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Underwriters exercise over-allotment option in full

TORONTO , Oct. 25, 2021 /CNW/ - Neighbourly Pharmacy Inc. (" Neighbourly " or the " Company ") (TSX: NBLY), Canada's largest and fastest growing network of community pharmacies, today announced the closing of its previously-announced treasury and secondary bought deal offering of common shares (the " Offering "). The Offering was led by Scotiabank and RBC Capital Markets as bookrunners, together with a syndicate comprised of BMO Capital Markets, National Bank Financial Inc., Desjardins Capital Markets, iA Private Wealth Inc. and TD Securities Inc. (collectively, the " Underwriters ").

A total of 4,864,500 of Neighbourly's common shares were sold, including 634,500 common shares following the full exercise by the Underwriters of their over-allotment option, at a price of $30.75 per share, for gross proceeds to the Company of approximately $30 million and to selling shareholders of approximately $120 million .

Immediately following closing of the Offering, Persistence Capital Partners owns or controls, directly or indirectly, 17,213,422 of Neighbourly's common shares, representing approximately 50.0% of the Company's issued and outstanding common shares.

No securities regulatory authority has either approved or disapproved of the contents of this news release. Neighbourly's common shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), or any state securities laws. Accordingly, the Company's common shares may not be offered, sold, or delivered within the United States unless pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Neighbourly in any jurisdiction in which such offer, solicitation, or sale would be unlawful.

About Neighbourly Pharmacy Inc.

Neighbourly is Canada's largest and fastest growing network of community pharmacies. United by their patient first focus and their role as essential and trusted healthcare hubs within their communities, Neighbourly's pharmacies strive to provide accessible healthcare with a personal touch. Since 2015, Neighbourly has expanded its diversified national footprint to include 167 locations (on a pro forma basis, after giving effect to recently announced proposed acquisitions), reinforcing the Company's reputation as the industry's acquirer of choice.

Forward-Looking Statements

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information may relate to our future financial results and may include information regarding our financial position, business strategy, growth strategies, financial results, taxes, dividend policy, plans and objectives. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as "expects", "estimates", "outlook", "forecasts", "projection", "prospects", "intends", "anticipates", "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will", "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances.

Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that the Company considered appropriate and reasonable as of the date such statements are made in light of its experience and perception of historical trends, current conditions and expected future developments. Further, forward-looking information is subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to factors discussed or referred to in the Company's Management's Discussion and Analysis for the twelve-weeks ended June 19, 2021 and under the heading "Risk Factors" in the final long form prospectus dated May 17, 2021 filed in connection with the initial public offering of Neighbourly, both of which are available on SEDAR at www.sedar.com under the Company's profile, and in our other public filings filed with Canadian Securities Commissions. If any of these risks or uncertainties materialize, or if the opinions, estimates, or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information.

Although we have attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this news release represents the Company's expectations as of the date of this news release (or as the date they are otherwise stated to be made) and are subject to change after such date. However, the Company disclaims any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws in Canada . All of the forward-looking information contained in this news release is expressly qualified by the foregoing cautionary statements.

SOURCE Neighbourly Pharmacy Inc.

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