PERSISTENCE CAPITAL PARTNERS ACQUIRE COMMON SHARES OF NEIGHBOURLY PHARMACY INC.

MONTRÉAL, Aug. 4, 2022 /CNW/ - Rx Sidecar IV, L.P. (the "Acquiror"), an affiliate of Persistence Capital Partners and its affiliated private equity funds (collectively, "PCP") announced today that it acquired by private agreement 435,000 common shares (the "Common Shares") of Neighbourly Pharmacy Inc. (the "Issuer"), Canada's largest and fastest growing network of independent pharmacies, representing approximately 0.98% of the presently issued and outstanding Common Shares of the Issuer.

Immediately prior to the acquisition, PCP beneficially owned or had control or direction over, directly or indirectly, 21,985,922 Common Shares, representing approximately 49.6% of the then issued and outstanding Common Shares of the Issuer. The acquisition described herein increased PCP's interest in the Issuer by 435,000 Common Shares to 22,420,922, or approximately 50.6% of the presently issued and outstanding Common Shares.

PCP acquired the Common Shares for investment purposes, and may, from time to time, depending on market and other conditions, increase or decrease its direct or indirect beneficial ownership, control or direction over Common Shares of the Issuer through market transactions, private agreements, or otherwise. The acquisition was made as a block trade from a single seller at a purchase price of $21.00 per Common Share for an aggregate purchase price of $9,135,000. The block trade was arranged through the facilities of NASDAQ CX Toronto. The Issuer is listed on the Toronto Stock Exchange under the symbol "NBLY".

The Acquiror and PCP have their principal office located in Toronto at 60 Bloor Street West, Suite 404, Toronto, ON M4W 3B8. The Issuer's head office is located in Toronto at 190 Attwell Drive, Unit 400, Toronto, ON M9W 6H8.

For further information and/or a copy of the related early warning report to be filed on SEDAR under the Issuer's profile at www.sedar.com, please contact the general counsel and secretary of the Acquiror by email at: [email protected]. All dollar amounts expressed in this news release are in Canadian dollars.

SOURCE Persistence Capital Partners LP

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