LevelJump Healthcare (CSE: JUMP) this morning announced the closing of a previously announced financing with strategic investors. The financing saw the company raise a total of $1.5 million from the sale of units of the company.
Under the terms of the financing, each unit sold contained one common share and one common share purchase warrant of the company, with units priced at $0.15 per each. Each warrant contains an exercise price of $0.20 and is valid for a period of just under three years.
Proceeds from the financing are to be used for acquisitions as well as general working capital purposes.
“We are really pleased with the market response to our offering, and the support of our strategic investors who believe in the vision of the Company. We have now strengthened our balance sheet. Given that our CTS subsidiary generates positive cash flow from its current operations we can designate this new capital towards growing the Company.”
Mitch Geisler, CEO of LevelJump Healthcare
LevelJump Healthcare last traded at $0.195 on the TSX Venture.
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