Pharmacorp Rx to acquire Ont. pharmacy for $5.3-million

Executive Summary

• Pharmacorp Rx Inc. has signed a definitive share purchase agreement to acquire a 100% interest in a PharmaChoice Canada-bannered pharmacy in Ontario for $5.3 million, marking its first acquisition under its new charter company structure.
• The company entered into a non-binding letter of intent to acquire two additional pharmacies in Atlantic Canada for approximately $6.48 million, with closing anticipated in Q1 2026.
• Pharmacorp provided an update on previous acquisitions, confirming the closure or definitive agreement for three of four previously announced transactions (totaling ~$11.1 million) and abandoning one transaction (~$1.4 million).

Key Details

• Ontario Acquisition (Definitive):
  • Target: 100% interest in a PharmaChoice Canada-bannered pharmacy business in Eastern Canada.
  • Purchase Price: $5.3 million, subject to customary adjustments.
  • Funding: Cash on hand and available funds under the corporation's credit facility.
  • Closing: Expected on or about October 1, 2025.
  • Fees: No finders' fees payable.
  • Significance: First acquisition under the charter company structure established in April 2025.
• Atlantic Canada Acquisition (Non-Binding LOI):
  • Target: Two PharmaChoice Canada-bannered community pharmacies.
  • Purchase Price: Approximately $6.48 million, subject to customary adjustments.
  • Funding: Combination of cash on hand, issuance of common shares from treasury, and funds from the credit facility.
  • Closing: Anticipated in Q1 2026, subject to execution of definitive agreements, due diligence, and TSX-V acceptance.
  • Terms: Arm's length transaction; no new insiders created; no change of control triggered.
  • Fees: No finders' fees will be paid.
• Update on Previous Announcements (May 29, 2025):
  • Completed/Definitive: Closed or entered into definitive agreements for three of the four previously announced pharmacies, representing an aggregate purchase price of approximately $11.1 million.
  • Abandoned: Determined not to proceed with the fourth transaction, which had an aggregate purchase price of approximately $1.4 million.
• Other Updates:
  • Filed Q2 investor presentation on SEDAR+ and company website.

Notable Quotes

• "This acquisition represents an important milestone for Pharmacorp as our first PharmaChoice bannered transaction completed under the charter company structure we established earlier this year for Ontario," said Al Simpson, executive chair of Pharmacorp. "Together with the announcement of one additional LOI, we continue to validate the strength of our platform, pipeline and acquisition model, anchored by the strategic alliance agreement with PharmaChoice Canada."