Proposed Disposition of Common Shares of Jack Nathan Medical Corp
October 14 2021 - 9:27AM
George Barakat announces that he has filed a Form 45-102F1 – Notice
of Intention to Distribute Securities under Section 2.8 of NI
45-102 Resale of Securities (the “Sales Notice”) in connection with
the proposed disposition of up to 8,000,000 common shares
(“Shares”) in the capital of Jack Nathan Medical Corp. (“JNMC”)
which is expected to be completed, if at all, through either or
both of private sales and sales on the facilities of a recognized
stock exchange or quotation system, including, but not limited to,
the TSX Venture Exchange, during the duration of the sales period
contemplated in the Sales Notice. There is no assurance as to the
timing of the transactions contemplated in the Sales Notice nor
whether any such transactions will occur.
As at the date of the Sales Notice described
herein, Mr. Barakat beneficially owned or exercised control or
direction over 21,352,180 Shares and options to acquire an
additional 700,000 Shares (the “Options”), representing
approximately 26.02% of the issued and outstanding Shares on a
non-diluted basis and representing approximately 26.87% of the
issued and outstanding Shares, assuming the full exercise of all of
the Options that Mr. Barakat beneficially owns or exercises control
or direction over, determined in each case with reference to JNMC’s
unaudited condensed consolidated interim financial statements for
the three and six months ended July 31, 2021 and 2020, dated
September 27, 2021. Mr. Barakat’s ownership of securities of JNMC
has not changed as compared to the foregoing as at the time of the
filing of this News Release.
Mr. Barakat will file one or more Early Warning
Reports on Form 62-103F1, and related press releases, in connection
with the completion of the transactions described herein in
accordance with applicable securities laws.
In addition to the transactions described herein
and disclosed in the Sales Notice, Mr. Barakat may increase or
decrease his investment, directly or indirectly, in securities of
JNMC from time to time, depending on market conditions or any other
relevant factors.
A copy of the report relating to this
acquisition may be found on JNMC’s profile at www.sedar.com.
Contact:George Barakatinfostockgb@gmail.com
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