Shoppers Drug Mart Corporation Files Final Short Form Base Shelf Prospectus for up to $1 Billion of Medium Term Notes

/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/

TORONTO, Jan. 9, 2012 /CNW/ - Shoppers Drug Mart Corporation (TSX: SC) today announced that it has filed, with the securities regulators in each of the provinces of Canada, a final short form base shelf prospectus for the issuance of up to $1 billion of medium term notes.  Subject to the requirements of applicable law, medium term notes can be issued under the final prospectus for up to 25 months from the date of the final receipt.  No incremental debt has been incurred by the Company as a result of this filing.

Any offering of medium term notes under the prospectus is expected to be made by way of a prospectus supplement or pricing supplement to the final short form base shelf prospectus.  The final short form base shelf prospectus, including the documents incorporated by reference therein, contains important information concerning these securities and is available on SEDAR at www.sedar.com.  Prospective investors should read the final short form base shelf prospectus, as supplemented and amended from time to time, before making any investment decision.

The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered, sold or delivered within the United States of America and its territories and possessions except in certain transactions exempt from such registration requirements.

About Shoppers Drug Mart Corporation

Shoppers Drug Mart Corporation is one of the most recognized and trusted names in Canadian retailing.  The Company is the licensor of full-service retail drug stores operating under the name Shoppers Drug Mart (Pharmaprix in Québec).  With more than 1,200 Shoppers Drug Mart and Pharmaprix stores operating in prime locations in each province and two territories, the Company is one of the most convenient retailers in Canada.  The Company also licenses or owns 60 medical clinic pharmacies operating under the name Shoppers Simply Pharmacy (Pharmaprix Simplement Santé in Québec) and eight luxury beauty destinations operating as Murale.  As well, the Company owns and operates 63 Shoppers Home Health Care stores, making it the largest Canadian retailer of home health care products and services.  In addition to its retail store network, the Company owns Shoppers Drug Mart Specialty Health Network Inc., a provider of specialty drug distribution, pharmacy and comprehensive patient support services, and MediSystem Technologies Inc., a provider of pharmaceutical products and services to long-term care facilities in Ontario and Alberta.

For more information, visit www.shoppersdrugmart.ca.