Business
Mednow Enters Into National Distribution and Preferred Pharmacy Network (PPN) Agreement With Care Pharmacies; Announces Grant of Management Cease Trade Order
Mednow Enters Into National Distribution and Preferred Pharmacy Network (PPN) Agreement With Care Pharmacies; Announces Grant of Management Cease Trade Order.
About this update from Mednow Inc.
[{"type":"text","content":"\nMednow Inc. (“Mednow” or the “Company”) (TSXV:MNOW) (OTCQX:MDNWF) Canada’s on-demand pharmacy, enhances its national virtual pharmacy offering by partnering with Care Pharmacies.\n\nMednow continues to build on its Mednow for Business offering by enhancing pharmacy distribution and pharmacist access via a differentiated preferred pharmacy network (“PPN”).\n\nIn addition to owned Mednow central-fill pharmacies, any pharmacies that are part of the Mednow PPN will enable Mednow to service more Canadians with localized pharmacy fulfillment. Mednow will collect fees for membership in the PPN, technology fees and other SAAS fees related to the virtual services provided by Mednow.\n\n“We’re thrilled to deepen our presence in Canada, partnering with Care Pharmacies, in line with our goal of being a truly national pharmacy with presence all across Canada to serve Mednow patients where they live and work,” said Ali Reyhany, Mednow CEO. “Expanding Mednow’s footprint ensures we are able to deliver on our core commitment to providing the highest level of care and attention to individual patients and other healthcare practitioners, all while driving sustainable business growth for Mednow.”\n\nBy Partnering with Mednow in this PPN, Care Pharmacies can benefit from net new business in the fast growing PPN space.\n\nMednow Announces Grant of Management Cease Trade Order\n\nMednow announces today that further to its news release dated December 15, 2022, the Company has been granted a Management Cease Trade Order (“MCTO”) under National Policy 12-203 – Management Cease Trade Orders (\"NP 12-203\") by the British Columbia Securities Commission.\n\nThe Company applied for the MCTO in connection with missing the filing deadline of December 30, 2022 for filing unaudited interim financial statements and accompanying management's discussion and analysis and related CEO and CFO certificates for the period ended October 31, 2022 (collectively, the \"Interim Filings\"), as required under applicable Canadian securities laws.\n\nThe Company applied for the MCTO as a result of ongoing complications in coordinating with the Company’s auditors and collection of required data and documentation to complete the review of the Company and its various subsidiaries,...