Tillkännagivande • Nov 03
Mednow Announces Notice Received from Secured Creditor Mednow Inc. announced that it has received a notice of default, demand and intention to enforce security from its related secured creditor Alirey Corp. amounting to $3.23 million. Mednow intends to cooperate with secured creditor to facilitate a transitional plan. Tillkännagivande • Oct 24
Mednow Inc. announced that it has received CAD 0.85 million in funding On October 23, 2023 Mednow Inc. closed the transaction. The company has amended the terms of the transaction and received gross proceeds of CAD 850,000. Ali Reyhany, CEO and Co-Founder, invested CAD 850,000 pursuant to the Offering. Tillkännagivande • Sep 20
Mednow Inc. Announces the Execution of Cost Reductions Through the Wind-Down of A Subsidiary Mednow Inc. announced that Infusicare Inc. has permanently ceased ordinary course business operations. Infusicare’s shutdown is part of Mednow’s ongoing efforts to improve its business by, among other things, eliminating underperforming business lines, in accordance with its previous announcements. Mednow has also received a demand letter from a supplier for $1.5 million. Mednow is in continued discussions with the supplier. Tillkännagivande • Sep 05
Mednow Announces Board Member Resignations Mednow Inc. announced that Kia Besharat and Mahdi Shams have stepped down as directors of the company to pursue other opportunities. Tillkännagivande • Aug 03
Mednow Inc. announced that it has received CAD 0.4 million in funding On August 1, 2023, Mednow Inc. closed the transaction. Tillkännagivande • Jul 29
Mednow Inc. announced that it expects to receive CAD 0.4 million in funding Mednow Inc. announced private placement of a secured convertible debenture for gross proceeds of CAD 400,000 on July 28, 2023. The transaction will include participation from Ali Reyhany, the Chief Executive Officer of the company. The debenture will bear interest at a rate of 12.0% per annum and mature 18 months following the date of issuance. The principal amount of the convertible debenture will be convertible into 5,263 units based on a conversion price of CAD 0.30 per unit. Each unit will be comprised of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at a price of CAD 0.38 per common share for a period of 48 months from the date of issuance thereof, subject to applicable policies of the TSX Venture Exchange. The convertible debenture will be convertible at the option of the holder at any time during the period beginning on the later of the four month anniversary of the date of issuance of the convertible debenture; and the date on which the company completes an equity financing with aggregate proceeds to the company of at least CAD 4,000,000, and ending on the maturity date. The debenture will rank senior, secured by all of the assets and property of the company. The debenture to be issued pursuant to the transaction are subject to a statutory hold period of four months from the date of issuance. The transaction remains subject to receipt of TSX Venture Exchange approval and all other necessary regulatory approvals. Reported Earnings • Jul 01
Third quarter 2023 earnings released: CA$0.19 loss per share (vs CA$0.26 loss in 3Q 2022) Third quarter 2023 results: CA$0.19 loss per share (improved from CA$0.26 loss in 3Q 2022). Revenue: CA$12.8m (up 108% from 3Q 2022). Net loss: CA$4.01m (loss narrowed 29% from 3Q 2022). Tillkännagivande • May 17
Mednow Inc. announced that it expects to receive CAD 0.585 million in funding Mednow Inc. announced a non-brokered private placement of up to 2,166,667 units at a price of CAD 0.27 per unit for the gross proceeds of CAD 585,000 on May 15, 2023. The transaction included participation from individual investor, Ali Reyhany for CAD 300,000. The Company paid finder’s fees of $23,400, issued 86,666 finder’s warrants and paid a fiscal advisory fee through the issuance of 86,666 units. Each Finder’s warrant is exercisable to acquire one unit at the unit price for a period of 5 years from the Closing Date. All securities issued pursuant to the Private Placement will be subject to a four-month hold period from the date of issuance. Tillkännagivande • May 16
