Jack Nathan Medical Announces Acceleration of Expiry Date of Outstanding Warrants
TORONTO--(BUSINESS WIRE)-- Jack Nathan Medical Corp. (TSXV:JNH) (“Jack Nathan Health” “JNH” or the “Company”) a provider of primary care medical clinics located in Walmart® Supercentres under the Jack Nathan Health® brand, today announced that it has elected to accelerate the expiry date of 5,648,105 outstanding warrants (the "Warrants") issued on September 30, 2020. Each Warrant may be exercised to acquire one common share of Jack Nathan (a "Common Share") at an exercise price of $0.75 per share (the "Exercise Price"), for gross proceeds to Jack Nathan of up to $4,236,079 if all Warrants are exercised. As at October 28, 2020, 893,500 warrants have been exercised for gross proceeds to Jack Nathan of $670,125. Under the terms of the Warrants, Jack Nathan is permitted to accelerate the expiry date of the Warrants if the volume weighted average trading price of the Common Shares on the TSX Venture Exchange is greater than $1.00 for any consecutive 10 trading day period (the "Acceleration Event"). Jack Nathan is pleased to confirm that an Acceleration Event occurred as of October 28, 2020. Accordingly, Jack Nathan has chosen to accelerate the expiry time of the Warrants to 5 p.m. (Toronto time) on November 30, 2020 (the "Accelerated Expiry"). Notice of the Accelerated Expiry will be given to the warrant agent and all registered holders of Warrants effective today, in accordance with the terms of the warrant indenture.
About Jack Nathan Medical Corp.
Jack Nathan Medical Corp., operating as Jack Nathan Health®, is one of Canada’s largest health care networks. Jack Nathan Health® is an innovative health care company that is improving access for millions of patients by co-locating physician and ancillary medical services conveniently located inside Walmart® stores.
Jack Nathan Health® provides an exceptional level of patient care, made possible through patient-centric physicians, a variety of medical services, technology and programs, designed to put patients first. Our mission is to provide everyone access to the finest quality retail medical centres, with both in-clinic physicians and digital telemedicine, so you and your loved ones can “Live Your Best Life”.
Jack Nathan Health® was established in 2006 and continues to expand its international footprint, delivering exceptional, state-of-the-art, turn-key medical centres in 76 Walmart locations across Canada including British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec, as well as six locations in Mexico.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to Jack Nathan are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to them, and are subject to certain risks, uncertainties and assumptions 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. Such factors include but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative and other judicial, regulatory, political and competitive developments; the economic and business impact of Covid19 and operational difficulties. This list is not exhaustive of the factors that may affect forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
Source: Jack Nathan Medical Corp.