PharmaCorp Announces Definitive Agreement to Acquire PharmaChoice Canada Bannered Pharmacy in Ontario

• Purchase price of approximately $8.2 million
• The acquisition represents a continued expansion of PharmaCorp’s footprint in Ontario

SASKATOON, Saskatchewan, May 25, 2026 (GLOBE NEWSWIRE) -- PHARMACORP RX INC. (“PharmaCorp” or the “Corporation”) (TSXV: PCRX) a Canadian pharmacy acquisition and ownership platform for pharmacist-led community pharmacy ownership, today announced that it has entered into a definitive share purchase agreement, dated May 22, 2026 (the “Agreement”) to acquire from an arm’s length vendor group a 100% interest in a PharmaChoice Canada bannered pharmacy located in Morrisburg, Ontario (the “Acquisition”). The Acquisition continues the expansion of the Corporation’s geographical footprint and operating scale. Further to PharmaCorp’s acquisition pipeline update announced in its press release dated April 30, 2026, in which the Corporation disclosed having executed non-binding LOIs, dated February 23, 2026, February 27, 2026, March 3, 2026 and March 23, 2026, respectively, in respect of four additional pharmacy acquisitions (the “LOIs”), this Acquisition represents the first conversion of those LOIs into a definitive share purchase agreement.

Upon completion, the Acquisition is expected to increase PharmaCorp’s store count to 15, including the eight PharmaChoice Canada bannered pharmacies in Eastern Canada previously announced on April 30, 2026 (the “Eight Store Acquisitions”).

Acquisition

“This Acquisition reflects the continued execution of our disciplined acquisition strategy,” said Alan Simpson, Executive Chair of PharmaCorp. “Importantly, the transaction is consistent with our acquisition framework and demonstrates our ability to convert previously disclosed letters of intent into definitive agreements while maintaining capital allocation discipline and acquisition parameters. Maintaining disciplined acquisition multiples and thoughtful capital deployment remains central to our growth strategy.”

The aggregate purchase price for the Acquisition is approximately $8,200,000, subject to customary adjustments (the “Purchase Price”), and is expected to be funded using the Corporation’s existing cash resources. The Acquisition is consistent with PharmaCorp’s acquisition framework and broader capital allocation strategy, including its disciplined approach to acquisition multiples and accretive growth.

The pharmacy will continue to be operated by its existing managing pharmacist during the transition period, supporting continuity of care, preserving patient relationships, and facilitating integration into the PharmaCorp platform.

The Purchase Price is consistent with PharmaCorp’s acquisition framework and in line with the Corporation’s multiple acquisition parameters, supporting accretion on invested capital.

The Acquisition is expected to close within approximately 60 days, subject to customary closing conditions, including approval of the Acquisition by the Ontario College of Pharmacists. No finder’s fees are payable in respect of the Acquisition.

About PharmaCorp Rx Inc.

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. PharmaCorp currently operates six PharmaChoice Canada bannered pharmacies, and will continue to acquire 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. 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, please contact:

Investor Relations
info@pharmacorprx.ca
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 potential Acquisition, including the potential to integrate the Acquisition efficiently while maintaining strong local relationships and operating performance, the potential closing of and closing date for the Acquisition, the funding for the Acquisition consisting of the Corporation’s existing cash resources; the remaining non-binding LOIs including the expectation that the proposed acquisitions under those remaining non-binding LOIs (the “Remaining Proposed LOI Acquisitions”) will close over the next two quarters, subject to customary conditions, the consideration for the Remaining Proposed LOI Acquisitions, the execution of definitive agreements for the Remaining Proposed LOI Acquisitions, the expected terms of the Remaining Proposed LOI Acquisitions, the expected conditions (including due diligence) and satisfaction of those conditions for the completion of the Remaining Proposed LOI Acquisitions, the Remaining Potential LOI Acquisitions reflecting continued sourcing momentum through the Corporation’s network and expanding acquisition pipeline and the Corporation’s disciplined approach to accretive growth, targeting independent pharmacy assets aligned with its operating model and integration capabilities and the expectations that the Remaining Potential LOI Acquisitions will support EBITDA growth through operational efficiencies, centralized systems and procurement leverage; the Corporation’s disciplined approach to valuation, integration, and long-term value creation; the increasing number of acquisition opportunities the Corporation is seeing; the Corporation continuing to evaluate additional capital opportunities to support its growth strategy as its acquisition pipeline expands; the Corporation’s focus on empowering pharmacists as equity partners and supporting succession for retiring pharmacy owners; the Corporation’s strategy of building a national network of community pharmacies under the PharmaChoice Canada banner through a combination of capital, strategic support, and operational expertise; the Corporation’s intention to continue to acquire 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. 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 completion of previously announced acquisitions, including the Acquisition and the Eight Store Acquisitions; the receipt of all required approvals and consents for the closing of the Acquisition; the satisfaction or waiver of all conditions in relation to the Acquisition; the availability of using existing cash resources to fund the Acquisition; the execution of a definitive agreement for the Remaining Proposed LOI Acquisitions; the completion of satisfactory due diligence on the Remaining Proposed LOI Acquisitions and the satisfaction of typical closing conditions for the Remaining Proposed LOI Acquisitions; the receipt of all required approvals for the Remaining Proposed LOI Acquisitions, including any board approvals or third party consents; market acceptance of the Remaining Proposed LOI Acquisitions; the continued supply of pharmacies for purchase by the Corporation at prices satisfactory to Corporation; and the volume of acquisition opportunities presented to the Corporation being equal to or greater than historical volumes. 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.

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