Jack Nathan Health Provides Corporate Update
Jack Nathan Medical Corp. (TSXV: JNH; OTCQB: JNHMF) has secured an additional Cdn$474,000 in debt funding from Wal-Mart Canada Corp., its secured lender. This funding is intended to support the company's operations for August 2024 while it pursues alternative financing and explores strategic options. The loan is an extension of the existing secured credit facility from September 27, 2022, with a 7% annual interest rate.
Concurrently, Jack Nathan Health is developing a Transition Plan for an orderly wind-down of its business and assets if additional financing is not secured soon. The company continues to assess strategic initiatives to optimize operations and consider M&A opportunities to strengthen its financial position. However, there are no guarantees of success in these efforts.
Jack Nathan Medical Corp. (TSXV: JNH; OTCQB: JNHMF) ha ottenuto un ulteriore finanziamento in debito di Cdn$474.000 da Wal-Mart Canada Corp., suo creditore garantito. Questo finanziamento è destinato a supportare le operazioni dell'azienda per agosto 2024, mentre cerca finanziamenti alternativi ed esplora opzioni strategiche. Il prestito è un'estensione della linea di credito garantita esistente dal 27 settembre 2022, con un tasso di interesse annuo del 7%.
Contemporaneamente, Jack Nathan Health sta sviluppando un Piano di Transizione per una chiusura ordinata della sua attività e dei suoi beni se non verranno assicurati finanziamenti aggiuntivi a breve. L'azienda continua a valutare iniziative strategiche per ottimizzare le operazioni e considerare opportunità di M&A per rafforzare la sua posizione finanziaria. Tuttavia, non ci sono garanzie di successo in questi sforzi.
Jack Nathan Medical Corp. (TSXV: JNH; OTCQB: JNHMF) ha asegurado un financiamiento adicional de Cdn$474,000 en deuda de Wal-Mart Canada Corp., su prestamista garantizado. Este financiamiento está destinado a apoyar las operaciones de la empresa para agosto de 2024 mientras busca financiamiento alternativo y explora opciones estratégicas. El préstamo es una extensión de la línea de crédito garantizada existente desde el 27 de septiembre de 2022, con una tasa de interés anual del 7%.
Al mismo tiempo, Jack Nathan Health está desarrollando un Plan de Transición para un cierre ordenado de su negocio y activos si no se asegura financiamiento adicional pronto. La empresa continúa evaluando iniciativas estratégicas para optimizar las operaciones y considerar oportunidades de fusiones y adquisiciones para fortalecer su posición financiera. Sin embargo, no hay garantías de éxito en estos esfuerzos.
잭 네이선 메디컬 코퍼레이션 (TSXV: JNH; OTCQB: JNHMF)은 월마트 캐나다에서 Cdn$474,000의 추가 부채 자금을 확보했습니다. 이 자금은 2024년 8월 동안 회사의 운영을 지원하기 위한 것으로, 대체 자금을 추구하고 전략적 옵션을 탐색하는 데 사용됩니다. 이 대출은 2022년 9월 27일에 설정된 기존의 유료 신용 시설의 연장으로, 연 이자율 7%입니다.
동시에 잭 네이선 헬스는 추가 자금이 조속히 확보되지 않을 경우 사업과 자산의 정리된 종료를 위한 전환 계획을 개발하고 있습니다. 이 회사는 운영 최적화를 위한 전략적 이니셔티브를 계속 평가하고 재무 위치를 강화하기 위한 M&A 기회를 고려하고 있습니다. 그러나 이러한 노력에는 성공의 보장이 없습니다.
Jack Nathan Medical Corp. (TSXV: JNH; OTCQB: JNHMF) a obtenu un financement supplémentaire en dette de Cdn$474,000 de la part de Wal-Mart Canada Corp., son créancier sécurisé. Ce financement est prévu pour soutenir les opérations de l'entreprise jusqu'à août 2024 pendant qu'elle recherche des financements alternatifs et explore des options stratégiques. Le prêt est une extension de la ligne de crédit sécurisée existante depuis le 27 septembre 2022, avec un taux d'intérêt annuel de 7%.
En parallèle, Jack Nathan Health élabore un plan de transition pour une cessation ordonnée de ses activités et de ses actifs si un financement supplémentaire n'est pas obtenu rapidement. L'entreprise continue d'évaluer des initiatives stratégiques pour optimiser ses opérations et considère des opportunités de fusions et acquisitions pour renforcer sa position financière. Cependant, il n'y a aucune garantie de succès dans ces efforts.
Jack Nathan Medical Corp. (TSXV: JNH; OTCQB: JNHMF) hat zusätzliches Cdn$474,000 an Fremdfinanzierung von Wal-Mart Canada Corp., seinem gesicherten Kreditgeber, gesichert. Diese Finanzierung soll die Betriebsabläufe des Unternehmens bis August 2024 unterstützen, während alternative Finanzierungsquellen gesucht und strategische Optionen erkundet werden. Das Darlehen ist eine Erweiterung der bestehenden gesicherten Kreditfazilität vom 27. September 2022, mit einem jährlichen Zinssatz von 7%.
Gleichzeitig entwickelt Jack Nathan Health einen Übergangsplan für eine ordnungsgemäße Abwicklung seines Geschäfts und seiner Vermögenswerte, falls nicht bald zusätzliche Finanzierung gesichert werden kann. Das Unternehmen bewertet weiterhin strategische Initiativen zur Optimierung der Betriebsabläufe und prüft M&A-Möglichkeiten zur Stärkung seiner finanziellen Lage. Es gibt jedoch keine Garantien für den Erfolg dieser Bemühungen.
- Secured additional Cdn$474,000 in debt funding for August 2024 operations
- Exploring strategic alternatives and M&A opportunities
- Developing a Transition Plan for potential business wind-down
- Uncertainty in securing additional financing
- Potential implementation of Transition Plan if financing efforts fail
The Loan is being advanced by way of an increase in the maximum amount available under the existing secured credit facility with the Lender entered into on September 27, 2022 (the “Existing Facility”) (reference is made to the Company’s September 27, 2022 press release filed on SEDAR+), such that the terms of the Loan are the same as the Existing Facility, including the interest rate of
The Company continues to assess various strategic initiatives to optimize operations and consider M&A and/or financing opportunities to strengthen the Company’s financial position. No assurances can be provided that these efforts will be successful. In the absence of being able to secure additional financing in the near term, the Company expects the Transition Plan to be implemented.
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
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.
Cautionary Note Concerning Going Concern
As previously reported by the Company in its consolidated financial statements and related management’s discussion and analysis filed on SEDAR+ (www.sedarplus.ca), the Company requires additional financing to enable it to continue operations. In the absence of additional financing in the near term, the Company is not expected to have sufficient funds to meet its obligations. As noted in this press release, the Company is actively pursuing alternatives to raise the necessary additional financing. There can be no assurances that the Company will be able to secure the necessary financing to enable it to continue as a going concern.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240807797398/en/
Jack Nathan Medical Corp., Mike Marchelletta, Vice Chairman; phone: (416) 518-1000.
Source: Jack Nathan Medical Corp.
FAQ
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