01:27 PM EDT, 08/22/2024 (MT Newswires) -- PharmaCorp Rx (PCRX.V), previously Proton Capital, is acquiring a 90% interest in a pharmacy in Western Canada, for $2.2 million. The acquisition will be funded from cash and is expected to close by August 30.

The two arms-length vendors will retain a 10% interest in the pharmacy, and will continue working there. One of the vendors has entered into a long-term agreement as managing pharmacist, the company said.

This is PharmaCorp's second acquisition following the acquisition of a 75% interest in a pharmacy in Saskatoon in June. PharmaCorp says it will continue to buy independently-owned and branded PharmaChoice pharmacies as they come to market.

PharmaCorp was last seen unchanged at $0.53 on the TSX Venture Exchange.