Jack Nathan Health Announces Voting Results from Annual and Special Shareholders’ Meeting

Rhea-AI Summary

Jack Nathan Medical Corp. announced the results of its annual and special shareholders' meeting held on June 27, 2024. All agenda items were approved, including the election of directors with voting percentages ranging between 86.9% and 89.6%. Additionally, MNP LLP was reappointed as the company's auditors, with an overwhelmingly favorable vote of 99.97%. A resolution to grant stock options under the Omnibus Equity Incentive Plan was also passed. Bharat Choudhary, the CFO, is resigning effective June 28, 2024, and the company is actively searching for his replacement.

Positive

• All directors were elected with a high percentage of votes, ranging from 86.9% to 89.6%.
• The reappointment of MNP LLP as auditors received 99.97% approval.
• The resolution on granting stock options under the Omnibus Equity Incentive Plan passed with 86.9% approval.

Negative

• The CFO, Bharat Choudhary, is resigning effective June 28, 2024.

TORONTO--(BUSINESS WIRE)-- Jack Nathan Medical Corp. (TSXV: “JNH”; OTCQB: “JNHMF”) (the “Company”) is pleased to announce that all of the matters presented for approval at its annual and special meeting of shareholders of the Company (the “AGM”) held on Thursday, June 27, 2024 were approved.

All of the nominees listed in the Company’s management information circular dated May 24, 2024 forwarded to shareholders in respect of the AGM (the “Circular”) were elected at the AGM as directors of the Company, to hold office until the close of the next annual meeting of shareholders of the Company or until their successors are duly elected or appointed. The detailed results of the vote at the AGM on the election of directors are set out below:

Name	% Votes For	% Votes Withheld
Glenn Copeland	88.0%	12.0%
Anthony DeCristofaro	88.8%	11.2%
Blake D. Lyon	89.6%	10.4%
Michael Marchelletta	86.9%	13.1%
Mark Redinger	89.6%	10.4%

Shareholders of the Company also passed at the AGM the following resolutions:

(a) the resolution reappointing MNP LLP, Chartered Professional Accountants and Licensed Public Accountants, as auditors of the Company for the ensuing year and authorizing the directors of the Company to fix the auditors’ remuneration and the terms of their engagement (99.97% of the votes cast at the AGM were in favour of the resolution and 0.03% of the votes cast at the AGM were withheld from voting on the resolution); and

(b) the resolution approving the grant of certain stock options of the Company pursuant to the Company’s Omnibus Equity Incentive Plan, as described in the Circular (86.9% of the votes cast at the AGM were in favour of the resolution (all such votes were “disinterested” as per the rules of the TSX Venture Exchange) and 13.1% of the votes cast at the AGM were against the resolution).

Corporate Update

The Company also announces that Bharat Choudhary is resigning from his position as Chief Financial Officer of the Company effective June 28, 2024 to pursue new endeavours.

“I would like to thank Jack Nathan’s board, management and my colleagues for the opportunity to serve as Jack Nathan’s CFO. It’s been an honour to work with such a talented and dedicated team,” stated Bharat Choudhary.

“We would like to thank Bharat for his contributions to the Company during his tenure and wish him all the best in his future endeavours,” stated Glenn Copeland, Chief Executive Officer and President of the Company.

The Company is conducting a search process to identify a new CFO.

About Jack Nathan Medical Corp.

Jack Nathan Medical Corp., operating as Jack Nathan Health®, is one of Canada’s largest healthcare networks. Jack Nathan Health® is an innovative healthcare company that is improving access for millions of patients by co-locating physician and ancillary medical services conveniently 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 centers, 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 centers in 243 locations globally, with 183 corporately owned and operated. In Canada, the Company has 80 clinics in Walmart locations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec and 2 independent locations for a total of 82 clinics. There are currently 22 corporate owned and operated clinics of which 3 include Rehab services and 6 include MedSpa services. In Mexico, the Company has 155 corporate owned and operated clinics in Walmart locations, 5 Clinics inside Walmart Distribution Centers servicing Walmart Associates, and 1 Multidisciplinary clinic. During the most recent quarter, Jack Nathan Health, Mexico started operation of its first medical center in Mexico City.

For more information, visit www.jacknathanhealth.com or www.sedarplus.ca.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240627625643/en/

Jack Nathan Medical Corp., Bharat Choudhary, Chief Financial Officer, 416-637-2240.

Source: Jack Nathan Medical Corp.

FAQ

What were the results of Jack Nathan Medical Corp.'s annual and special shareholders' meeting?

All matters presented for approval, including the election of directors, the reappointment of auditors, and the grant of stock options, were approved.

When was the shareholders' meeting of Jack Nathan Medical Corp. held?

The shareholders' meeting was held on June 27, 2024.

What percentage of votes approved the reappointment of MNP LLP as auditors for Jack Nathan Medical Corp.?

99.97% of the votes approved the reappointment of MNP LLP as auditors.

What is the approval rate for the election of directors at Jack Nathan Medical Corp.'s AGM?

The approval rate for the election of directors ranged between 86.9% and 89.6%.

When is the CFO of Jack Nathan Medical Corp. resigning?

The CFO, Bharat Choudhary, is resigning effective June 28, 2024.

What is the ticker symbol for Jack Nathan Medical Corp.?

The ticker symbol for Jack Nathan Medical Corp. is JNHMF.