Neighbourly's Largest Shareholder Increases Ownership Position
TORONTO, Aug. 4, 2022 /CNW/ - Neighbourly Pharmacy Inc. (TSX: NBLY) ("Neighbourly" or the "Company") Canada's largest and fastest growing network of independent pharmacies, is pleased to announce that Persistence Capital Partners ("PCP"), its largest shareholder, has increased its ownership position of Neighbourly by acquiring an additional 435,000 common shares, or approximately an additional 1% of the issued and outstanding common shares of the Company.
As a result, PCP now beneficially owns or has control or direction over, directly or indirectly, 22,420,922 common shares of the Company, increasing its equity interest in Neighbourly to 50.6%.
"Our incremental investment demonstrates PCP's long-term commitment to Neighbourly and our high conviction of the future potential and continued successful execution of Neighbourly's acquisition and integration strategy within the highly fragmented Canadian pharmacy landscape," stated Stuart M. Elman, Managing Partner of PCP.
"We are pleased to have the continued support and confidence of PCP. With a robust pipeline of acquisitions, we feel strongly about and remain focused on execution of our opportunities for continued growth," stated Chris Gardner, Neighbourly's Chief Executive Officer.
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 275 locations, reinforcing the Company's reputation as the industry's acquirer of choice.
SOURCE Neighbourly Pharmacy Inc.
please contact: Marina Davies, VP Investor Relations at [email protected] or visit www.neighbourlypharmacy.ca.
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