logo
Jack Nathan Health Provides Update on Filing of FY 2024–25 Financial Statements and Audit Progress

Jack Nathan Health Provides Update on Filing of FY 2024–25 Financial Statements and Audit Progress

Business Wirea day ago

TORONTO--(BUSINESS WIRE)-- Jack Nathan Medical Corp. (TSXV: "JNH"; OTCQB: "JNHMF"), ("Jack Nathan Health", "JNH" or the "Company") announces that it was unable to file its audited consolidated financial statements, management's discussion and analysis (MD&A), and related CEO and CFO certifications for the fiscal year ended January 31, 2025 (collectively, the 'Annual Filings') by the required deadline of May 31, 2025.
The delay was primarily due to the complexity surrounding the Asset Purchase Agreement (APA) completed on December 1, 2024, under which the Company transferred its Canadian medical clinic business and operations to Well Health Technologies Corp. As part of this transaction, access to EMR systems, supporting documents, and clinical records was also transferred, and this has resulted in extended timelines for data retrieval and audit testing.
In addition to the operational handover:
The Company underwent a change in external auditors during the fiscal year.
A significant number of JNH's employees, including finance and administrative staff, transitioned to Well Health.
A resulting delay in commencing the audit, which only began in late February 2025
Despite the late start, Jack Nathan Health made every effort to complete the audit by the filing deadline. Based on that intent, the Company did not apply for a Management Cease Trade Order (MCTO) in advance. However, given the ongoing audit, the Company was unable to meet the statutory filing deadline. As a result, the Ontario Securities Commission issued a Failure-to-File Cease Trade Order ('CTO') against the Company on June 6, 2025, under applicable securities legislation. The CTO prohibits trading in the Company's securities in all Canadian jurisdictions where reciprocal orders apply, until the required filings are completed and the order is revoked. The Company continues to work closely with its auditors to finalize the audit and expects to file well within the 90-day period required for automatic revocation of the CTO.
'This past year marked a major transformation for Jack Nathan Health. The transition of our Canadian medical business to Well Health involved an extensive operational and systems handover,' said Mike Marchelletta, CEO of Jack Nathan Health. 'We recognize the delay in our reporting obligations and remain fully committed to transparency. Our team is working diligently to finalize the audit, and we anticipate filing as soon as possible.'
About Jack Nathan Medical Corp.
Jack Nathan Health ® is a provider of MedSpa services in Canada and a former operator of one of the largest retail medical clinic networks in North America. Established in 2006 the Company expanded its international footprint, delivering exceptional, state-of-the-art, turn-key medical centers in 253 locations globally, with 193 corporately owned and operated. In Canada, the Company grew to 82 locations, including 80 clinics in Walmart locations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec and 2 independent locations, with 22 corporate owned and operated clinics of which 3 included Rehab services and 6 included MedSpa services. In Mexico, the Company grew to 171 corporate owned clinics across Mexico within 3 divisions, including 165 retail clinics, 5 clinics inside Walmart Distribution Centers servicing Walmart Associates, and 1 multidisciplinary clinic. In December 2024, Jack Nathan Health restructured its Canadian medical operations through an asset sale to Well Health Technologies Corp. Following the exit from its Walmart Mexico operations in May 2025, the Company continues to operate its Canadian MedSpa clinics and is actively evaluating strategic opportunities for its future business in Canada, Mexico & USA.
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.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

LEADING EDGE MATERIALS ANNOUNCES UP TO $4,000,000 NON-BROKERED PRIVATE PLACEMENT
LEADING EDGE MATERIALS ANNOUNCES UP TO $4,000,000 NON-BROKERED PRIVATE PLACEMENT

