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NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES HALIFAX, Nova Scotia, Nov. 26, 2024 (GLOBE NEWSWIRE) -- NOVA LEAP HEALTH CORP. (TSXV: NLH) (“Nova Leap” or “the Company”), a growing home health care organization, is pleased to announce that it has entered into an agreement to amend its existing credit agreement (the “Credit Agreement”) with BMO Bank of Montreal for new credit facilities (the “Credit Facilities”). The amended Credit Agreement will provide up to an additional $7 million of available credit to support the Company’s long-term growth strategy. All amounts are in United States dollars unless otherwise specified. The Credit Facilities consist of non-readvanceable demand acquisition lines to assist with business acquisitions, including the Nova Scotia acquisition announced on October 29, 2024, the Florida acquisition announced on October 15, 2024, and future business acquisitions approved by the lender, in addition to the Company’s existing facilities for working capital and day-to-day operating needs. The acquisition lines are available as CAD prime (prime rate plus 1.50%) and USD base rate (base rate plus 1.50%) loans, as well as fixed rate loans with rates determined at the time of booking. The Credit Facilities contain financial and other covenants and security in favour of the lender which are customary for facilities of this nature, including security over the assets of the Company and its subsidiaries, and are conditional upon obtaining coverage under Export Development Canada’s Export Guarantee Program. Management Comments “We are pleased to secure the new Credit Facilities. Our ability to complete this transaction reflects the consistent cash flow and financial results that we have produced. With our strong Adjusted EBITDA over the past six quarters, our capital structure can comfortably support increased debt, while still maintaining financial flexibility,” said Chris LeBlanc, Chief Financial Officer of Nova Leap. “The successful negotiation of the Credit Facilities provides us with greater financial flexibility to execute on our growth strategy that consists of investing in our business to drive organic growth and in pursuing strategic acquisitions,” said Chris Dobbin, President & CEO of Nova Leap. About Nova Leap Nova Leap is an acquisitive home health care services company operating in one of the fastest-growing industries in the U.S. & Canada. The Company performs a vital role within the continuum of care with an individual and family centered focus, particularly those requiring dementia care. Nova Leap achieved the #42 ranking on the 2021 Report on Business ranking of Canada’s Top Growing Companies, the #2 ranking on the 2020 Report on Business ranking of Canada’s Top Growing Companies and the #10 Ranking in the 2019 TSX Venture 50TM in the Clean Technology & Life Sciences sector. The Company is geographically diversified with operations in 10 different U.S. states within the New England, Southeastern, South Central and Midwest regions as well as in Nova Scotia, Canada. NON-IFRS MEASURES: This release contains references to certain measures that do not have a standardized meaning under IFRS as prescribed by the International Accounting Standards Board (“IASB”) and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS measures by providing a further understanding of operations from management’s perspective. Accordingly, non-IFRS financial measures should not be considered in isolation or as a substitute for analysis of financial information reported under IFRS. The Company presents non-IFRS financial measures, specifically Adjusted EBITDA (as such term is hereinafter defined), as well as supplementary financial measures such as annualized revenue and annualized adjusted EBITDA. The Company believes these non-IFRS financial measures are frequently used by lenders, securities analysts, investors and other interested parties as a measure of financial performance, and it is therefore helpful to provide supplemental measures of operating performance and thus highlight trends that may not otherwise be apparent when relying solely on IFRS financial measures. Adjusted Earnings before interest, taxes, amortization and depreciation (“Adjusted EBITDA”), is calculated as income from operating activities plus amortization and depreciation and stock-based compensation expense. The most directly comparable IFRS measure is income from operating activities. FORWARD LOOKING INFORMATION: Certain information in this press release may contain forward-looking statements, such as statements regarding availability of the Credit Facilities, the closing of the acquisitions (including timing) and its expected impact on the Company, financing of the acquisitions, and plans regarding future acquisitions and business growth. This information is based on current expectations and assumptions, including assumptions described elsewhere in this release and those concerning general economic and market conditions, the satisfaction of conditions to closing the Credit Facilities and the acquisitions, availability of working capital necessary for conducting Nova Leap’s operations, availability of desirable acquisition targets and financing to fund such acquisitions, and Nova Leap’s ability to integrate its acquired businesses and maintain previously achieved service hour and revenue levels, that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Risks that could cause results to differ from those stated in the forward-looking statements in this release include staff and supply shortages, regulatory changes affecting the home care industry or government programs utilized by the Company, other unexpected increases in operating costs and competition from other service providers. All forward-looking statements, including any financial outlook or future-oriented financial information, contained in this press release are made as of the date of this release and included for the purpose of providing information about management's current expectations and plans relating to the future, and these statements may not be appropriate for other purposes. