(TSX-V:PCRX),
SASKATOON, Saskatchewan, Aug. 13, 2025 (GLOBE NEWSWIRE) — PHARMACORP RX INC. (“PharmaCorp” or the “Corporation“) (TSXV: PCRX) is pleased to announce that it has entered into a credit agreement with Canadian Imperial Bank of Commerce (“CIBC“) providing the Corporation with up to $20,500,000 of committed credit facilities (the “Credit Facilities“), plus a $10,000,000 accordion feature and a $1,000,000 Visa credit facility. The Credit Facilities will support PharmaCorp's acquisition strategy and the expansion of its acquisition and operating platforms.
In conjunction with the above Credit Facilities, CIBC is also supporting PharmaCorp's Pharmacist Co-Ownership Program through a separate $5,000,000 credit facility which makes loans available to pharmacists wishing to acquire an ownership position in the PharmaCorp pharmacy where they work.
Credit Facilities
The Credit Facilities include:
- A $17,500,000 committed acquisition term facility with a $10,000,000 accordion feature, allowing PharmaCorp to increase its borrowing capacity as acquisition opportunities arise
- A $3,000,000 committed revolving operating line for working capital
Pharmacist Co-Ownership Program Credit Facility – Supporting Growth and Local Ownership
The $5,000,000 Pharmacist Co-Ownership Program credit facility, delivered through PharmaCorp's Co-Ownership Financing Program, addresses the long-standing “access to capital” challenge for pharmacists in the pharmacy sector. Under this program, loans are made available to pharmacists wishing to acquire an ownership position in the PharmaCorp pharmacy where they work, financing up to 100% of their equity investment. These loans will be offered at competitive rates with repayment terms of up to 15 years.
“PharmaCorp's Co-Ownership Financing Program removes a significant barrier to ownership,” said Alan Simpson, Executive Chairman of PharmaCorp. “Many talented pharmacists simply don't have the capital or financing options to become true owners. Our program, now backed by CIBC, provides them with a direct path to equity and long-term wealth creation through co-ownership with PharmaCorp. With these expanded credit facilities in place, we are now well-positioned to continue to execute acquisition opportunities and to scale our co-ownership model across Canada in the near term.”
About PharmaCorp Rx Inc.
PharmaCorp currently operates four PharmaChoice Canada bannered pharmacies in Canada and will continue to acquire PharmaChoice Canada branded pharmacies as they come to market in conjunction with its strategic alliance agreement with PharmaChoice Canada. The Corporation will also acquire independently owned non-PharmaChoice Canada bannered pharmacies in Canada, and thereafter, continue to operate such acquired pharmacies under a ‎PharmaChoice Canada banner. PharmaCorp shares trade on the TSX Venture Exchange under the symbol: PCRX.
PharmaCorp actively welcomes discussions with pharmacy owners considering succession or sale. For more information about our acquisition program and process, please visit www.PharmaCorpRx.ca or contact our team confidentially. We are committed to seamless transitions that protect your legacy and serve your community.
For further information, contact:
Mr. Alan Simpson
Suite #203, 303 Wellman Lane, Saskatoon, SK S7T 0J1 ‎
Tel: (306) 536-3771
Neither 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.
Forward-Looking Information: This 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 in relation to: the Credit Facilities, including the accordion feature, the impact of the Credit Facilities on the Corporation's acquisition strategy and its acquisition and operating platforms; the Pharmacist Co-Ownership Program including the $5,000,000 credit facility to support the program, the availability of the $5,000,000 credit facility and the terms of this credit facility, the impact of the program to remove barriers to ownership and to provide a path to wealth creation and the timing for the roll out of this program; potential acquisition opportunities and the completion of such acquisitions; and the Corporation's goal to continue to acquire pharmacies as they come to market and to operate such pharmacies under the PharmaChoice Canada banner. 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 supply of satisfactory pharmacies coming to market for purchase by the Corporation at prices satisfactory to Corporation, and the ability of the Corporation to acquire such pharmacies; the volume of acquisition opportunities presented to the Corporation being equal to or greater than historical volumes; and market acceptance of the Pharmacist Co-Ownership Program and the terms of the credit facility under such program‎. 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; delay or failure to receive board of directors, 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; conclusions of economic evaluations and appraisals; and lack of qualified, skilled labour or 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. 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 they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of the Corporation as of the date of this news release and, accordingly, is subject to change after such date. However, 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 law.
