Mr. Mitchell Geisler reports

LEVELJUMP ANNOUNCES ANTICIPATED DELAY IN FILING YEAR-END REPORTING DOCUMENTS

Leveljump Healthcare Corp.'s annual audited financial statements for the fiscal year ended Dec. 31, 2024, will not be completed by the filing deadline of April 30, 2025. As a result, the company anticipates that a cease trade order will be issued shortly after the filing deadline by the Ontario Securities Commission (OSC) for failure to file the annual financial statements, accompanying management discussion and analysis, and officer certifications for the fiscal year ended Dec. 31, 2024.

Reasons for the anticipated delay

As the financial statements of Leveljump show, the company has experienced unprecedented growth over the last two to three years, primarily due to acquisitions. Between Sept. 30, 2023, and Sept. 30, 2024, for example, gross revenues increased by over 30 per cent due in large part to the Alberta acquisitions. Such growth does not come without challenges, however. The company is required to integrate the historical and current records of each acquisition into its existing accounting platform. Quite often, such integration cannot be completed without significant time and effort.

To create a more streamlined process to support this type of growth into the future, a decision was made to implement important changes to the company's accounting software and controls during fiscal 2024, which have taken time to implement. Additionally, during a continuous disclosure review by the OSC in connection with the issuance of a revocation order issued on April 23, 2024, several other accounting reporting improvements have been made.

The company has drawn upon several different resources to increase the robustness and accuracy of its financial reporting. It has, for example, retained Ernst & Young LLP as an external consultant to review the financial reporting of the company.

The company is confident that its upgraded accounting reporting will enable it to integrate new acquisitions on a much more timely basis and help to control the costs in meeting the company's continuous disclosure obligations.

Based on the foregoing and indications from its auditor, Ziefmans LLP, the company is confident that it will be able to file the required filings within 30 days after the filing deadline.

Once the required filings have been made, the company intends to proceed with an application to the TSX Venture Exchange to reinstate its listing. A further news release will be issued at that time.

About Leveljump Healthcare Corp.

Leveljump Healthcare provides telehealth solutions to client hospitals and imaging centres through its teleradiology division, as well as in-person radiology services through its diagnostic centres. Leveljump focuses primarily on critical care for urgent and emergency patients, establishing integral relationships in the communities the company serves.

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