Mednow agrees to acquire Mednow East in Ontario

• Mednow (OTCQB:MDNWF) has entered into a share purchase pact with Mednow East, pursuant to which the company shall acquire all of the issued and outstanding shares of Mednow East, in consideration for cash payment of ~C$65,578 and the company’s agreement to convert ~C$1.37M owed by Mednow East to the company pursuant to a pharmacy agreement dated September 15, 2020, as amended October 30, 2020.
• Based in Toronto, Mednow East is an Ontario company that operates an online pharmacy, delivering prescriptions in the Province of Ontario.
• Post acquisition, Mednow will own 100% of a pharmacy located in Ontario, which will allow Mednow to provide free same-day pharmaceutical delivery services in the GTA and surrounding areas, and free next-day delivery in the rest of Ontario.
• The debt of ~C$1,374,422 extended to Mednow East by the Company was used to fund Mednow East’s working capital and provide support for its operations.