Mednow Inc. has completed a Composite Units Offering in the amount of CAD 0.525262 million. Mednow Inc. has completed a Composite Units Offering in the amount of CAD 0.525262 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Price\Range: CAD 0.27
Discount Per Security: CAD 0.0216
Security Name: Units
Security Type: Equity/Derivative Unit
Price\Range: CAD 0.27
Discount Per Security: CAD 0.0108 Reported Earnings • Apr 26
Second quarter 2023 earnings released: CA$0.20 loss per share (vs CA$0.26 loss in 2Q 2022) Second quarter 2023 results: CA$0.20 loss per share (improved from CA$0.26 loss in 2Q 2022). Revenue: CA$11.3m (up 466% from 2Q 2022). Net loss: CA$4.20m (loss narrowed 26% from 2Q 2022). Tillkännagivande • Jan 24
Mednow Inc. Supports Expanded Scope of Practice for Ontario Pharmacists Mednow Inc. is supportive of the new expanded scope of practice for Ontario pharmacists. As of January 1st, pharmacists in Ontario are now able to better support patients by assessing and prescribing treatment for 13 minor conditions. These conditions include: hives, cold sores, urinary tract infections and pink eye, among others. These services are available for patients with a valid Ontario health card. There is no out-of-pocket charge for patients as this initiative is publicly funded. The expanded scope of practice for Ontario pharmacists will allow Mednow to expand its virtual care program to include pharmacist-led prescribing. The existing Nurse Practitioner led Mednow Virtual Care service has been issuing prescriptions where appropriate, ordering lab work and making referrals at no cost to Mednow patients. The interdisciplinary and digital first model of patient care has been successful in providing convenient and accessible care to the patients. Pharmacists prescribing for these minor ailments will provide not only improved team based care for the clients, but realizes cost savings in wages and open a new revenue stream into the existing built infrastructure for Mednow, who will be reimbursed under the Ontario Drug Benefits Program for these prescribing services. This new service available at Mednow complements the recently announced pharmacist in-home medication cabinet clean up and medication review program. Mednow believes patients can receive amazing care in limited circumstances and as governments lean more and more on allied healthcare to help the stressed system, Mednow will be at the forefront of this evolution. Minor ailments can often be managed with self-care strategies and minimal treatment or follow-up required. Pharmacists can offer timely services to patients, helping Ontarians avoid wait times. Reported Earnings • Jan 19
First quarter 2023 earnings released First quarter 2023 results: Revenue: CA$9.72m (up CA$9.15m from 1Q 2022). Net loss: CA$4.52m (loss widened 1.9% from 1Q 2022). Tillkännagivande • Jan 18
Mednow Inc. Expands Suite of Services Mednow Inc. has expanded its suite of services to its at-home Medvisit and other patients. Medvisit's expanded suite of services includes an at-home medication review program for patients who are not physically able to attend a community pharmacy. The addition of the at-home medication review program, conducted by team of licensed traveling pharmacists, allows the physician who will see the patient afterwards to focus on treating the patient and not on performing a medication history. Pharmacists are experts in drug therapy and can help as part of the medical team to make processes more efficient. The service is covered for eligible and consenting patients by the Ontario Drug Benefits Program. It is an example of non-dispensing related revenue available to pharmacies in Canada's largest province. Medvisit is Canada's largest and longest standing doctor house call service, having been in operation for over 30 years. Medvisit conducts approximately 30,000 patient home visits per year and has served over 400,000 patients since inception. Patients that are unable to leave their home rely on over 100 doctors in the Medvisit network for the treatment of acute and episodic illness and injury. The combination of pharmacy and doctor home visits through the Mednow platform has created synergies that greatly benefit patients. By offering a comprehensive review of their medications and