Eight pharmacies acquired at an aggregate purchase price of approximately $24.2 million
The acquisitions increase PharmaCorp's store count to 14 locations, more than doubling its operating footprint
SASKATOON, Saskatchewan, July 06, 2026 (GLOBE NEWSWIRE) -- PHARMACORP RX INC. ("PharmaCorp" or the "Corporation") (TSXV: PCRX), a Canadian pharmacy acquisition and ownership platform, is pleased to announce that, further to its April 30, 2026 news release, it has completed the acquisition of all of the shares of eight PharmaChoice Canada-bannered pharmacies located in Eastern Canada (the "Acquisitions") from two arm's length vendor groups.
The Acquisitions significantly expand PharmaCorp's presence in Eastern Canada and increase the Corporation's operating footprint to 14 pharmacies across Canada, up from six. Together with two previously announced acquisitions (the "Previously Announced Acquisitions") under definitive share purchase agreements, one located in Ontario and one in Western Canada, which are expected to close in late July 2026, the Corporation's store count would increase to 16 pharmacies.
PharmaCorp funded the purchase price for the Acquisitions using existing cash resources and credit facilities. Six of the eight locations are situated within a 15-kilometre radius of a primary urban centre, supporting increased market density, operational efficiencies, and procurement leverage. The remaining two locations serve rural communities, further diversifying the Corporation's regional footprint.
"This acquisition represents a meaningful advancement in PharmaCorp's development of a national network of community pharmacies," said Alan Simpson, Executive Chairman of PharmaCorp. "It reflects execution at a larger scale while remaining within the valuation discipline, transaction structure and operating parameters that underpin our acquisition platform."
All locations will continue to be operated by their existing managing pharmacists, ensuring continuity of care, preserving patient relationships, and supporting a seamless transition and integration into the PharmaCorp platform.
Acquisition Pipeline Update
In addition to the closing of the Acquisitions, the Corporation is pleased to announce that it has entered into two non-binding letters of intent (collectively, the "LOIs") with arm's length vendors in respect of two additional acquisitions located in Western Canada (collectively, the "Proposed LOI Acquisitions"). The first Proposed LOI Acquisition is pursuant to an LOI dated June 23, 2026 to acquire all of the issued and outstanding shares of an entity that owns and operates a Remedy'sRx-bannered pharmacy in Western Canada. PharmaCorp intends to continue operating the pharmacy at its existing location and existing Remedy'sRx banner. The second is an asset purchase transaction pursuant an LOI dated June 29, 2026 to acquire the prescription files, patient records and related operational data of an I.D.A.-bannered pharmacy located near an existing PharmaCorp PharmaChoice Canada-bannered pharmacy in Western Canada, with the files expected to be transferred to and serviced by PharmaCorp's nearby pharmacy.