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedarplus.com . CAUTIONARY STATEMENT: Neither 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.The developer of recently-announced virtual pet simulator game Catly has responded to allegations that the game's trailer and marketing was produced using generative AI, saying that no such technology was used in its announcement at The Game Awards, nor in the game itself. In a statement shared with IGN, a PR representative authorized to speak on behalf of developer SuperAuthenti said that generative AI was not used to produce the trailer, nor the game. Furthermore, the representative said the developer was "very surprised by such speculations," adding that "We do not think there are any existing AI tools that can produce a video like that. Industry experts have echoed this opinion." The PR representative also showed IGN a version of the trailer from The Game Awards that showed in-progress shots interspersed alongside the final version, which did seem to confirm the lack of AI use in the actual trailer production. The spokesperson confirmed to IGN that Catly is being made in Unreal Engine 5, and said the developer uses "various software" to produce hyperrealistic fur and hair. Assertions that Catly was using generative AI technology began to circulate almost immediately after its trailer debuted at The Game Awards last week. The trailer itself featured hyperrealistic cats with brightly colored fur and features bounding around a fantasy playspace and interacting with a human wearing various detailed, high fashion outfits. The art style present was flagged by many critics as reminiscent of the hyperrealistic style often produced by generative AI. That said, Catly's statement is consistent with the current reality that game trailers of this quality are not within the reach of current generative AI technology without significant, obvious artifacting and other issues. However, others pointed out that while the trailer may be legit, the other aspects of Catly's promotion are still giving some off vibes. For instance, the game's Steam description awkwardly reads, "A Cat Open World, with Beautiful Cats. Hyperrealism, Actions, Cuddle, Speed, Islands, Fashion, Dreams, Snow, Robots, Plants -- all with and via Cats." And a few of the game's promotional art pieces had odd details similar to AI artifacting, such as the odd paws and nose of this cat: And the text on the wall inside the right-hand side of the building in this image: Others unearthed more images from the official Catly website that appear to raise even more questions about their veracity. Notably, the Catly website was down as recently as Friday, and remained offline over the weekend through today when we reached out to SuperAuthenti to ask about it. The website has since been reinstated, but a number of the old images have been removed. While SuperAuthenti confirmed to me that it did not use generative AI in either the trailer or the game itself, it did not respond to my question about its promotional images on Steam or on its website. As for web3, speculation of the game's ties to the technology surfaced as individuals unearthed the studio co-founder, Kevin Yeung's, ties to other blockchain games . Additionally, the game's Steam page features a glowing quote from League of Legends and Arcane producer Thomas Vu, who himself is a prominent web3 investor. However, it also contained a quote from Hearthstone and Marvel Snap creator Ben Brode, who has taken to Bluesky to say that he's heard nothing about either AI generation or web3 involved in Catly, and that his interest is sincere. "I saw 20 [minutes] or so of gameplay footage a few months back and thought it looked cool so they asked me for a quote," he wrote . For now, it does seem that SuperAuthenti is telling the truth about the Catly trailer at The Game Awards, though the question of whether or not, or how much, generative AI has been used in Catly's overall development and promotion remains to be seen. Generative AI is becoming an increasingly popular tool for game companies, too. Call of Duty reportedly sold an "AI-generated cosmetic" for Call of Duty: Modern Warfare 3 in late 2023, and fans accused Activision of using generative AI again for a loading screen this year . EA said in September that AI was "the very core" of its business . Unfortunately, as the technology becomes both more prevalent and more complex, it seems likely it will become increasingly difficult to tell the difference between AI-generated and human-crafted work. In Catly's case, we'll have to wait for 2025 to find out more about what exactly is behind those hauntingly rainbow cat eyes from the trailer. Rebekah Valentine is a senior reporter for IGN. You can find her posting on BlueSky @duckvalentine.bsky.social. Got a story tip? Send it to rvalentine@ign.com.
