Jack Nathan Health Announces Convertible Debenture Financing with Wal-Mart
Summary
Jack Nathan Medical Corp. (TSXV: JNH, OTCQB: JNHMF) (Jack Nathan Health, JNH or the Company) is pleased to announce the signing of a secured convertible debenture (the Debenture) in the principal amount of C$8,000,000 (the Transaction)with Wal-Mart Canada Corp. (Wal-Mart).This Transaction further supports JNHs national expansion strategy, providing an important catalyst for rapid growth. This commitment allows us to gain access to many more Canadians across the country for all of their medical needs including family practice, urgent care and specialty services all under their respective provincial health plans. Closing of the Transaction remains subject to approval by shareholders of the Company and the satisfaction of certain customary conditions precedent, including the final acceptance of the TSX Venture Exchange. In Canada, the Company has 75 clinics in Walmart locations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec. 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.