• Purchase price of approximately $8.1 million
• Acquisition increases PharmaCorp's operating network to 15 pharmacies
• Previously announced second definitive share purchase agreement has received preliminary college approval and is anticipated to close on or about August 17, 2026
• Additional non-binding letter of intent executed for a proposed pharmacy acquisition in Western Canada

Saskatoon, Saskatchewan--(Newsfile Corp. - July 31, 2026) - PHARMACORP RX INC. (TSXV: PCRX) ("PharmaCorp" or the "Corporation"), a Canadian pharmacy acquisition and ownership platform, announced today that, further to its May 25, 2026 news release, it has completed the acquisition of a 100 per cent interest in a PharmaChoice Canada-bannered pharmacy located in Ontario (the "Acquisition").

The Acquisition represents the tenth pharmacy added to the Corporation's operating network through acquisitions completed since August 2025 and increases PharmaCorp's overall store count to 15 pharmacies.

The aggregate purchase price for the Acquisition was approximately $8.1 million and was funded using the Corporation's existing cash resources. The pharmacy was acquired from an arm's length vendor group, and no finder's fees were payable in connection with the Acquisition.

In its April 30, 2026 news release, PharmaCorp disclosed that it had executed four non-binding letters of intent, dated February 23, 2026, February 27, 2026, March 3, 2026 and March 23, 2026, respectively, relating to four additional proposed pharmacy acquisitions.

Since that announcement, the Corporation has entered into definitive share purchase agreements in respect of two of the four letters of intent, one of which relates to the Acquisition announced today and one of which relates to a PharmaChoice Canada-bannered pharmacy located in Western Canada (collectively, the "Definitive Agreements").

The Acquisition announced today is the first of the Definitive Agreements to close.

The Corporation has received preliminary approval from the applicable provincial college of pharmacy in respect of the second Definitive Agreement and anticipates closing on or about August 17, 2026, subject to the satisfaction or waiver of customary closing conditions. If completed, that acquisition would increase PharmaCorp's overall store count to 16 pharmacies.

Following the conversion of two of the four previously announced letters of intent into the Definitive Agreements, the two remaining previously announced non-binding letters of intent are progressing toward definitive purchase agreements. In addition, the Corporation has executed a further non-binding letter of intent, dated July 23, 2026, relating to the proposed acquisition of a pharmacy located in Western Canada.

Together with the previously disclosed non-binding letter of intent dated June 23, 2026, PharmaCorp currently has four active non-binding letters of intent in process. The proposed acquisitions contemplated by the active letters of intent remain subject to completion of due diligence and the negotiation and execution of definitive purchase agreements.

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 15 PharmaChoice Canada-bannered pharmacies and intends to continue acquiring 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, where applicable. PharmaCorp shares trade on the TSX Venture Exchange under the symbol PCRX.

PharmaCorp welcomes discussions with pharmacy owners considering succession or sale. For more information about PharmaCorp's acquisition program and process, please visit www.PharmaCorpRx.ca or contact the company confidentially. PharmaCorp is committed to seamless transitions that protect pharmacy owners' legacies and continue serving their communities.

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 relating to: the receipt of final regulatory approval in respect of, and the anticipated closing of, the acquisition contemplated by the second Definitive Agreement on or about August 17, 2026; the potential increase in PharmaCorp's overall store count to 16 pharmacies if that acquisition is completed; the negotiation and execution of definitive purchase agreements in respect of the proposed acquisitions contemplated by outstanding letters of intent; the potential completion of those proposed acquisitions; the continued operation and integration of the pharmacy acquired pursuant to the Acquisition; the Corporation's acquisition pipeline and anticipated pace of future acquisitions; the continued acquisition, integration and operation of pharmacies across Canada; and the Corporation's acquisition framework, capital allocation strategy and plans for growth.

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 satisfaction or waiver of all conditions relating to the acquisition contemplated by the second Definitive Agreement; the receipt of all required approvals and third-party consents for that acquisition, including final approval of the applicable provincial college of pharmacy; the successful integration and operation of the pharmacy acquired pursuant to the Acquisition; the execution of definitive purchase agreements in respect of the proposed acquisitions contemplated by outstanding letters of intent; the completion of satisfactory due diligence and the satisfaction or waiver of customary closing conditions in respect of those proposed acquisitions; the receipt of all required approvals for those proposed acquisitions, including any board approvals or third-party consents; the continued availability of pharmacies for purchase by the Corporation at prices satisfactory to the 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; delays or failures to receive board, 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 a lack of qualified, skilled labour or the 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 it is based will occur.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement and represents the expectations of the Corporation as of the date of this news release. Accordingly, it is subject to change after such date. 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 laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307511