PharmaCorp Closes Two Previously Announced Acquisitions and Provides Acquisition Pipeline Update

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Postmedia has not reviewed the content. by GlobeNewswire PharmaCorp Closes Two Previously Announced Acquisitions and Provides Acquisition Pipeline UpdateAuthor of the article:Acquisition of a PharmaChoice Canada-bannered pharmacy in Western Canada completed at a purchase price of $1,300,000, subject to customary post-closing adjustmentsThe acquisition increases PharmaCorp’s operating network to 17 pharmaciesPreviously announced purchase of the prescription files of an I.D.A.-bannered pharmacy in Western Canada completed at a purchase price of $475,000, subject to customary post-closing adjustmentsCanadian Imperial Bank of Commerce acquisition facility increased by $10 million, from $17.5 million to $27.5 million, providing additional capacity to fund acquisitionsNon-binding letter of intent executed for the proposed acquisition of three PharmaChoice Canada-bannered pharmacies in Atlantic CanadaTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThis advertisement has not loaded yet, but your article continues below.SASKATOON, Saskatchewan, Oct. 01, 2026 (GLOBE NEWSWIRE) — PHARMACORP RX INC. (“PharmaCorp” or the “Corporation”) (TSXV: PCRX), a Canadian pharmacy acquisition and ownership platform, announced today that, further to its August 18, 2026, news release, it has completed the acquisition of a 100 per cent interest in a PharmaChoice Canada-bannered pharmacy located in Western Canada (the “Pharmacy Acquisition”), pursuant to the previously disclosed share purchase agreement dated August 10, 2026.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe Pharmacy Acquisition increases PharmaCorp’s overall store count to 17 pharmacies.The aggregate purchase price for the Pharmacy Acquisition was $1,300,000, subject to customary post-closing adjustments, and was funded using the Corporation’s existing cash resources. The pharmacy was acquired from an arm’s length vendor group, and no finder’s fees were payable in connection with the Pharmacy Acquisition. The pharmacy will continue to be operated by its existing managing pharmacist during the transition period, supporting continuity and integration into the PharmaCorp platform.This advertisement has not loaded yet, but your article continues below.The Corporation also announced that, further to the same August 18, 2026, news release, on September 11, 2026 it completed the acquisition of the prescription files, patient records and related operational data of an I.D.A.-bannered pharmacy located in Western Canada (the “File Acquisition”, and together with the Pharmacy Acquisition, the “Acquisitions”), pursuant to the previously disclosed asset purchase agreement dated August 7, 2026. The aggregate purchase price for the File Acquisition was $475,000, subject to customary post-closing adjustments, and was funded using the Corporation’s existing cash resources. The acquired files have been transferred to an existing PharmaCorp PharmaChoice Canada-bannered pharmacy located nearby and are being serviced from that location, consolidating patient volume into a pharmacy the Corporation already operates. The File Acquisition was an asset purchase and did not add a location to the Corporation’s operating network. The files were acquired from an arm’s length vendor, and no finder’s fees were payable in connection with the File Acquisition.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.“We like opportunities to add prescription volume and cash flow to an existing pharmacy without the capital expense of adding another storefront,” said Alan Simpson, Executive Chairman of PharmaCorp. “We’ll continue to focus on our pharmacy acquisition strategy while also monitoring and evaluating prescription tuck-in opportunities when they arise. The expansion of our acquisition facility with CIBC from $17.5 million to $27.5 million provides additional capacity to fund future acquisitions.”The Corporation also announced that, further to its news release dated August 13, 2025, it has exercised the previously announced $10,000,000 accordion feature under its acquisition term facility with Canadian Imperial Bank of Commerce (“CIBC”). Pursuant to an amendment dated September 30, 2026 to the credit agreement between the Corporation and CIBC dated August 12, 2025, the credit limit of the acquisition term facility has been increased from $17,500,000 to $27,500,000. Amounts available under the facility may be used to finance acquisitions of pharmacy businesses, including the assets or shares of a pharmacy business, and acquisitions of real property in Canada for the purpose of operating a pharmacy business, on the terms and conditions set out in the credit agreement.This advertisement has not loaded yet, but your article continues below.Acquisition Pipeline UpdateThe table below sets out the status of each non-binding letter of intent previously disclosed by the Corporation and not reported as completed before the date of this news release, together with the further letter of intent described below.LOI dateOpportunityDefinitive agreementStatusFebruary 27, 2026, replaced by letter of intent dated June 19, 2026PharmaChoice Canada-bannered pharmacy, Western Canada (share purchase)Share purchase agreement dated August 10, 2026Completed October 1, 2026; store count increased to 17March 23, 2026Pharmacy, Western CanadaNot executedNo longer being pursuedJune 23, 2026Remedy’sRx-bannered pharmacy, Western Canada (share purchase)Not executedNo longer being pursuedJune 29, 2026I.D.A.-bannered pharmacy prescription files, Western Canada (asset purchase)Asset purchase agreement dated August 7, 2026Completed September 11, 2026; no additional locationJuly 23, 2026PharmaChoice Canada-bannered pharmacy, Western Canada (share purchase)PendingDue diligence and documentation in progressSeptember 11, 2026Three PharmaChoice Canada-bannered pharmacies, Atlantic Canada (share purchase)PendingDue diligence and documentation in progressThis advertisement has not loaded yet, but your article continues below.The Corporation has executed a non-binding letter of intent dated September 11, 2026 for the proposed acquisition of three PharmaChoice Canada-bannered pharmacies located in Atlantic Canada.The Corporation is no longer pursuing the proposed acquisitions contemplated by the non-binding letters of intent dated March 23, 2026 and June 23, 2026. Following completion of the Acquisitions and those decisions, two non-binding letters of intent remain outstanding (the “Outstanding LOIs”). The proposed acquisitions contemplated by the Outstanding LOIs (the “Proposed LOI Acquisitions”) are non-binding and remain subject to the completion of satisfactory due diligence and the negotiation and execution of definitive purchase agreements. There can be no assurance that any of the Proposed LOI Acquisitions will be completed as proposed, or at all. No finder’s fees are payable in respect of the Proposed LOI Acquisitions. Each of the Proposed LOI Acquisitions is with an arm’s length vendor.PharmaCorp is a Canadian pharmacy acquisition and ownership platform focused on empowering pharmacists as equity partners and supporting succession for retiring pharmacy owners. Through a combination of capital, strategic support and operational expertise, PharmaCorp is building a national network of community pharmacies under the PharmaChoice Canada banner.