01:12 PM EST - NOVA LEAP HEALTH CORP. : Announced that it has executed a non-binding Letter of Intent to acquire a home care services company located in the Northeastern United States. The Target reported unaudited revenues of approximately US$3.0 million and adjusted EBITDA of US$0.45 million for the year ended December 31, 2017. The acquisition is expected to be immediately accretive. Upon closing of the acquisition, which is targeted for the first quarter of calendar 2018, Nova Leap’s annual revenue run rate is expected to approach $7 million, an approximate 75% increase over current revenue run rate. Under the terms of the LOI, the acquisition is to be made for total consideration of $2.1 million of which $1.8 million is payable with cash on closing and $0.3 million is by way of a promissory note repayable over a two-year period. NOVA LEAP HEALTH CORP.
shares V.NLH are trading unchanged at $0.21.
