CareRx Corporation announced that it has entered into an agreement of private placement of 2,963,000 common shares at an issue price of CAD 2.70 for the gross proceeds of CAD 8,000,100 on January 11, 2023. The transaction will include participation from institutional investor 2,963,000 common shares. The transaction is expected to close in two tranches, with the first tranche closing on the closing date of the transaction and the second tranche expected to close on or before February 28, 2023.

Closing of the offering and the first tranche of the tranches is expected to occur on or about January 18, 2023, and is subject to customary conditions, including the receipt of all necessary regulatory approvals, including that of the Toronto Stock Exchange.