Jack Nathan Health to Appoint New Chief Financial Officer

Rhea-AI Summary

Jack Nathan Medical Corp. (TSXV: JNH, OTCQB: JNHMF) announced the departure of CFO David Berman, effective September 19, 2022. The company appointed Spence Walker as interim CFO, bringing over 15 years of experience in advisory roles for emerging growth companies. Walker's expertise in financial strategy is expected to support JNH's growth objectives. Jack Nathan Health operates a significant healthcare network in Canada and Mexico, providing access to medical services through Walmart Canada locations.

Positive

• Appointment of Spence Walker as interim CFO, bringing expertise in growth-stage organizations.
• JNH continues to expand its healthcare network with 76 clinics in Canada and 115 in Mexico.

Negative

• Departure of CFO David Berman may create uncertainty during the transition period.
• -

TORONTO--(BUSINESS WIRE)-- Jack Nathan Medical Corp. (TSXV: JNH, OTCQB: JNHMF) (“Jack Nathan Health”, “JNH” or the “Company”) announces that David Berman stepped down from his position as Chief Financial Officer of the Company effective as September 19, 2022. “On behalf of myself and the board of directors, we want to thank David for his contributions to Jack Nathan Health. He has been a key contributor to our success to date, and we wish him the best in his future endeavors,” said Dr. Glenn Copeland, President and Chief Executive Officer of the Company.

The Company is also pleased to announce that it has appointed Spence Walker, respected expert and advisor to emerging-growth companies including reporting issuers, as the interim Chief Financial Officer of the Company, effective September 19, 2022. With Mr. Walker as part of the executive leadership team, the Company will benefit from his depth of knowledge and unique understanding of growth-stage organizations, where sound strategy and road-mapping for scale are signature to his advisory capacity, to bolster the business and meet growth targets for industry-leading success.

With a career serving companies across Canada and the United States, Mr. Walker has routinely serviced entities from startup through their growth phase, and further through to mergers and acquisitions, advising at every stage of business — from funding growth, to establishing corporate structure, to maximizing the use of research and development grants, tax credits and incentives. Add to this his financial- and risk-management lens, as a CPA and CA, with over 15 years of experience, that he extends to client work as Managing Director of Kreston GTA.

“Spence brings a rare mix of expertise to the Company, and it is with great pleasure that we welcome him as key member of our executive leadership team as we continue our path of growth and look to announcing a permanent Chief Financial Officer in due course," stated Dr. Glenn Copeland, President and Chief Executive Officer of the Company.

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 located inside Walmart Canada 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 Canada, the Company has 76 clinics in Walmart locations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec. In Mexico, the Company has approximately 115 corporate owned and operated clinics in Walmart locations. For more information, visit www.jacknathanhealth.com or www.sedar.com.

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.

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 COVID-19 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220920006241/en/

Jack Nathan Medical Corp., Mike Marchelletta -Director, info@jacknathanheath.com

Source: Jack Nathan Medical Corp.

FAQ

Who is the new interim CFO of Jack Nathan Medical Corp as of September 2022?

Spence Walker has been appointed as the interim CFO effective September 19, 2022.

What is the significance of Spence Walker's appointment for Jack Nathan Medical Corp?

Spence Walker's appointment is expected to bolster JNH's business strategy and growth targets.

How many clinics does Jack Nathan Medical Corp operate in Canada?

Jack Nathan Medical Corp operates 76 clinics in Walmart locations across Canada.

What is the stock symbol for Jack Nathan Medical Corp?

The stock symbol for Jack Nathan Medical Corp is JNHMF.

When did David Berman step down as CFO of Jack Nathan Medical Corp?

David Berman stepped down as CFO on September 19, 2022.