PharmaCorp Announces Definitive Agreement to Acquire Western Canada PharmaChoice Bannered Pharmacy

Executive Summary

• PharmaCorp Rx Inc. entered into a definitive share purchase agreement to acquire 100% of a PharmaChoice bannered pharmacy in Western Canada, representing the second of four previously announced letters of intent (LOIs) to convert into a binding deal.
• The transaction has an aggregate purchase price of approximately $2.47 million and is expected to close in late July 2026, subject to customary conditions and regulatory approvals.
• Upon completion of this acquisition, along with two other previously announced acquisitions (an eight-store deal in Eastern Canada and an Ontario acquisition), PharmaCorp expects its total store count to increase to 16 community pharmacies across Canada.

Key Details

• Transaction Structure: Definitive share purchase agreement for 100% of issued and outstanding shares of the target pharmacy.
• Purchase Price: Approximately $2,470,000, subject to customary adjustments.
• Funding: To be funded using the Corporation's existing cash resources.
• Closing Timeline: Expected to close in late July 2026, subject to customary closing conditions including regulatory approvals.
• Strategic Context: This is the second of four non-binding LOIs announced on April 30, 2026, to be converted into definitive agreements. Two remaining LOIs are progressing through due diligence.
• Operational Impact:
  • Current store count: 6 pharmacies.
  • Expected post-closing store count: 16 pharmacies (assuming completion of this deal, the eight-store Eastern Canada acquisition, and the Ontario acquisition).
  • The eight-store Eastern Canada acquisition is on track to close in early July 2026.
  • The Ontario acquisition is on track to close in late July 2026.
• Transition Plan: The current owner will assist with transition planning. An existing staff pharmacist is expected to assume the role of managing pharmacist to ensure continuity of patient care and local relationships.
• Fees: No finder's fees are payable in connection with the Acquisition.

Notable Quotes

• "This transaction reflects the continued execution of our acquisition strategy and demonstrates our ability to convert previously announced LOIs into definitive agreements," said Alan Simpson, Executive Chair of PharmaCorp. "The pharmacy we are acquiring has a strong operating foundation, an established patient base, and a transition plan that aligns well with our pharmacist-led operating model."