PHARMACORP RX INC. (“PharmaCorp” or the “Corporation”) (TSXV: PCRX) is pleased to announce that, further to its news release dated September 25, 2024, it has completed the acquisition of a 100% interest in a pharmacy business including land and buildings (the “Acquired Pharmacy”) located in Atlantic Canada (the “Acquisition”). The aggregate purchase price for the Acquired Pharmacy was $15,377,013, of which $15,177,013 was paid using cash on hand and $200,000 was paid by issuing common shares of PharmaCorp (“Common Shares”). The deemed price for the Common Shares was $0.6616 pursuant to the price adjustment mechanism included in the applicable share purchase agreement.
The Acquired Pharmacy represents PharmaCorp’s third acquisition including the successful completion of its June 6, 2024 Qualifying Transaction which included the PharmaChoice Canada Inc. (“PharmaChoice Canada”) strategic alliance and the acquisition of a 75% interest in a pharmacy in Saskatoon, Saskatchewan.
“We are appreciative of the efforts of everyone involved and glad to have successfully completed this
Acquisition as planned,” stated Al Simpson, Executive Chairperson, PharmaCorp.
About PharmaCorp Rx Inc.
As a Capital Pool Company, PharmaCorp completed its qualifying transaction as defined in Policy 2.4 of
the TSX Venture Exchange on June 6, 2024. The qualifying transaction consisted of its strategic alliance
with PharmaChoice Canada and the acquisition of 75% of the outstanding shares of a pharmacy in
Saskatoon, SK. PharmaCorp operates three pharmacies, including the Acquired Pharmacy. PharmaCorp
will continue to acquire independently owned and branded PharmaChoice Canada pharmacies as they
come to market in the normal course of business, as well as other independently owned non-
PharmaChoice Canada branded pharmacies in Canada, and thereafter, continue to operate such acquired pharmacies under a PharmaChoice Canada banner. PharmaCorp trades on the TSX Venture Exchange under the symbol: PCRX.
For further information, contact:
Mr. Alan Simpson
Suite #203, 303 Wellman Lane, Saskatoon, SK S7T 0J1
Tel: (306) 536-3771
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This news release contains “forward-looking information” regarding
the Corporation within the meaning of applicable Canadian securities legislation. All statements,
other than statements of historical fact, included herein are forward-looking information. In
particular, this news release contains forward-looking information in relation to the business of
PharmaCorp, including the operation and acquisition of pharmacies, including the acquisition of
independently owned PharmaChoice Canada branded, and non-PharmaChoice Canada branded,
pharmacies. This forward-looking information reflects current beliefs and is based on information
currently available to the management of the Corporation and on assumptions the Corporation
believes are reasonable. These assumptions include, but are not limited to the continued supply of
pharmacies for purchase by PharmaCorp at prices satisfactory to PharmaCorp. Forward-looking
information is subject to known and unknown risks, uncertainties and other factors that may cause
the actual results, level of activity, performance or achievements of the Corporation to be materially
different from those expressed or implied by such forward-looking information. Such risks and other
factors may include, but are not limited to: general business, economic, competitive, political and
social uncertainties; general capital market conditions and market prices for securities; delay or
failure to receive board of directors, third party or regulatory approvals; competition; changes in
legislation, including environmental legislation, affecting the Corporation; the timing and availability
of external financing on acceptable terms; conclusions of economic evaluations and appraisals; and
lack of qualified, skilled labour or loss of key individuals. A description of additional risk factors that
may cause actual results to differ materially from forward-looking information can be found in the
Corporation’s disclosure documents on the SEDAR+ website at www.sedarplus.ca. Although the
Corporation has attempted to identify important risks and factors that could cause actual results to
differ materially from those contained in forward-looking information, there may be other factors
that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the
foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance
on forward-looking information as there can be no assurance that the plans, intentions or
expectations upon which they are placed will occur. Forward-looking information contained in this
news release is expressly qualified by this cautionary statement. The forward-looking information
contained in this news release represents the expectations of the Corporation as of the date of this
news release and, accordingly, is subject to change after such date. However, the Corporation
expressly disclaims any intention or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise, except as expressly required by
applicable securities law.