treatment plan prior to in-home medication visits, Mednow and Medvisit are able to provide the highest level of care at the forefront of chronic disease management. Through the Medvisit patient network, Mednow is well positioned to offer a full platform of services to a large subset of patients that can benefit greatly from a full suite of digital healthcare and delivery services. Mednow is focused on improving delivery of pharmacy services in Canada through digitization to provide better patient access to pharmacists, doctors and other healthcare professionals. Mednow offers instant access to pharmacists in the Mednow app (Apple | Android | web browser) or on the phone (1-855-MEDNOW-1) and offers fast, free delivery of prescription medication to patients across Canada. Reported Earnings • Dec 01
Full year 2022 earnings released: CA$1.37 loss per share (vs CA$0.49 loss in FY 2021) Full year 2022 results: CA$1.37 loss per share (further deteriorated from CA$0.49 loss in FY 2021). Revenue: CA$16.6m (up CA$16.2m from FY 2021). Net loss: CA$29.6m (loss widened 230% from FY 2021). Reported Earnings • Jun 16
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: CA$6.14m (up CA$6.01m from 3Q 2021). Net loss: CA$5.66m (loss widened 159% from 3Q 2021). Tillkännagivande • Apr 27
Mednow Inc. Provides Earnings Guidance for the Third Quarter of Fiscal Year Ending April 30, 2022 Mednow Inc. provided earnings guidance for the third quarter of fiscal year ending April 30, 2022. For the quarter, Company expects revenue of $5 million to $5.5 million. Tillkännagivande • Apr 16
Mednow Inc., Annual General Meeting, Jun 07, 2022 Mednow Inc., Annual General Meeting, Jun 07, 2022. Location: 10th Floor, 595 Howe Street, BC V6C Vancouver Canada Tillkännagivande • Apr 03
Mednow Inc. (TSXV:MNOW) completed the acquisition of Mednow East Inc. from Amir Ali Reyhany-Bozorg, Felipe Campusano and Karim Nassar and others. Mednow Inc. (TSXV:MNOW) entered into a share purchase agreement to acquire Mednow East Inc. for CAD 1.4 million from Amir Ali Reyhany-Bozorg, Felipe Campusano and Karim Nassar and others on March 4, 2022. Mednow Inc. shall acquire all of the issued and outstanding shares of Mednow East, in consideration for an aggregate cash payment of approximately CAD 65,578 and the Company’s agreement to convert approximately CAD 1,374,422 owed by Mednow East to the Mednow Inc. into a non-interest bearing on-demand convertible promissory note and the Note can be satisfied by the payment of cash or the issuance of 2,095 Class A Special Shares of Mednow East at a deemed price of $655.78 per share. Upon closing of the Share Purchase Agreement, Mednow East’s revenue and expenses will be consolidated with those of Mednow and the Pharmacy Agreement between the two parties will be terminated. The debt of approximately CAD 1,374,422 extended to Mednow East by the Company was used to fund Mednow East’s working capital and provide support for its operations. The Transaction is subject to corporate and regulatory approvals, including TSX Venture Exchange approval.
Mednow Inc. (TSXV:MNOW) completed the acquisition of Mednow East Inc. from Amir Ali Reyhany-Bozorg, Felipe Campusano and Karim Nassar and others on April 1, 2022. Tillkännagivande • Feb 25
Mednow Inc. Provides Earnings Guidance for the Years of 2022 and 2023 Mednow Inc. provided earnings guidance for the years of 2022 and 2023. For the calendar year 2022, revenue is forecasted to range between CAD 42.5 million to CAD 47.5 million. Revenue for 2023 is forecasted to range between CAD 105 million to CAD 110 million. Tillkännagivande • Feb 24
Mednow Inc. (TSXV:MNOW) completed the acquisition of Liver Care Canada Inc. Mednow Inc. (TSXV:MNOW) entered into an agreement to acquire Liver Care Canada Inc. for CAD 0.07 million on December 20, 2021. In a related transaction, Mednow entered into an agreement to acquire London Pharmacare. Under the agreement, Mednow will acquire Liver Care for an initial cash payment of CAD 0.07 million and two subsequent earnout payments in the amount of 0.1x of the revenue generated by Liver Care in each of its 2022 and 2023 financial years. The Transaction is subject to corporate and regulatory approvals, including TSX Venture Exchange approval.