Yahoo

time43 minutes ago

  • Yahoo

LEADING EDGE MATERIALS ANNOUNCES UP TO $4,000,000 NON-BROKERED PRIVATE PLACEMENT

LEADING EDGE MATERIALS ANNOUNCES UP TO C$4,000,000 NON-BROKERED PRIVATE PLACEMENT NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER, OR A SOLICITATION OF ANY OFFER, TO BUY OR SUBSCRIBE FOR ANY SECURITIES IN LEADING EDGE MATERIALS IN ANY JURISDICTION. Vancouver, June 10, 2025 – Leading Edge Materials Corp. ('Leading Edge Materials' or the 'Company') (TSXV: LEM) (Nasdaq First North: LEMSE) (OTCQB: LEMIF) announces the intent to complete a non-brokered private placement of up to 25,000,000 units ('Units') at a price of C$0.16 per Unit for aggregate gross proceeds of up to C$4,000,000 (the 'Private Placement'). Leading Edge Materials intends to use net proceeds for the Company's projects, located in Sweden and Romania and for general working capital and corporate purposes. Each Unit will consist of one (1) common share (each, a 'Common Share') in the capital of the Company and one (1) Common Share purchase warrant (a 'Warrant'). Each Warrant will entitle the holder to purchase one Common Share (a 'Warrant Share') at a price of C$0.32 per Warrant Share until the date which is four (4) years from the closing date of the Private Placement (the 'Closing Date'). The Company expects certain insiders of the Company to participate in the Private Placement. Any participation by insiders in the Private Placement constitutes a 'related party transaction' as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ('MI 61-101'). However, the Company expects to rely on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 based on the fact that neither the fair market value of the Units subscribed for by the insiders, nor the consideration for the Units paid by such insiders, would exceed 25% of the Company's market capitalization as at the date of this news release. The Private Placement is directed towards Canadian, Nordic and other international investors. All securities issued under the Private Placement, including securities issuable on exercise of the Warrants, will be delivered from Canada and are subject to a hold period expiring four months and one day from the Closing Date. The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. A finders' fees may be payable on a portion of the Private Placement. The securities have not been, and will not be, registered under the U.S. Securities Act, or any U.S. state securities laws, and may not be offered or sold in the U.S. or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. This news release is not a prospectus under Regulation (EU) 2017/1129 (the 'EU Prospectus Regulation'). The Company has not authorized any offer of securities to the public (as defined in the EU Prospectus Regulation) in any EEA member state and no such prospectus has been or will be prepared in connection with the Private Placement. On behalf of the Board of Directors, Leading Edge Materials Corp. Kurt Budge, CEO For further information, please contact the Company at:info@ Follow usTwitter: About Leading Edge Materials Leading Edge Materials is a Canadian public company focused on developing a portfolio of critical raw material projects located in the European Union. Critical raw materials are determined as such by the European Union based on their economic importance and supply risk. They are directly linked to high growth technologies such as batteries for electromobility and energy storage and permanent magnets for electric motors and wind power that underpin the clean energy transition towards climate neutrality. The portfolio of projects includes the 100% owned Woxna Graphite mine (Sweden), 100% owned Norra Karr Heavy Rare Earth Elements project (Sweden) and the 51% owned Bihor Sud Nickel Cobalt exploration alliance (Romania). Additional Information This information is information that Leading Edge Materials Corp. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, at June 10, 2025 at 23:30 PM Vancouver time. Leading Edge Materials is listed on the TSXV under the symbol 'LEM', OTCQB under the symbol 'LEMIF' and Nasdaq First North Stockholm under the symbol 'LEMSE'. Mangold Fondkommission AB is the Company's Certified Adviser on Nasdaq First North and may be contacted via email CA@ or by phone +46 (0) 8 5030 1550. Reader Advisory This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Leading Edge Materials in any jurisdiction. This news release may include forward-looking information that is subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking, including statements with respect to the closing of the Private Placement, the receipt of regulatory approvals, and the use of proceeds from the Private Placement. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information is not a guarantee of future performance and actual results or developments may differ materially from those contained in forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking information include, but are not limited to, fluctuations in market prices, successes of the operations of the Company, the Company's ability to close the Private Placement, the Company's ability to obtain the required regulatory approvals, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Important information for EEA Investors The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Leading Edge Materials in any jurisdiction. Any investment decision in connection with the Private Placement must be made on the basis of all publicly available information relating to the Company and the Company's shares/Units. The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. This announcement does not purport to identify or suggest the risks (direct or indirect) which may be associated with an investment in the Company or the new shares/Units. This press release is not a prospectus for the purposes of the EU Prospectus Regulation. Leading Edge Materials has not authorized any offer to the public of Units, shares or rights in any member state of the EEA and no prospectus has been or will be prepared in connection with the Private Placement. In the United Kingdom, this document and any other materials in relation to the securities described herein is only being distributed to, and is only directed at, and any investment or investment activity to which this document relates is available only to, and will be engaged in only with, 'qualified investors' who are (i) persons having professional experience in matters relating to investments who fall within the definition of 'investment professionals' in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order'); or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as 'relevant persons'). In the United Kingdom, any investment or investment activity to which this communication relates is available only to, and will be engaged in only with, relevant persons. Persons who are not relevant persons should not take any action on the basis of this document and should not act or rely on it. Attachment LEMNR

