Paragon Pharmacies Limited
TSX VENTURE : PGN

Paragon Pharmacies Limited

June 10, 2009 17:00 ET

Paragon Pharmacies Limited Announces Departure of President of Store Operations

KELOWNA, BRITISH COLUMBIA--(Marketwire - June 10, 2009) - The Board of Directors of Paragon Pharmacies Limited (TSX VENTURE:PGN) ("Paragon") announced today that the Board has asked for and received Ron Lane's resignation from Paragon.

At this time, Paragon does not expect to hire a replacement, and Mr. Lane's responsibilities will be assumed by various members of the management team.

Paragon is headquartered in Kelowna, British Columbia and currently employs over 450 full and part time staff in its stores and offices. The Corporation owns and operates 18.5 retail pharmacies, three central fill pharmacies and one home healthcare operation in British Columbia, Alberta and Manitoba. Paragon prides itself in providing a friendly neighbourhood pharmacy experience of comprehensive health care solutions.

FORWARD LOOKING STATEMENTS

This press release may contain 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 availability 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.

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

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