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Dartmouth, Nova Scotia / TheNewswire / December 20, 2016 - Nova Leap Health Corp. (“Nova Leap” or “the Corporation”), a home care services company with operations in the U.S., provides update on its first acquisition in New Hampshire, acquisition opportunity pipeline, change in year end, and appointment of Board Chair.

Quality Improvements, Growth Initiatives, and Investment in Technology

On October 13, 2016, Nova Leap acquired the home care assets of Northern Family Home Care, Inc. (which continues to operate as dba Northern Family Home Care (“NFHC”)) as the first of many planned acquisitions.  

Since the acquisition, Nova Leap has hired a full time Administrator for NFHC to oversee operations and to support employees.  Accounting, payroll and billing functions have all been centralized to head office which allows NFHC staff to focus on clients.  

Nova Leap has selected a technology platform for NFHC that will create efficiencies in payroll, billing and scheduling functions by integrating processes and removing the duplication of activities. Further investments are planned to ensure our employees are highly trained in dementia care; as the percentage of older adults afflicted with dementia increases every year.  

Short term goals for 2017 are to adjust billing rates to be market driven, invest in employee training, expand NFHC’s service area footprint and launch marketing initiatives.

Many smaller home care companies lack the financial resources to invest in infrastructure that will yield improvements in overall performance.   Subsequent to the acquisition, Nova Leap has focused on investing in infrastructure targeted at yielding improvements in overall performance of NFHC.

Significant Pipeline of Acquisition Opportunities

From a historical perspective, the 2016 year was one in which Nova Leap attracted key personnel, completed its seed round, IPO and first transaction.  Future growth will be achieved by acquisitions as well as through post-acquisition organic growth.

Management is in discussions with a number of potential acquisition targets that could produce in excess of USD $20-$30 million of annualized new revenues.  The pipeline of acquisition targets are comprised of non-franchised home care companies who derive the majority of their revenues from non-medical home care services.  Management intends to continue discussions with acquisition candidates where Nova Leap can acquire a company on reasonable terms, including pricing and deal structure, subject to the availability of capital to fund the acquisitions.  

“We continue to believe the market is ripe for consolidation with acquisition opportunities well beyond those currently under review,” said Chris Dobbin, Nova Leap’s President and CEO.  

Other Matters

The Board of Directors has appointed current Director, Mr. Dana Hatfield, CPA, CA as Chairman.

The Board of Directors has resolved to change the Corporation’s fiscal year end from October 31 to December 31, effective immediately, to facilitate efficiencies in the administration, accounting and production of the annual audited financial statements.

For details regarding the length and ending dates of the financial periods, including the comparative periods, of the interim and annual financial statements to be filed for the Corporation’s transition year and its new financial year, reference is made to the Notice of Change of Fiscal Year End filed by the Company on SEDAR pursuant to National Instrument 51-102.

About Nova Leap

The Home Care Providers industry is becoming one of the fastest growing healthcare industries in Canada and the United States. Home care saves patients billions of dollars every year by treating them in their own homes instead of in hospitals. An aging population, the prevalence of chronic disease, growing physician acceptance of home care, medical advancements and a movement toward cost-efficient treatment options from public and private payers have all fostered industry growth.  Nova Leap is focused on a highly fragmented market of small privately-held companies providing patients one on one care in their homes.  Nova Leap's post acquisition organic growth strategy is to increase annual revenue per location through a combination of increased employee investment, including training, focused sales and marketing efforts, billing rate increases, expansion of geographical coverage, and improved referral sources.

Forward-Looking Statements

Certain statements contained in this press release may constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Nova Leap to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. When used in this Press Release, such statements use such words as "may", "will", “estimate(d)”, "expect", "believe", "plan", "intend", "should", "anticipate" and other similar terminology. All statements other than statements of historical fact may be forward-looking information. Such statements reflect Nova Leap’s current views and intentions with respect to future events, and current information available to Nova Leap, and are subject to certain risks, uncertainties and assumptions. Material factors or assumptions were applied in providing forward-looking information, including our ability to increase sales.  Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include credit, market (including equity, commodity, foreign exchange, and interest rate), liquidity, operational (including technology and infrastructure), reputational, insurance, strategic, regulatory, legal, environmental, capital adequacy, and other risks. Examples of such risk factors include the general business and economic conditions in the regions in which Nova Leap operates; the ability of Nova Leap to execute on key priorities, including the successful completion of acquisitions, business retention, and strategic plans and to attract, develop and retain key executives; difficulty integrating newly acquired businesses; the ability to implement business strategies and pursue business opportunities; low profit market segments; disruptions in or attacks (including cyber-attacks) on Nova Leap's information technology, internet, network access or other voice or data communications systems or services; the evolution of various types of fraud or other criminal behavior to which Nova Leap is exposed; the failure of third parties to comply with their obligations to Nova Leap or its affiliates; the impact of new and changes to, or application of, current laws and regulations; dependence on few clients; a novel business model; dependence on key employees; granting of permits and licenses in a highly regulated business; the overall difficult litigation environment, including in the U.S.; increased competition; changes in foreign currency rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources to pursue operations; critical accounting estimates and changes to accounting standards, policies, and methods used by Nova Leap; and the occurrence of natural and unnatural catastrophic events and claims resulting from such events; as well as those risk factors discussed or referred to in Nova Leap’s quarterly Management's Discussion and Analysis for the quarter ended October 31, 2016,, filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should any factor affect Nova Leap in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, Nova Leap does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and Nova Leap undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Nova Leap Health Corp.
Chris Dobbin, CPA, CA
President & CEO
(902) 401-9480
info@NovaLeapHealth.com
www.NovaLeapHealth.com

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