Mednow Inc. (TSXV:MNOW) completed the acquisition of Liver Care Canada Inc. on February 23, 2022. Tillkännagivande • Dec 23
Mednow Inc. (TSXV:MNOW) entered into a share purchase agreement to acquire London Pharmacare Inc. from Felipe Campusano and others for CAD 0.59 million. Mednow Inc. (TSXV:MNOW) entered into a share purchase agreement to acquire London Pharmacare Inc. from Felipe Campusano and others for CAD 0.59 million on December 20, 2021. The consideration includes an initial cash payment of CAD 0.59 million and two subsequent earn-out payments in the amount of 0.1x of the revenue generated by London Pharmacare in each of its 2022 and 2023 financial years. In a related transaction, Mednow entered into an agreement to acquire Liver Care Canada Inc. for CAD 0.07 million. In the last fiscal year, London Pharmacare and Liver Care Canada generated approximately an aggregate of CAD 21.3 million in revenue and CAD 2.1 million in gross profits from selling prescription medications and diagnostic services to its patients. The transaction is subject to corporate and regulatory approvals, including TSX Venture Exchange approval. Tillkännagivande • Dec 22
Mednow Inc. (TSXV:MNOW) entered into an agreement to acquire Liver Care Canada Inc. for CAD 0.07 million. Mednow Inc. (TSXV:MNOW) entered into an agreement to acquire Liver Care Canada Inc. for CAD 0.07 million on December 20, 2021. In a related transaction, Mednow entered into an agreement to acquire London Pharmacare. Under the agreement, Mednow will acquire Liver Care for an initial cash payment of CAD 0.07 million and two subsequent earnout payments in the amount of 0.1x of the revenue generated by Liver Care in each of its 2022 and 2023 financial years. The Transaction is subject to corporate and regulatory approvals, including TSX Venture Exchange approval. Tillkännagivande • Dec 14
Mednow Inc. (TSXV:MNOW) completed the acquisition of Infusicare Canada Inc. from Amir Ali Reyany-Bozorg, Felipe Campusano and others for CAD 1.9 million. Mednow Inc. (TSXV:MNOW) entered into an agreement to acquire Infusicare Canada Inc. from Amir Ali Reyany-Bozorg, Felipe Campusano and others for CAD 1.9 million on November 18, 2021. The consideration will be paid in cash. Infusicare Canada generated revenues of CAD 9.3 million in fiscal year 2020. The transaction is subject to corporate and regulatory approvals, including TSX Venture Exchange approval.
Mednow Inc. (TSXV:MNOW) completed the acquisition of Infusicare Canada Inc. from Amir Ali Reyany-Bozorg, Felipe Campusano and others on December 13, 2021. Tillkännagivande • Sep 24
Mednow Inc. (TSXV:MNOW) entered into a share purchase agreement to acquire Mednow Pharmacy Inc. from Amir Ali Reyhany-Bozorg, Karim Nassar and Felipe Campusano for CAD 0.074 million. Mednow Inc. (TSXV:MNOW) entered into a share purchase agreement to acquire Mednow Pharmacy Inc. from Amir Ali Reyhany-Bozorg, Karim Nassar and Felipe Campusano for CAD 0.074 million on September 22, 2021. As part of consideration, Mednow Inc. will pay CAD 0.074 million in cash. Post-acquisition, Mednow will own 100% of Mednow Pharmacy Inc. The transaction is subject to corporate and regulatory approvals, including TSX Venture Exchange approval. Tillkännagivande • Aug 08
Mednow Inc. (TSXV:MNOW) acquired 2716725 Ontario Inc. for CAD 2 million. Mednow Inc. (TSXV:MNOW) acquired 2716725 Ontario Inc. for CAD 2 million on August 6, 2021. Under the terms of transaction, Mednow will pay CAD 1.32 million in cash upon closing and a conditional earn-out of up to CAD 0.68 million subject to profitability milestones. In latest fiscal year, Medvisit earned revenue of approximately CAD 3 million and a gross profit of approximately CAD 0.79 million.
Mednow Inc. (TSXV:MNOW) completed the acquisition of 2716725 Ontario Inc. on August 6, 2021. Executive Departure • Jun 10
Chief Financial Officer Joshua Lebovic has left the company During their tenure, earnings grew by 609% annually compared to the industry average of 117%. We don't have any record of a personal shareholding under Joshua's name. Joshua is the only executive to leave the company over the last 12 months. Tillkännagivande • Mar 21
Mednow Inc. Appoints Carey Lai as Director of Pharmacy Operations Mednow Inc. announced a significant operational milestone in advancing its national expansion strategy. Mednow has filed an application for a pharmacy license with the Manitoba College of Pharmacists through a wholly-owned subsidiary, Mednow Pharmacy MB Ltd. Upon successful application, this wholly-owned entity will be a licensed pharmacy that will be regulated by Manitoba College of Pharmacists as well as provincial and federal regulatory bodies with oversight of pharmacy practices. In conjunction with this application, the Company has appointed Carey Lai as Director of Pharmacy Operations for Manitoba and Saskatchewan. Mr. Lai has over 15 years’ experience in pharmacy operations. 