COLUMBUS, Ohio (AP) — Dominic Zvada kicked a 21-yard field goal with 45 seconds left and Michigan stunned No. 2 Ohio State 13-10 on Saturday, likely ending the Buckeyes ' hopes of returning to the Big Ten title game. Late in the game, Kalel Mullings broke away for a 27-yard run, setting up the Wolverines (7-5, 5-4) at Ohio State's 17-yard line with two minutes remaining. The drive stalled at the 3, and Zvada came on for the chip shot. Ohio State (10-2, 7-2, No. 2 CFP) got the ball back but couldn't move it, with Will Howard throwing incomplete on fourth down to seal the Wolverines' fourth straight win over their bitter rival. This loss might have been the toughest of those four for Ohio State because the Wolverines were unranked and were wrapping up a disappointing season. The Buckeyes were supposed to win, but records rarely mean much when these two teams meet. Ohio State needs No. 4 Penn State and No. 10 Indiana to lose later Saturday in order to make it into the Big Ten title game next week. ATHENS, Ga. — Nate Frazier ran for a 2-point conversion in the eighth overtime of a marathon for the ages after No. 6 Georgia pulled off an improbable fourth-quarter comeback, giving the Bulldogs a 44-42 victory over Georgia Tech. After falling behind 17-0 at halftime and being dominated most of the game, the Bulldogs may have locked up a spot in the College Football Playoff — no matter how they fare in next weekend’s Southeastern Conference championship game. Carson Beck threw five touchdown passes, two of them in overtime, in a game the Bulldogs never led until after regulation. Georgia Tech was led by Haynes King, who ran for for three touchdowns and threw for two more. But the Yellow Jackets took their seventh straight loss to the Bulldogs. NASH.VILLE, Tenn. (AP) — Nico Iamaleava threw for 257 yards and four touchdowns rallying No. 7 Tennessee from a 14-point deficit within the first five minutes to rout in-state rival Vanderbilt. The Volunteers (10-2, 6-2 Southeastern Conference; No. 8 CFP) needed a big victory to impress the College Football Playoff committee enough to earn a home playoff game in December. They beat Vanderbilt (6-6, 3-5) for a sixth straight season. Better yet, they rebounded from a nightmare start giving up the first 14 points by scoring 29 straight points. They led 24-17 at halftime on Iamaleava's first three TD passes. Junior Sherrill returned the opening kickoff 100 yards for a touchdown for Vanderbilt to stun a mostly orange crowd. Dylan Sampson fumbled on the Vols' second play from scrimmage, and Sedrick Alexanader's 4-yard TD run on a 26-yard drive put Vandy up 14-0 quickly. WEST POINT, N.Y. (AP) — Bryson Daily tied the American Athletic Conference record for single-season touchdowns and threw for a season-high 190 yards and a score to lift No. 25 Army to a 29-24 win over UTSA. Army (10-1) finished the regular season 8-0 in the AAC and earned the right to host the championship game on Friday. Army finished its regular-season home schedule with a perfect 6-0 record. UTSA fell to 0-6 away from the Alamodome. Get local news delivered to your inbox!
