03:44 PM EDT, 09/25/2024 (MT Newswires) -- PharmaCorp RX (PCRX.V) on Wednesday it agreed to acquire a pharmacy business including land and buildings located in Atlantic Canada for $15.3 million from arms-length vendors.

Of the $15.3 million, $15.1 million will be paid in cash on hand and $200,000 will be paid with shares of PharmaCorp.

The purchase is PharmaCorp's third acquisition, including the PharmaChoice Canada strategic alliance and the acquisition of a 75% interest in a pharmacy in Saskatoon, Saskatchewan.

"We are pleased to announce the acquisition, marking a significant milestone as our third acquisition," Executive Chairperson Al Simpson said in a release. "The acquisition not only highlights our commitment to strategic growth, but also reinforces our dedication to safeguarding the legacies within the independent pharmacy community."

The company's shares were last seen up $0.03 to $0.68 on the TSX Venture Exchange.

Price: 0.68, Change: +0.03, Percent Change: +4.62