PharmaCorp Closes Acquisitions of Three Pharmacies Across Canada

Core Insights - PharmaCorp RX Inc. has completed the acquisition of three community pharmacy businesses, enhancing its presence in both Western and Eastern Canada [1][4] Western Canada Acquisitions - The company acquired two PharmaChoice Canada bannered pharmacies in Western Canada for an aggregate purchase price of $3,400,000, with 75% paid in cash and 25% through the issuance of common shares [2] - The common shares were priced based on the volume weighted average trading price on the TSX Venture Exchange over a specified period prior to the closing date [2] Eastern Canada Acquisition - PharmaCorp also acquired a PharmaChoice Canada bannered pharmacy in Eastern Canada for $5,300,000, funded through cash on hand and available credit [3] - No finder's fees were incurred in connection with these acquisitions [3] Strategic Growth - The acquisitions are part of PharmaCorp's disciplined growth strategy and strengthen its strategic alliance with PharmaChoice Canada [4] - The company aims to expand its national footprint while preserving independent legacies and ensuring continuity of care for patients [4] - PharmaCorp plans to remain active in pursuing further acquisitions in the near future [4] Company Overview - PharmaCorp currently operates seven PharmaChoice Canada bannered pharmacies and intends to continue acquiring both PharmaChoice and independently owned pharmacies [5] - The company is open to discussions with pharmacy owners considering succession or sale, emphasizing a commitment to seamless transitions [6]