Paragon Pharmacies Limited
TSX VENTURE : PGN

Paragon Pharmacies Limited

September 23, 2011 14:14 ET

Paragon Pharmacies Limited Announces Senior Management Change

KELOWNA, BRITISH COLUMBIA--(Marketwire - Sept. 23, 2011) - Paragon Pharmacies Limited (TSX VENTURE:PGN) ("Paragon" or "the Company") today announces Kristal Kaye, Chief Financial Officer will leave the Company effective November 30, 2011.

R. Gordon Gooding, Chief Executive Officer said, "We have an upcoming change to our Management Team. Kristal Kaye will be leaving Paragon in order pursue career options following her forthcoming move to Calgary."

Details of a transition plan relating to this position will be announced in the near future. Paragon Pharmacies thanks Ms. Kaye for all of her efforts and guidance and wishes her the very best in her future endeavors.

Paragon Pharmacies Limited is building a pharmacy with our customers in mind. Headquartered in Kelowna, BC and employing over 400 staff, Paragon currently owns and operates 19 retail pharmacies and three central fill pharmacies throughout British Columbia, Alberta and Manitoba. Paragon is a leading mid-market pharmacy, providing premier pharmacy services in a friendly, community-focused environment. Further Company information is available at the Investor Relations section of Paragon's website at www.helloparagon.com or under the Company's profile on SEDAR at www.sedar.com.

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 sup pliers, 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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