Flow Capital Announces That Its Equity Ownership Position in Leveljump Healthcare Corp Has Fallen Below 10%

TORONTO, Jan. 18, 2021 (GLOBE NEWSWIRE) -- Flow Capital Corp. (TSXV: FW) (a??Flow Capitala?? or the a??Companya??) announces pursuant to the requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues and applicable Canadian securities legislation that on December 7, 2020, the Company acquired ownership of 4,400,000 common shares (the a??Common Sharesa??) of Leveljump (TSXV: JUMP) ("Leveljump"), representing a security holding percentage of the Company in Leveljump of 10.9%, and between January 5 and January 13, 2021, the Company completed dispositions of 373,333 Common Shares, reducing the Companya??s security holding percentage in Leveljump from 10.9% to 9.98%.
The Company acquired the 4,400,000 Common Shares at a deemed value of $0.45 per Common Share in connection with the business combination of Leveljump (formerly Good2Go2 Corp.) and Canadian Teleradiology Services, Inc. (a??CTSa??), pursuant to a buyout of the Companya??s royalty investment in CTS.Between January 5 and January 13, 2021, the Company completed dispositions of 373,333 Common Shares at an average price of $0.49 per Common Share on the TSX Venture Exchange where Leveljumpa??s Common Shares are listed for trading. The dispositions of the Common Shares were undertaken by the Company as part of its strategy to monetize non-core assets to fund capital and operational expenditures for its core assets. As a result, the Companya??s security holding percentage in Leveljump has fallen to 9.98% or 4,026,667 Common Shares.Since the Companya??s security holding percentage of Leveljump is now below 10%, following the filing of the early warning report in connection with the dispositions, the Company will no longer file early warning or insider reports in respect of its ownership of Leveljumpa??s securities, except as may be required by applicable law. Following the disposition, the Company continues to have ownership of 4,026,667 Common Shares.While the Company has no current plans or intentions relating to Leveljump securities, depending on various factors including, without limitation, Leveljumpa??s financial position, the price levels of the securities of Leveljump, conditions in the securities markets and general economic and industry conditions, Leveljumpa??s business or financial condition, and other factors and conditions deemed appropriate, the Company may acquire or dispose of additional securities of Leveljump in the future but has no current plans or future intentions to do so.
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