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Shell Summary for July 29, 2020

2020-07-29 21:26 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 3.35 points to 711.14 Wednesday. John MacPhail's first capital pool shell, Woodbridge Ventures Inc. (WOOD: halted), has provided additional information on its qualifying transaction. It is acquiring Jack Nathan Medical Inc., the operator of 73 walk-in clinics, each inside a Walmart store in Canada. Among the new details are partial financials for Jack Nathan and the names of the director nominees for the resulting issuer.

Jack Nathan was founded in 2006 near Mississauga. It operates 66 medical clinics and seven dental clinics, with the medical clinics offering services such as checkups and immunizations. Last year, one of the medical clinics began offering cannabis treatments for chronic pain. In the fiscal year ended Jan. 31, 2020, the company generated revenue of $3.61-million. It does not yet provide a profit or loss figure (which means it was probably a loss). At the end of the fiscal year, it had a working capital deficit of $1.79-million.

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