PharmaCorp Announces Agreement to Acquire a Pharmacy in Atlantic Canada

SASKATOON, Saskatchewan, Sept. 25, 2024 (GLOBE NEWSWIRE) -- PHARMACORP RX INC. (“PharmaCorp” or the “Corporation”) (TSXV: PCRX) is pleased to announce that, pursuant to share purchase agreements dated September 24, 2024, it has agreed to acquire from arm’s length vendors (the “Vendors”) 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 is $15,377,013, of which $15,177,013 will be paid using cash on hand and $200,000 will be paid with common shares of PharmaCorp (“Common Shares”). The deemed price for the Common Shares will not be lower than $0.60 per Common Share and is subject to a price adjustment mechanism determined at closing that may increase the deemed price per Common Share. The Acquisition is expected to close on or about October 1, 2024, subject to satisfaction of customary closing conditions, including the conditional acceptance of the TSX Venture Exchange. No finder’s fee is payable in respect of the Acquisition.

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