Leveljump Healthcare Corp. announced that its wholly owned subsidiary, Canadian Teleradiology Services Inc. has acquired an existing Independent Health Facility license to operate a diagnostic imaging center, from a private Ontario vendor. The purchase price of the license was $1.4 million which was paid by $500,000 cash on hand, a $700,000 term loan financing provided by TD Canada Trust with an annual interest rate of 6.66% per year, and the issuance of 2 million JUMP common shares at a deemed issue price of $0.10 per share.

As a result of this acquisition, the Company is now proceeding with the establishment of a new x-ray and ultrasound center in North York, Ontario. The Company has leased approximately 3,000 square feet at the Yonge Sheppard Center in north central Toronto to house the new center which will be called "Yonge Sheppard X-ray & Ultrasound". TD has provided a $600,000 business line of credit facility for the purchase of related medical equipment and leasehold improvements.

The Company anticipates the new location to open in the first quarter of 2023 and become the flagship imaging center for the Company in Canada. The Ontario Ministry of Health has approved the license transfer and the new location.