TORONTO, Ontario—Leveljump Healthcare Corp. (TSXV: JUMP), a Canadian telehealth company, has acquired 23.8 percent of the issued and outstanding shares of each of Shaw Vision Inc. and Shaw Lens Inc. from a minority shareholder. Shaw Lens holds a U.S. patent-protected spectacle lens technology that is used to treat aniseikonia, a condition that causes each eye to perceive the size of objects differently. Issues related can include headaches, double vision, disorientation or dizziness, tearing, eye pain or fatigue, sensitivity to light, visual acuity issues and trouble reading, as well as nausea.

"The Shaw Lens has proven to be effective with positive feedback from both doctors and patients," said Mitch Geisler, Leveljump’s CEO. "We believe the keys to success are to work with the Shaw Lens management team, in order to expand the company and improve its operating systems. We would like to increase sales and marketing efforts to ensure that all optometrists are aware of the product and begin offering the lens to patients, and to back that up with a stable production effort and supply."

Shaw Lens founder and CEO, Peter Shaw, remarked, "The management at Shaw Lens looks forward to working with the resources at Leveljump to expand Shaw’s customer base in all eyecare markets. The iseikonic lens technology is incredible—lives are changed with the benefits of Shaw Lens."

Leveljump plans to be an active shareholder in Shaw and to assist Shaw in executing its business plan and expand the Shaw manufacturing capabilities in order to greatly expand Shaw revenues and grow its business, the company said in a statement.

The aggregate purchase price of the Shaw acquisition is $129,500 and will be paid through issuance of 350,000 common shares of the company at a deemed issuance price of $0.28 per JUMP Share and 350,000 non-transferable common share purchase warrants of the company, according to a statement from Leveljump. Each JUMP Warrant entitles the holder to purchase one common share of the company at an exercise price of $0.30 per share prior to Dec. 31, 2023.

The Shaw acquisition has been approved by the boards of Shaw Vision and Shaw Lens. Closing of the Shaw acquisition is subject to the final consent of the TSX Venture Exchange.
Both Shaw Vision Inc. and Shaw Lens Inc. are Toronto-based privately owned federal corporations.