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LevelJump Announces Reinstatement of Trading on the TSX Venture Exchange and Provides Corporate Updates
Newsfileยท 2025-10-06 22:45
Core Viewpoint - LevelJump Healthcare Corp. is set to resume trading on the TSX Venture Exchange around October 9, 2025, following a trading halt, and has implemented significant procedures to capitalize on revenue growth experienced over the past year [1][2]. Corporate Updates - The annual general meeting held on September 4, 2025, resulted in the re-election of directors and the appointment of Zeifmans LLP as auditor [3]. - Shareholder dissatisfaction was noted due to withheld votes for director nominees, reflecting concerns over the delay in reinstatement to trading status [4]. Management and Financial Arrangements - The Exchange accepted notice of management contracts and insider loan arrangements, including an application to increase the maximum loan value to insiders by an additional $309,457, totaling $1,900,000 [5][9]. - The insider loans are part of a salary deferral arrangement, with the initial loan amounting to $1,590,543, and the additional loan is subject to Exchange acceptance [7][8]. Operational Decisions - The company has decided not to proceed with the purchase of its operational headquarters, which was initially planned to reduce insider loan amounts and build equity [11][12]. - A review of regulatory requirements led to the conclusion that proceeding with the purchase was not appropriate at this time [13]. Financial Position - The interim financial statements for the six-month period ending June 30, 2025, indicate a working capital deficiency of $2,637,203, with significant portions attributed to lease liabilities and trade creditor debts [14]. - The company generates sufficient cash flow to manage its lease and loan payments and is in discussions for an enhanced banking facility to address the working capital deficiency and support further acquisitions [15][16][17]. Company Overview - LevelJump Healthcare Corp. provides telehealth solutions and in-person radiology services, focusing on critical care for urgent and emergency patients [18].