Progressive Care Announces
Pay-Off of Note to Chicago Venture Partners
Miami, FL -- August 09, 2018 --
InvestorsHub NewsWire -- Progressive Care
Inc. (OTCQB:
RXMD), a personalized healthcare
services and technology company, today announced that it has paid
off its convertible note to Chicago Venture Partners through an
issuance of common stock.
Progressive Care drew down a tranche against the
Chicago Venture note in the amount of $636,304 on February 15,
2018. The issuance of 1,974,279 shares of Progressive Care stock on
August 8, 2018 brings the company to a balance of zero and the
total number of issued shares to 15,503,604.
The company has been working to pay down its
liabilities while continuing to increase revenues and bring
increased value to its shareholders.
“We have a long-standing relationship with
Chicago Venture Partners and they have played an instrumental role
in allowing Progressive Care to move forward with its expansion
plans,” said S. Parikh Mars, CEO of Progressive Care. “Being able
to pay off this convertible note is an exciting milestone for the
company, as we can now shift our entire focus to accelerating our
expansion plans.”
Progressive Care
recently announced
its
plans to host a conference call for its investors on Tuesday, Aug.
14, 2018, at 4:30 pm ET to discuss financial results for the second
quarter of 2018. The company also plans to provide an update on the
company’s recent progress and upcoming
milestones.
For more information about
Progressive Care, please visit the company’s website.
Connect and stay in touch with
us on social media:
Progressive Care Inc.
https://www.facebook.com/ProgressiveCareUS/
https://twitter.com/ProgressCareUS
PharmCo, LLC
https://www.facebook.com/pharmcorx/
https://twitter.com/PharmCoRx
About Progressive Care
Inc.
Progressive Care Inc. (OTCQB:
RXMD), through its PharmCo, LLC, is a South Florida health services
organization and provider of prescription pharmaceuticals,
compounded medications, provider of tele-pharmacy services, the
sale of anti-retroviral medications, medication therapy management
(MTM), the supply of prescription medications to long term care
facilities, and health practice risk management.
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 Company’s 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.
Public Relations
Contact:
Tory Patterson, CMW
Media
Tory@cmwmedia.com
www.cmwmedia.com
Investor Relations
Contact:
Armen Karapetyan, Progressive
Care
Senior Advisor Business
Development
Armen@progressivecareus.com
www.progressivecareus.com
www.pharmcopharmacy.com
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