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SASKATOON, SK, July 14, 2026 /CNW/ - PharmaCorp Rx Inc. ("PharmaCorp" or the "Company") (TSXV: PCRX) is pleased to announce that it has closed its previously announced bought deal public offering co-led by Acumen Capital Finance Partners Limited and Canaccord Genuity Corp., and including Raymond James Ltd. (collectively, the "Underwriters") pursuant to which the Underwriters purchased, on a bought deal basis, 22,549,200 units (the "Units") in the capital of the Company at a price of C$0.51 per Unit (the "Offering Price") for aggregate gross proceeds to the Company of approximately C$11.5 million, which includes the full exercise of the Underwriters over-allotment option (the "Offering").
Each Unit consisted of one common share (a "Common Share") in the capital of the Company and one-half (1/2) of one Common Share purchase warrant (each whole warrant, a "Warrant") of the Company. Each whole Warrant entitles the holder thereof to acquire one Common Share at an exercise price per Common Share of C$0.60 until July 14, 2028.
The net proceeds from the Offering will be used for future acquisition opportunities and general working capital requirements.
Directors and officers of the Company participated in the Offering with the purchase of an aggregate of 980,000 Units. These purchases are considered a "related party transaction" for the purposes of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") (collectively, the "Related Party Policies"). The Company has determined that exemptions from the various requirements of the Related Party Policies are available in connection with the Offering pursuant to Section 5.5(b) (Issuer Not Listed on Specified Markets) and Section 5.7(a) (Fair Market Value Not More Than 25% of Market Capitalization) of MI 61-101, respectively. No new insiders were created, nor has any change of control occurred, as a result of the Offering.
In consideration for the services provided by the Underwriters in connection with the Offering, the Company paid the Underwriters a cash commission equal to 6.0% of the gross proceeds of the Offering (other than from the sale of Units to certain insiders of the Company and of PharmaChoice Canada Inc., for which no commission was paid), for an aggregate of $660,017. In addition, the Company issued to the Underwriters an aggregate of 647,076 broker warrants exercisable into Units, with each broker warrant exercisable for a period of 18 months following the Closing Date, at an exercise price of $0.51 per Unit.