Jack Nathan Mexico Update
Aside from a profit sharing agreement which was entered into with Wal-Mart Canada Corp. effective December 1, 2024, JNH Mexico has been unable to ratify terms for continuity of business with Walmart Mexico, and the Company has notified Walmart Mexico to consider evaluating all strategic options, including: (a) consenting to permit JNH to sell its
Alternatively, the Company is exploring strategic options for continuity of operations with other retail and corporate partners, should no progress be made on the above offers suggested to Walmart Mexico.
No assurances can be provided that any of these efforts will be successful. In the absence of being able to ratify an agreement or explore strategic options, the Company is potentially facing a wind down scenario of its
As part of this initiative, a comprehensive data room will be available post-qualification to interested parties. The comprehensive data room, available after qualification, will provide detailed insights and opportunities for potential partners and other interested parties. The Company invites interested parties to explore the wealth of information and possibilities that Jack Nathan Mexico® has to offer.
If an agreement for a transaction is signed, further details will be provided by the Company at that time.
About Jack Nathan Medical Corp.
Jack Nathan Health®, a pioneer in the healthcare industry, became one of
Established in 2006, Jack Nathan Health® continues to grow its international footprint, delivering state-of-the-art, turn-key medical centers. Currently, the Company operates 175 locations globally, all corporately owned and operated.
In
For more information, visit www.jnhmexico.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. 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/20250319949931/en/
Jack Nathan Medical Corp., Mike Marchelletta, Chief Executive Officer; phone: (416) 518-1000.
Source: Jack Nathan Medical Corp.