Paragon Pharmacies Limited

Paragon Pharmacies Limited

December 19, 2008 19:26 ET

Paragon Pharmacies Limited Announces Appointment of Board Member and New Chairman

KELOWNA, BRITISH COLUMBIA--(Marketwire - Dec. 19, 2008) - Paragon Pharmacies Limited ("Paragon" or the "Corporation") (TSX VENTURE:PGN) announces the appointment of Mr. Martin Weinberg to its Board of Directors.

Mr. Weinberg, is the President and Senior Managing Director of Canterbury Park and brings extensive private and public company experience, including development and implementation of growth and acquisition strategies in Canada and the United States. Mr. Weinberg was previously the Chairman, President and CEO of Assante Corporation and Loring Ward International which grew from a start up company to be worth in excess of $1 billion.

To maintain the present board size and facilitate the appointment of Mr. Weinberg to the Board, Harold Milavsky has stepped down as a director. Mr. Weinberg was also appointed today as the Chairman of the Board.

"On behalf of the Board and Canterbury Park, I would like to thank Harold for his distinguished service as the Chairman of the Board", said Martin Weinberg, Paragon's new Chairman of the Board. "I am pleased to join the Board and look forward to working with the other Board members and Senior Management to grow Paragon and establish it as a leader in the provision of pharmacy services in the communities in which it operates".

Paragon provides community based pharmacy and health related services through its chain of retail and central fill pharmacies and home healthcare operations in British Columbia, Alberta and Manitoba. The Corporation is headquartered in Kelowna, British Columbia and currently employs over 500 full and part time staff in its stores and offices.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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