KELOWNA, BRITISH COLUMBIA - (Marketwire - Aug. 29, 2008) - Paragon Pharmacies Limited ("Paragon") (TSX VENTURE:PGN) is pleased to announce that shareholders of Paragon have approved the amalgamation (the "Amalgamation") of Paragon with 1405257 Alberta Ltd. as more fully described in the management information circular dated August 1, 2008. The Amalgamation will occur effective Sunday, August 31, 2008.
The Amalgamation will reduce the total outstanding (undiluted) Paragon shares by 8,000,000 shares to 39,407,043 shares.
In addition, the Company announces that an extension to September 15, 2008 has been reached with Canterbury Park Capital LP and Canterbury Park Capital (US) LP to close the previously announced equity conversion.
Paragon is headquartered in Kelowna, British Columbia and currently employs over 500 full and part time staff in its stores and offices. The Corporation owns and operates 17.5 retail pharmacies, 3 central fill locations and 2 home healthcare stores in British Columbia, Alberta and Manitoba.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Website: www.paragonpharmacies.com
Tags: ,Retail,Cosmetics and Accessories,TAKEOVERS/ LETTER of INTENT
_ _Is your favorite bookmark site missing?
Ask for it.
Search News
Daily News
