convertible Debentures of Nova Leap Health Corp.
HALIFAX, Nova Scotia, Dec. 31, 2019 (GLOBE NEWSWIRE) — N.W. Fulcher Limited (“Fulcher”) announces that it has acquired ownership of unsecured convertible debentures in the aggregate principal amount of $1,000,000 (the “Debentures”) of Nova Leap Health Corp. (TSXV: NLH) (“Nova Leap”), with its head office at 5003-7071 Bayers Road, Halifax, Nova Scotia, B3L 2C2. Fulcher is owned and controlled by Wayne Fulcher. The Debentures are convertible into common shares of Nova Leap at a conversion price of $0.52 per common share at any time until the date that is five (5) years after the issue date. The Debentures bear interest at the rate of 8.0% per annum, payable semi-annually.
The Debentures were purchased by way of a private placement and were acquired for investment purposes. Fulcher may, from time to time, increase or decrease its holdings of securities of Nova Leap, depending on market and other conditions.Fulcher’s acquisition of the Debentures, assuming exercise of the 1,025,000 warrants to acquire common shares held by Fulcher (the “Warrants”) and conversion of the Debentures into common shares of Nova Leap, represents approximately 2.98% of the common shares of Nova Leap issued and outstanding.Immediately before the acquisition, Fulcher and its joint actors owned 9,508,333 common shares of Nova Leap and the Warrants. Assuming conversion of the Warrants, the aggregate number of common shares of Nova Leap held by Fulcher and its joint actors before the acquisition represented approximately 16.80% of all issued and outstanding common shares of Nova Leap.Following the acquisition and assuming exercise of the Warrants and conversion of the Debentures, Fulcher and its joint actors now own 12,456,409 common shares of Nova Leap, which represents approximately 19.28% of all issued and outstanding common shares of Nova Leap.Further details on the information above concerning Fulcher may be obtained from the Early Warning Report filed on SEDAR or by contacting Christopher Dobbin, President & CEO of Nova Leap Health Corp. at 902.401.9480.
The Debentures were purchased by way of a private placement and were acquired for investment purposes. Fulcher may, from time to time, increase or decrease its holdings of securities of Nova Leap, depending on market and other conditions.Fulcher’s acquisition of the Debentures, assuming exercise of the 1,025,000 warrants to acquire common shares held by Fulcher (the “Warrants”) and conversion of the Debentures into common shares of Nova Leap, represents approximately 2.98% of the common shares of Nova Leap issued and outstanding.Immediately before the acquisition, Fulcher and its joint actors owned 9,508,333 common shares of Nova Leap and the Warrants. Assuming conversion of the Warrants, the aggregate number of common shares of Nova Leap held by Fulcher and its joint actors before the acquisition represented approximately 16.80% of all issued and outstanding common shares of Nova Leap.Following the acquisition and assuming exercise of the Warrants and conversion of the Debentures, Fulcher and its joint actors now own 12,456,409 common shares of Nova Leap, which represents approximately 19.28% of all issued and outstanding common shares of Nova Leap.Further details on the information above concerning Fulcher may be obtained from the Early Warning Report filed on SEDAR or by contacting Christopher Dobbin, President & CEO of Nova Leap Health Corp. at 902.401.9480.