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Progressive Care Issues Update on Building Permits
MIAMI, FL -- July 28, 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, issues an
update on the status of building permits.
As of July 28th, PharmCo, LLC has cleared all requirements of
the County of Miami-Dade. The final approval process has begun with
the City of North Miami Beach. The Company expects to receive
approval and issued building permits in the coming days.
On July 25th, Progressive Care received its first tranche of
$250,000 from Chicago Venture Partners. The Company intends to use
these funds primarily for the build-out of the warehouse space as
well as general working capital to further growth and development
of the Company.
We are pleased to be on the cusp of receiving our building
permits, stated S. Parikh Mars, CEO. The expansion into the
warehouse space is a necessary next step to achieving significant
growth in a number of areas including compounding and long term
care sales. We are excited that with the conclusion of the building
process we will be able to install our automation system and ramp
up sales across the board.
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