SASKATOON, Saskatchewan, October 10, 2025 (GLOBE NEWSWIRE) — PHARMACORP RX INC. (“PharmaCorp” or “Corporation“) (TSXV: PCRX) has restated and restated its financial statements for the interim period ended June 30, 2025 (“Amended reporting for the 2nd quarter of 2025“), as well as related management discussion and analysis in PharmaCorp's profile on www.sedarplus.ca . In connection with the review conducted by the Corporation's auditor, it was decided to make certain accounting adjustments to the amended financial statements for the second quarter of 2025, which do not affect PharmaCorp's financial results.
The following table shows some of the changes in the amended financial statements for the 2nd quarter of 2025:
| For the six months ended | |||
| June 30, 2025 | |||
| In terms of $ | As previously reported $Reported | ||
| Condensed Consolidated Interim Statement of Financial Position | |||
| Charter (this item has been removed from amended statements for the 2nd quarter of 2025) |
– | 2,090,000 | |
| Intangible assets | 6 937 651 | 4 847 651 | |
| Condensed Consolidated Interim Statement of Cash Flows | |||
| Acquired Charter (this item was added to the amended reporting for the 2nd quarter of 2025) |
2,090,000 | – (this position previously didn't exist) |
|
| Acquisition of fixed assets | 55 438 | 2 145 438 | |
In addition, certain changes were made to the notes to the amended financial statements for the second quarter of 2025, including:
- Note 4 has been modified to indicate that the working capital adjustment for the acquisition of Atlantic Canada #1 was $1,019,014.
- Note 6 has been amended to add a line item for “Acquired Charter” of $2,090,000, remove that amount from the business combination working capital adjustment, include ($31,000) in the Customer List under “Business Combination Working Capital Adjustment” and change the total business combination working capital adjustment amount to $1,010,799. In addition, a footnote has been added to note 6 of the Acquired By-laws to set forth the restrictions on ownership of property under the Ontario Act. Drugs and Pharmacy Regulation Act. The depreciation amounts in Note 6 were also reduced to reflect the above working capital adjustment of $31,000 and the totals were also restated based on the above changes.
- Note 9 has been restated to confirm that there were no warrants outstanding as of December 31, 2024.
- Two subsequent event notes have been added to Note 15 to reflect the closing of the acquisition of two pharmacies located in Western Canada and one in Eastern Canada, as announced in the Corporation's press release dated October 2, 2025.
In addition, the restated statements for the second quarter of 2025 removed the audit notice, removed the word “income” from the title of the condensed consolidated interim statements of loss and comprehensive loss, and made certain changes to certain headings and line items in certain financial statements or notes.
The impact of the above changes on the previously reported 2nd quarter interim financial statements is minimal as total assets and net cash (used) provided by investing activities remained unchanged.
About PharmaCorp Rx Inc.
PharmaCorp currently operates seven PharmaChoice Canada-branded pharmacies in Canada and will continue to acquire PharmaChoice Canada-branded pharmacies as they enter the market under a strategic alliance agreement with PharmaChoice Canada. The Corporation will also acquire independent pharmacies in Canada that are not owned by PharmaChoice Canada and thereafter continue to operate such acquired pharmacies under the PharmaChoice Canada brand. PharmaCorp shares trade on the TSX Venture Exchange under the symbol PCRX.
PharmaCorp actively encourages discussions with pharmacy owners regarding succession or divestment issues. For more information about our program and purchasing process, visit https://www.PharmaCorpRx.ca or contact our team confidentially. We are committed to a smooth transition that protects your legacy and serves your community.
For more information contact:
Mr Alan Simpson
Suite #203, 303 Wellman Lane, Saskatoon, SK S7T 0J1
Tel: (306) 536-3771
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