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.PharmaCorp currently operates 17 PharmaChoice Canada-bannered pharmacies and intends to continue acquiring both PharmaChoice Canada-bannered and independent pharmacies across Canada, rebranding non-bannered locations under the PharmaChoice Canada platform in accordance with its strategic alliance with PharmaChoice Canada, where applicable. PharmaCorp shares trade on the TSX Venture Exchange under the symbol PCRX.PharmaCorp welcomes discussions with pharmacy owners considering succession or sale. For more information about PharmaCorp’s acquisition program and process, please visit www.PharmaCorpRx.ca or contact the company confidentially. PharmaCorp is committed to seamless transitions that protect pharmacy owners’ legacies and continue serving their communities.For further information, please contact:Investor RelationsLodeRock Advisors Inc.Adam Peeleradam.peeler@pharmacorprx.caTel: (416) 427-1235Neither the TSX Venture Exchange nor its Regulation Services Provider, as that term is defined in the policies of the TSX Venture Exchange, accepts responsibility for the adequacy or accuracy of this release.This advertisement has not loaded yet, but your article continues below.Forward-Looking InformationThis news release contains “forward-looking information” regarding the Corporation within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information.In particular, this news release contains forward-looking information relating to: the continued operation of the pharmacy acquired under the Pharmacy Acquisition by its existing managing pharmacist during the transition period and its integration into the PharmaCorp platform; the continued servicing of the files acquired under the File Acquisition from an existing PharmaCorp pharmacy and the expected consolidation of patient volume into that location; the Outstanding LOIs and the Proposed LOI Acquisitions, including the negotiation and execution of definitive purchase agreements in respect of the Proposed LOI Acquisitions, the expected terms of the Proposed LOI Acquisitions, the consideration for the Proposed LOI Acquisitions, the expected conditions (including due diligence) and the satisfaction of those conditions for the completion of the Proposed LOI Acquisitions, and the potential completion of the Proposed LOI Acquisitions; the availability of advances under the acquisition term facility to fund future acquisitions, including the satisfaction of the conditions to such advances and the receipt of any required CIBC approvals; the Corporation’s expectation that it will continue to pursue both pharmacy acquisitions and prescription file purchases where they arise; the Corporation’s acquisition pipeline and anticipated pace of future acquisitions; the continued acquisition, integration and operation of pharmacies across Canada; and the Corporation’s acquisition framework, capital allocation strategy and plans for growth.This advertisement has not loaded yet, but your article continues below.This forward-looking information reflects current beliefs and is based on information currently available to the management of the Corporation and on assumptions the Corporation believes are reasonable. These assumptions include, but are not limited to: the successful integration and operation of the pharmacy acquired under the Pharmacy Acquisition and of the files acquired under the File Acquisition; the retention of the existing managing pharmacist during the transition period; the execution of definitive purchase agreements in respect of the Proposed LOI Acquisitions; the completion of satisfactory due diligence and the satisfaction or waiver of customary closing conditions in respect of the Proposed LOI Acquisitions; the receipt of all required approvals for the Proposed LOI Acquisitions, including any board approvals, regulatory approvals or third-party consents; market acceptance of the Proposed LOI Acquisitions; the Corporation’s continued compliance with the terms of the credit agreement with CIBC, including its financial covenants, and the satisfaction of the conditions to advances under the acquisition term facility; the continued availability of pharmacies and prescription files for purchase by the Corporation at prices satisfactory to the Corporation; and the volume of acquisition opportunities presented to the Corporation being equal to or greater than historical volumes.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delays or failures to receive board, third-party or regulatory approvals; competition; changes in legislation, including pharmacy regulation, affecting the Corporation; the timing and availability of external financing on acceptable terms; the inability of the Corporation to satisfy the conditions to, or obtain any required approval of CIBC for, advances under the acquisition term facility; conclusions of economic evaluations and appraisals; and a lack of qualified, skilled labour or the loss of key individuals.A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation’s disclosure documents on the SEDAR+ website at www.sedarplus.ca. Although the Corporation has attempted to identify important risks and factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.This advertisement has not loaded yet, but your article continues below.Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information, as there can be no assurance that the plans, intentions or expectations upon which it is based will occur.The forward-looking information contained in this news release is expressly qualified by this cautionary statement and represents the expectations of the Corporation as of the date of this news release. Accordingly, it is subject to change after such date. The Corporation expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.