Mr. Puneet Khanna reports

CARERX CORPORATION ANNOUNCES INTENTION TO LAUNCH NORMAL COURSE ISSUER BID

CareRx Corp.'s board of directors has authorized a normal course issuer bid (the NCIB) to purchase for cancellation up to one million of its common shares, representing approximately 1.73 per cent of its 57,734,600 issued and outstanding shares as at Aug. 28, 2023. The NCIB is subject to the approval of the Toronto Stock Exchange (the TSX).

The company is focused on creating long-term shareholder value and it believes that its shares represent an attractive investment opportunity, and that purchases under the NCIB will enhance the value of the shares held by the remaining shareholders. The NCIB will provide optionality to return additional capital to shareholders and the decision to repurchase CareRx shares will be evaluated against other investment opportunities and internal leverage guidelines.

It is expected that this normal course issuer bid will begin on or around Sept. 7, 2023, and will end at the latest on or around Sept. 6, 2024. Daily purchases on the TSX under the NCIB will be limited to 25 per cent of the average daily trading volume on the TSX for the six months ending July 31, 2023, other than purchases made pursuant to the block purchase exception. The actual number of shares to be purchased, and the timing of any such purchases, will be determined by the company, subject to the applicable rules and policies of the TSX. The company will only make purchases under the normal course issuer bid once all regulatory approvals are obtained, and the shares acquired will be cancelled.

Although the company presently intends to purchase shares under its NCIB, there can be no assurances that any such purchases will be completed. The purchases will be made through the facilities of the TSX and/or any alternative trading system in Canada. The company will pay the market price for the common shares at the time of acquisition and the purchases will be made in accordance with applicable regulatory requirements.

About CareRx Corp.

CareRx is Canada's leading provider of pharmacy services to seniors living communities. It serves over 95,000 residents in over 1,500 seniors and other congregate care communities (long-term care homes, retirement homes, assisted living facilities and group homes). CareRx is a national organization with a large network of pharmacy fulfilment centres strategically located across the country. This allows the company to deliver medications in a timely and cost-effective manner and quickly respond to routine changes in medication management. The company uses best-in-class technology that automates the preparation and verification of multidose compliance packaging of medication, providing the highest levels of safety and adherence for individuals with complex medication regimes. CareRx takes an active role in working with its home operator partners to promote resident health, staff education, and medication system quality and efficiency.

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