/NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES
NEWSWIRE SERVICES/
GEORGETOWN, ON, Aug. 18,
2023 /CNW/ - This press release is being disseminated
as required by National Instrument 62–103 - The Early Warning
System and Related Take Over Bids and Insider Reporting Issues
in connection with the filing of an early warning report by
George Barakat in respect of the
disposition of common shares (each, a "Common Share") in the
capital of Jack Nathan Medical Corp. (the "Issuer") (TSXV:
JNH.V).
George Barakat announces that,
during the period between November 3,
2022 and August 17, 2023, he,
directly or indirectly, sold an aggregate of 1,550,000 Common
Shares beneficially owned by him, or over which he had control or
direction, over the facilities of the TSX Venture Exchange at an
average price per Common Share of approximately $0.0908, for total consideration of approximately
$140,757.
Following the sales referred to above, Mr. Barakat beneficially
owns or, through GKAT Inc., exercises control or direction over,
13,413,180 Common Shares and options to acquire an additional
700,000 Common Shares (the "Options"), representing
approximately 15.97% of the issued and outstanding Common Shares on
a non-diluted basis and representing approximately 16.66% of the
issued and outstanding Common Shares, assuming the full exercise of
all of the Options that Mr. Barakat beneficially owns or exercises
control or direction over.
Immediately prior to the completion of the sales referred to
above, Mr. Barakat beneficially Owned, or exercised control or
direction over, 11,863,180 Common Shares and 700,000 Options,
representing approximately 13.88% of the issued and outstanding
Common Shares on a non-diluted basis and representing approximately
14.58% of the issued and outstanding Common Shares, assuming the
full exercise of all of the Options that Mr. Barakat beneficially
owns or exercises control or direction over.
As previously announced on June 30,
2022, Mr. Barakat intends to, from time to time, dispose of
Common Shares beneficially owned by him, or over which he has
control or direction, including the Common Shares held by GKAT
Inc., in order to meet his liquidity needs from time to time.
A copy of the report relating to the foregoing sales may be
found on the Issuer's profile at www.sedarplus.ca and can be
obtained by contacting the contact set out below.
SOURCE George Barakat