Former MuchMusic VJ Juliette Powell, 54, died 'unexpectedly': What to know about bacterial meningitis
Former MuchMusic VJ Juliette Powell, 54, died 'unexpectedly': What to know about bacterial meningitis

Yahoo

timean hour ago

  • Yahoo

Former MuchMusic VJ Juliette Powell, 54, died 'unexpectedly': What to know about bacterial meningitis

Juliette Powell, a former MuchMusic VJ and author, has died. The 54-year-old, who appeared on Canadian television in the '90s as a host of Electric Circus and French Kiss died on June 3 after a brief illness. According to her obituary, Powell, who was born in the U.S. but raised in Montréal, "succumbed unexpectedly" due to acute bacterial meningitis. "Juliette had a magical way of drawing people in with her infectious enthusiasm, and her brilliant intelligence and gorgeous smile lit up every room she ever entered," reads her obituary. "Her loss is devastating and she will be deeply, painfully missed by so many." This article is for informational purposes only and is not a substitute for professional medical advice, diagnosis or treatment. Contact a qualified medical professional before engaging in any physical activity, or making any changes to your diet, medication or lifestyle. In 1989, Powell became the first Black woman to be crowned Miss Canada. She joined MusiquePlus as a VJ in 1992 before going on to join MuchMusic in 1996. Eventually, she transitioned out of music and became a business reporter for CablePulse24. Following her career in television, she authored several books including The AI Dilemma: 7 Principles for Responsible Technology in 2023. So, what is bacterial meningitis and what are the signs and symptoms? Read on to learn everything you need to know about the condition. Meningitis is the inflammation of the lining around the brain and spinal cord membranes, typically caused by an infection, bacteria or sometimes fungi. According to Meningitis Foundation Canada, untreated bacterial meningitis is a "medical emergency" and can be "fatal in a few hours." Those who do recover can have permanent disabilities, such as brain damage, hearing loss and learning disabilities. The condition usually spreads through close contact to bacteria or virus, such as cold or flu germs. As such, sneezing, coughing, kissing and close physical contact can cause the germs to spread. Because it is difficult to stop the transmission of bacteria, prevention is essential. Bacterial meningitis is diagnosed by a medical professional after analyzing a sample of spinal fluid from the patient. This condition can often be mistaken for another life-threatening illness, sepsis, which is the body's extreme response to infection. Sepsis happens when an infection triggers a chain reaction throughout your body. Without timely treatment, sepsis can quickly lead to tissue damage, organ failure and death. That the timing of bacterial meningitis symptoms can vary widely. Some people can get sick within a few hours of contracting the condition, while it may take others one to three days to show symptoms. Typically, early symptoms, occurring within the first six hours, include fever, headache, irritability, nausea and vomiting. Later symptoms occurring within six to 12 hours involve fever, muscle aches, leg pain and pale skin. After 12 hours, symptoms usually include cold hands and feet, stiff neck or neck pain, rash, confusion or delirium and decreasing responsiveness. If you or someone you know is experiencing any of the above symptoms, seek medical attention immediately. Certain risk factors can increase a person's risk for getting bacterial meningitis. The risk factors include: Age: Babies or young children are more likely to contract bacterial meningitis due to their weakened immune systems. That said, people of any age can develop the condition. Group settings: Meningitis tends to spread where large groups of people gather or live in close quarters, such as college dorms or music festivals. Certain medical conditions: Some medical conditions, medications or surgical procedures put people at increased risk for contracting bacterial meningitis. For example, having an HIV infection or not having a spleen can increase a person's risk for the condition. There are many ways to help prevent bacterial meningitis. Firstly, different vaccines can help protect against certain types of bacterial meningitis. There are vaccines for four types of bacteria that can cause the condition. Additionally, maintaining good health, washing your hands often, staying home when you're sick and having a strong immune system can protect us from most causes. Oftentimes we carry meningitis germs with no ill effects. However, if your immune system is compromised due to cancer treatments, HIV, organ transplants, infection or other serious health issues, speak with your doctor about how to help protect against meningitis. Lastly, seeking medical attention as soon as symptoms appear is essential. Moreover, as the condition is contagious, if you've been around someone who has it, call your healthcare provider to discuss how to keep from getting sick.

