Neighbourly Announces Closing of Over-Allotment Option in connection with Initial Public Offering

/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

TORONTO, June 4, 2021 /CNW/ - Neighbourly Pharmacy Inc. ("Neighbourly" or the "Company") (TSX: NBLY), Canada's largest and fastest growing network of community pharmacies, today announced that, further to its recently completed initial public offering of common shares of the Company (the "Offering"), the over-allotment option granted by certain shareholders of the Company (the "Selling Shareholders") to the underwriters under the Offering to purchase an additional 1,544,250 common shares of the Company from the Selling Shareholders at a price of $17.00 per common share (the "Over-Allotment Option") was exercised in full. The Selling Shareholders received aggregate gross proceeds of approximately $26.25 million in connection with the closing of the Over-Allotment Option.  

Neighbourly's common shares are listed and have been trading on the Toronto Stock Exchange under the symbol "NBLY" since May 25, 2021.

The Offering was led by Scotiabank and RBC Capital Markets as joint active bookrunners and BMO Capital Markets as joint bookrunner (collectively with Scotiabank and RBC Capital Markets, the "Co-Lead Underwriters"), together with a syndicate comprised of National Bank Financial Inc., TD Securities Inc., Desjardins Capital Markets, iA Private Wealth Inc., and HSBC.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The Company's common shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws. Accordingly, the Company's common shares may not be offered, sold, or delivered within the United States unless pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Neighbourly in any jurisdiction in which such offer, solicitation, or sale would be unlawful.

About Neighbourly Pharmacy Inc.

Neighbourly is Canada's largest and fastest growing network of community pharmacies. United by their patient first focus and their role as essential and trusted healthcare hubs within their communities, Neighbourly's pharmacies strive to provide accessible healthcare with a personal touch. Since 2015, Neighbourly has expanded its diversified national footprint to include 145 locations, reinforcing the Company's reputation as the industry's acquirer of choice.

SOURCE Neighbourly Pharmacy Inc.

please contact [email protected] or visit www.neighbourlypharmacy.ca