Hurricanes visit the Panthers in Eastern Conference actionTRENTON, N.J. (WPVI) -- New Jersey Governor Phil Murphy provided an update on the recent drone sightings reported across the state. He spent the weekend observing new technology being used to track the drones. The equipment is on loan from the federal government. "There may be suspicious activity out there as we stand here today, but there is little to no evidence of that right now," Murphy told reporters in a briefing on Monday. READ MORE: Drone expert weighs in on recent sightings across Philadelphia region The governor spent part of the weekend meeting with the New Jersey State Police and the FBI after the state received three sophisticated systems from the federal government to monitor the skies and identify unmanned aircraft. "They can do everything, including mitigate the equipment, but they're not authorized to do that in the United States," explained Murphy. "They can tell with great certainty what an object is, and that'll continue." Murphy says the equipment - and experts manning it - will change locations to scan the area of critical infrastructure. READ MORE: Feds are urged to deploy high-tech drone hunters to solve mystery behind sightings It comes after weeks of reports of mysterious drones popping up over New Jersey and surrounding areas. Calls have been increasing from elected officials for the federal government to release more information about who is operating the drones and what they're doing. President-elect Donald Trump spoke at a news conference in Florida on Monday, saying he believes the government knows where the drones are coming from. "They know where it came from and where it went. And for some reason, they don't want to comment. And I think they'd be better off saying what it is. Our military knows and our president knows," said Trump. Murphy says he doesn't think that's true. "There's a lot of conspiracy theories out there right now. Let's put that one with the Iranians off to the side," said Murphy, also referring to Congressman Jeff Van Drew's claim that a reliable source told him the drones were coming from an Iranian ship off the East Coast. Trump was asked if he had received an intelligence briefing about the drones and said he said he didn't want to comment. Meanwhile, New Jersey mayors were briefed by officials from the White House Office of Intergovernmental Affairs on Monday afternoon. According to mayors in that briefing, there's no evidence of foreign interference and federal agencies continue to investigate. Officials reiterated on Monday many of the drones being reported are actually planes or manned aircraft. Murphy says so far with that new equipment, nothing suspicious has been spotted. READ MORE: NJ officials demand action and answers about drones
Social media critic Verydarkman has weighed in on the trending issue concerning a Lagos influential resident and his ex-girlfriend The wealthy man identified as Jago on social media went viral online after he called his ex-boo for leaving him for another man Jago claimed that he spent over N100m on his lost love in a space of 2 weeks while demanding for a refund to which VDM intervened Don't miss out! Join Legit.ng's Sports News channel on WhatsApp now! Nigerian social media critic Verydarkman has taken a sharp jab at Jago, a wealthy Lagos resident who made headlines on November 30. Jago's story went viral after he expressed his heartbreak over his ex-girlfriend leaving him for another man. He revealed that he had lavished her with expensive gifts, including a car and other items worth over 100 million Naira (N100M). In his emotional outburst, Jago demanded that she return everything he had given her. In response to the viral video, Verydarkman questioned Jago, asking whether he spends as extravagantly on his family members as he did on his ex-girlfriend. The critic also inquired about the whereabouts of his mother and family, and how often he communicates with them. Read also Wizkid speaks glowingly about Nigeria, peeps compare his words to Davido’s controversial interview PAY ATTENTION: Follow us on Instagram - get the most important news directly in your favourite app! VDM further pointed out how some young women use relationships to climb the social ladder and gain access to the wealth and influence they seek. He ended his remarks by advising Jago to let go of his ex while hurling insults at him. Watch his talk below: In a previous report, the Nigerian social media critic lashed out at television presenter Nyma Akashat Zibiri for attacking singer Davido (David Adeleke). The Feel hitmaker noted that the economy is in shambles and Americans should not bother to relocate to the country or even invest in it. Countering Akashat Zibiri’ s statement, Verydarkman demanded her to list the investors Tinubu and his cabinet have brought into the country. VDM attacks Tonto Dikeh for cheering Tinubu The Nigerian social media activist came for actress and politician Tonto Dikeh following her recent statements amid the nationwide protest. Read also Iyabo Ojo calls out VDM, sends him to his mother in open note: "Life shaped you into a beast" Legit.ng reported that Tonto Dikeh advised Nigerians protesting against hardship in the country to do it peacefully. This was after she applauded the president on the first day of the #Endbadgovernance protest happening nationwide. PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy! Source: Legit.ng
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