All Seas Capital Exits G3
All Seas Capital Exits G3

Yahoo

timean hour ago

  • Yahoo

All Seas Capital Exits G3

Realisation follows significant growth with headcount doubling and international expansion LONDON, June 11, 2025--(BUSINESS WIRE)--All Seas Capital, a pan-European private capital fund that provides transformational capital solutions to leading founder- and entrepreneur-owned companies, is pleased to announce the full realisation of its investment in G3 ("G3" or "the Company"), a global strategic advisory consultancy. As part of the transaction, Oakley Capital Fund VI has acquired a majority stake in the Company. G3 helps clients manage their risk and enable opportunities by providing reputational and strategic intelligence, dispute advice and cyber consulting. The company's clients include some of the largest private equity and sovereign wealth funds, global corporates and leading law firms. Since investing in G3 in 2022, All Seas Capital has partnered closely with the management team to accelerate its expansion strategies. G3 has grown significantly, with headcount more than doubling and global business development capabilities strengthened, with the opening of new offices in New York, Singapore, Tokyo, and Abu Dhabi. All Seas Capital provides flexible long-term capital solutions to leading Western European mid-market businesses. Alongside transformational capital, the firm provides board-level expertise to entrepreneurs and management teams who do not want to sell majority stakes. All Seas Capital is led by Marc Ciancimino and Cristobal Cuart, who co-founded and led KKR's European mezzanine and preferred equity business and have an extensive track record, with €3.4bn invested across 45 businesses prior to founding All Seas Capital. Marc Ciancimino and Cristobal Cuart, Co-Founders and Managing Partners of All Seas Capital, commented: "Since partnering with G3 three years ago, we have worked hard to support its highly capable management team to accelerate its expansion strategies and develop the business. It has achieved great success, capitalising on the significant growth in demand for strategic risk advisory services. At All Seas Capital, we provide flexible, hybrid non-control capital to established founder- and entrepreneur-owned businesses that have already reached scale and can benefit from our support and capital. G3 is a great example of how our approach can support that journey, and we wish the team every success with their new partners at Oakley Capital." All Seas Capital was advised by King & Spalding. G3 was advised by Jefferies, White & Case. LEK and KPMG. About All Seas Capital All Seas Capital is a pan-European private capital firm. We partner with mid-market businesses, constructing flexible, structured capital solutions - investing a combination of debt and equity - to empower transformational growth. The team is led by Marc Ciancimino and Cristobal Cuart who co-founded and led KKR's European mezzanine and preferred equity business. We back growing businesses with strong management teams and help them accelerate their growth plans, supporting entrepreneur and family-owned businesses who have already reached profitability but need strategic capital to realise their ambitions. These businesses have underlying resilience, typically generating EBITDA of €5-50m, with our investment ranging from €30-100m. About G3 G3 is a global advisory firm that helps clients manage risk and make better business decisions. We provide intelligence that enables our clients to make informed decisions on deals, partnerships, new markets, and regulatory and political environments. We offer investigations and dispute advice to support legal strategies and recover assets. We deliver cyber-security advice to defend against today's prevailing threat environment. Our clients include FTSE and Fortune 500 corporations, sovereign wealth and pension funds, private equity firms, and leading international law firms. Founded over twenty years ago, G3 has an established global platform and operates in most geographies worldwide. Our multidisciplinary team is drawn from government, finance, law, consultancy, and law enforcement. We are headquartered in London, with offices in the US, the Middle East, and Asia. View source version on Contacts For further information, please contact: All Seas CapitalCharlotte Balbirnie+44 7989 528421CBalbirnie@

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store