Jack Nathan Health Closes Sale of Canadian Business and Positions for Global Growth

TORONTO -- Jack Nathan Medical Corp. (TSXV: “JNH”; OTCQB: “JNHMF”) (the “Company”) is pleased to announce, further to the Company’s November 4, 2024 press release, the successful completion of the sale (the “Asset Sale” or the “Transaction”) of its Canadian business, assets and operations (the “JNH Canadian Business”) to WELL Health Technologies Corp. (“WELL”) as part of its strategic repositioning, other than certain Canadian operations which are being transitioned in connection with the Transaction. The purchase price (the “Purchase Price”) for the JNH Canadian Business was Cdn$5,000,000. Also, in connection with the Transaction, all debt owing by the Company to Wal-Mart Canada Corp. (totaling more than Cdn$15,000,000) has been extinguished. Shareholders of the Company approved the Asset Sale at the special meeting of shareholders held on November 29, 2024. The Company continues to own and operate its Mexican business and operations, including the 155 corporate owned and operated clinics in Walmart locations in Mexico, five Mexican clinics inside Walmart distribution centers servicing Walmart Associates, and one multidisciplinary Mexican clinic. Read More