Jack Nathan Health Announces Its Q2 Fiscal 2023 Financial Results

Jack Nathan Medical Corp. (TSXV: JNH, OTCQB: JNHMF) (“Jack Nathan Health”, “JNH” or the “Company”) announced today its unaudited interim consolidated annual financial results for the second quarter of fiscal 2023. Jack Nathan Health’s financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”).

Management Commentary

Commenting on the Company’s performance and outlook, Dr. Glenn Copeland, Chief Executive Officer, and Chief Medical Officer stated, “As we move through this fiscal year, we continued to make progress in not only growing our top line revenue, but in increasing EBITDA as well. Our overall decrease in Q2 losses from operations should continue for the rest of the fiscal year as we continue to decrease consulting and development costs while adding revenue to top line performance. Dr. Copeland continued, “This is an exciting time for Jack Nathan Health as we have set the foundation upon which we can rapidly scale our operations to support the business and meet growth targets for industry-leading success. We look forward to our grand opening of Hillside in Victoria, BC in November 2022 as the epicentre of Island healthcare servicing thousands of those in need medical care and ancillary services.

Spence Walker, CFO added: The Company is in the process of ramping up operations at its recently acquired clinics, while working with Walmart to continue development of new clinics. The recent loan agreement with Walmart will pave the way for accelerated growth and expansion across Canada.

Financial Highlights for the Six Months Ended July 31, 2022

Operating Results

			Six months ended July 31
			2022	2021
			$	$
Revenues			7,523,981	3,206,726
Total operating expenses			(10,100,259)	(6,675,720)
Income (loss) from operations