Neighbourly Pharmacy Inc. announced that it has entered into agreement for a private placement of 4,150,000 subscription receipts at a price of CAD 28.95 per share for gross proceeds of CAD 120,142,500 on March 10, 2022. The transaction will include participation from affiliate of returning investor PCP GP, L.P. The securities to be issued will be subject to a four month hold period from the closing date. The transaction is subject to customary closing conditions and approvals of applicable securities regulatory authorities, including the TSX Venture Exchange.

The transaction is expected to close on or about March 18, 2022.