PGN Pgnx Capital Corporation

Paragon Pharmacies Limited ("Paragon") (TSX VENTURE:PGN) is pleased to announce
that the TSXV Venture Exchange ("TSXV") has accepted Paragon's Notice of
Intention to make a Normal Course Issuer Bid (the "Bid") to purchase for
cancellation, from time to time, as Paragon considers advisable, up to a maximum
of 4,880,319 common shares (the "Common Shares"). The maximum number of Common
Shares to be purchased pursuant to the Bid represents 5% of the issued and
outstanding Common Shares at the date hereof. Purchases of Common Shares will be
made on the open market through the facilities of the TSXV. The price which
Paragon will pay for any Common Shares purchased by it will be the prevailing
market price of the Common Shares on the TSXV at the time of such purchase. The
actual number of Common Shares that may be purchased for cancellation and the
timing of any such purchases will be determined by Paragon.


The Bid will commence on October 9, 2009 and will terminate on October 8, 2010
or such earlier time as the Bid is completed or terminated at the option of
Paragon. The Company has retained CIBC World Markets Inc. as its broker to
conduct the normal course issuer bid on its behalf.


Management of Paragon believes that, from time to time, the market price of the
Common Shares may not fully reflect the underlying value of the Common Shares
and that at such times the purchase of Common Shares would be in the best
interests of Paragon. Such purchases will increase the proportionate interest
of, and may be advantageous to, all remaining shareholders. In addition, the
purchases by Paragon may increase liquidity to shareholders wishing to sell
their Common Shares.


Forward Looking Statements

This press release contains forward-looking statements regarding, among other
things, the Company's beliefs, plans, objectives, strategies, estimates,
intentions and expectations, including as they relate to its operating and
financial results, capital expenditures and the ability to execute on its
operating, investing and financing strategies. Consequently, actual results and
events may differ materially from those included in, contemplated or implied by
such forward looking statements for a variety of reasons. Forward-looking
statements are subject to inherent risks and uncertainties including, but not
limited to, market and general economic conditions, certain property and
casualty risks, the ability to attract and retain pharmacists, the availability
and terms of financing, changes in the Company's relationship with its key
suppliers, competitive factors, changes in regulatory environments affecting the
Company's business, and the accuracy in management's assumptions (see "Risks And
Risk Management" as noted in the Company's Management's Discussion & Analysis
posted on SEDAR at www.sedar.com). This list is not exhaustive of the factors
that may affect any of the Company's forward-looking statements. Investors and
others should carefully consider these and other factors and not place undue
reliance on these forward-looking statements. In addition, these forward-looking
statements relate to the date on which they were made and the Company disclaims
and has no intention or obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or otherwise.

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