PharmaCorp announced that, further to its news release dated September 25, it has completed the acquisition of a 100% interest in a pharmacy business including land and buildings located in Atlantic Canada. The aggregate purchase price for the Acquired Pharmacy was $15,377,013, of which $15,177,013 was paid using cash on hand and $200,000 was paid by issuing common shares of PharmaCorp. The deemed price for the Common Shares was 66.16c pursuant to the price adjustment mechanism included in the applicable share purchase agreement.
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