Centric Health Changes Name to CareRx Corporation and Completes Share Consolidation
TORONTO, June 22, 2020 /CNW/ - Centric Health Corporation ("Centric Health" or "the Company") (TSX: CHH), Canada's leading provider of specialty pharmacy services to Canadian seniors, has filed articles of amendment changing its name to "CareRx Corporation" and consolidating its outstanding common shares (the "Shares") at a ratio of twenty (20) pre-consolidation Shares to one (1) post-consolidation Share (the "Consolidation"). The Toronto Stock Exchange has informed the Company that its Shares will commence trading under the new name and on a post-Consolidation basis at the market open on June 25, 2020, at which time the Company's stock trading symbol will also be changed to "CRRX". The Company also intends to formally rebrand itself as "CareRx" on June 25, 2020, including the launch of its new website.
No fractional Shares will be issued as a result of the Consolidation. The holdings of any shareholder who would otherwise be entitled to receive a fractional Share as a result of the Consolidation will be rounded up to the next higher whole number if the fraction is 0.5 or greater, and rounded down to the next lower whole number if the fraction is less than 0.5.
Non-registered shareholders who hold Shares through a broker or other intermediary will have their positions automatically adjusted by the Company's transfer agent or their intermediary and do not need to take any further action to exchange their pre-Consolidation Shares for post-Consolidation Shares. Letters of transmittal will be mailed to all registered shareholders holding share certificates with instructions on how to exchange existing share certificate(s) for new share certificate(s) or a Direct Registration Statement (DRS). A letter of transmittal is also available on the Company's profile on SEDAR at www.sedar.com.
The Company's new CUSIP number is 14173C105 and its new ISIN number is CA14173C1059.
For additional information regarding the Consolidation, please refer to the Company's Management Information Circular dated May 15, 2020.
ABOUT CARERX CORPORATION
CareRx Corporation ("CareRx") (formerly Centric Health Corporation) is Canada's leading provider of specialty pharmacy services to Canadian seniors. CareRx serves more than 50,000 residents in over 850 seniors and other communities (long-term care homes, retirement homes, assisted living facilities, and group homes). CareRx is a national organization with a network of pharmacy fulfillment centres strategically located across the country. CareRx's proximity to its customers allows it to deliver medications in a timely and cost-effective manner, and quickly respond to routine changes in medication management.
This press release contains statements that may constitute "forward-looking statements" within the meaning of applicable Canadian securities legislation. These forward-looking statements include, among others, statements regarding the Company's business strategy, plans and other expectations, beliefs, goals, objectives, information and statements about possible future events. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate" or similar expressions suggesting future outcomes or events. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management.
Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those contemplated by such statements. Factors that could cause such differences include the government regulation and funding, the Company's liquidity and capital requirements, the highly competitive nature of the Company's industry, reliance on contracts with key customers and other risk factors described from time to time in the reports and disclosure documents filed by the Company with Canadian securities regulatory agencies and commissions. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. As a result of the foregoing and other factors, no assurance can be given as to any such future results, levels of activity or achievements and neither the Company nor any other person assumes responsibility for the accuracy and completeness of these forward-looking statements. The factors underlying current expectations are dynamic and subject to change.
SOURCE Centric Health Corporation
For further information: David Murphy, President and Chief Executive Officer, CareRx Corporation, 416-927-8400; Andrew Mok, Chief Financial Officer, CareRx Corporation, 416-927-8400