Progressive Care Engages Monarch Bay Securities as M & A
Advisor
MIAMI, FL -- August 23, 2016 -- InvestorsHub NewsWire --
Progressive Care Inc. (OTC
PINK: RXMD), through its subsidiary Pharmco LLC, a South
Florida health services organization and provider of prescription
pharmaceuticals specializing in health practice risk management,
compounded medications, the sale of anti-retroviral medications and
related medication therapy management, and the supply of
prescription medications to long term care facilities, announces a
new placement agent and advisory agreement with Monarch Bay
Securities.
On August 22, 2016, The Company entered into a Placement Agent
and Advisory Agreement with Monarch Bay Securities, LLC (MBS). MBS
will act on an exclusive basis with respect to finding investors
for potential offerings of the Companys securities and on a
non-exclusive basis as an advisor to identify and introduce
prospective parties to an acquisitions, merger, joint venture or
other similar transaction or relationship. Pursuant to this
agreement, as disclosed in its entirety on OTCMarkets.com, MBS is
entitled to a cash due diligence fee, 500,000 shares of restricted
common stock of the company at execution, 500,000 shares of
restricted common shares in 180 days from execution, and a success
fee payable in a combination of cash and stock upon execution of a
financing or merger/acquisition. Shares issued to MBS pursuant to
this agreement are exempt from registration under the Securities
Act of 1933 and bear a 12 month hold period.
The purpose of this engagement is to identify strategic
merger/acquisition targets, both private and public, that will be
synergistic with the Companys core business and raise funds
pursuant to a securities offering in conjunction with an approved
transaction. As such, an executed merger/acquisition and offering
may present the Company with opportunities to achieve accelerated
growth, economies of scale, and the ability to up-list to a
national exchange such as Nasdaq.
Monarch Bay Securities is excited to work with Progressive Care
and help support its capital markets and growth initiatives, stated
Keith Moore, Chief Executive Officer of Monarch Bay Securities.
To achieve the next phase of development as a publicly traded
company, we have been working diligently to identify opportunities
for large scale growth, stated S. Parikh Mars, CEO. Monarch Bay,
with is its unique expertise in the healthcare industry, has become
an impactful advisor on new avenues for targeting potential mergers
and acquisitions. We believe that our relationship with Monarch Bay
will ultimately yield the opportunity to take the Company to the
next level and become the institution it was always destined to
be.
About Monarch Bay Securities, LLC
Monarch Bay Securities, LLC, member FINRA/SIPC, was established
in 2006 to assist both private and public companies in all areas of
capital markets formation. Over the years, Monarch Bay has
continued to expand its services and professionals, becoming a one
stop middle market investment bank. Monarch Bay provides corporate
finance, M&A advisory, third party research, and institutional
sales services to a diversified client base that includes
fast-growing companies, financial institutions, and high net worth
clients. Monarch Bays mission is to create opportunity through an
application of proven innovation and entrepreneurial focus. For
more information please see www.mbsecurities.com
About Progressive Care
Progressive Care, Inc. (OTC
PINK: RXMD), through its subsidiary PharmCo, LLC, is a South
Florida health services organization and provider of prescription
pharmaceuticals specializing in health practice risk management,
compounded medications, the sale of anti-retroviral medications and
related medication therapy management, and the supply of
prescription medications to long term care facilities.
Cautionary Statement Regarding Forward Looking Statements
Statements contained herein that are not based upon current or
historical fact are forward-looking in nature and constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Such forward-looking statements reflect the Companys
expectations about its future operating results, performance and
opportunities that involve substantial risks and uncertainties.
These statements include but are not limited to statements
regarding the intended terms of the offering, closing of the
offering and use of any proceeds from the offering. When used
herein, the words anticipate, believe, estimate, upcoming, plan,
target, intend and expect and similar expressions, as they relate
to Progressive Care Inc., its subsidiaries, or its management, are
intended to identify such forward-looking statements. These
forward-looking statements are based on information currently
available to the Company and are subject to a number of risks,
uncertainties, and other factors that could cause the Company's
actual results, performance, prospects, and opportunities to differ
materially from those expressed in, or implied by, these
forward-looking statements.
Contact
Armen Karapetyan
Senior Advisor Business Development
armen@progressivecareus.com