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MIAMI, FL--(Marketwired - July 28, 2016) - Progressive Care Inc. (OTC PINK: RXMD), through its subsidiary Pharmco LLC, a South Florida health services organization and provider of prescription pharmaceuticals specializing in health practice risk management, compounded medications, the sale of anti-retroviral medications and related medication therapy management, and the supply of prescription medications to long term care facilities, issues an update on the status of building permits.
As of July 28th, PharmCo, LLC has cleared all requirements of the County of Miami-Dade. The final approval process has begun with the City of North Miami Beach. The Company expects to receive approval and issued building permits in the coming days.
On July 25th
, Progressive Care received its first tranche of $250,000 from Chicago Venture Partners. The Company intends to use these funds primarily for the build-out of the warehouse space as well as general working capital to further growth and development of the Company.
"We are pleased to be on the cusp of receiving our building permits," stated S. Parikh Mars, CEO. "The expansion into the warehouse space is a necessary next step to achieving significant growth in a number of areas including compounding and long term care sales. We are excited that with the conclusion of the building process we will be able to install our automation system and ramp up sales across the board."
About Progressive Care
Progressive Care, Inc. (OTC PINK: RXMD), through its subsidiary PharmCo, LLC, is a South Florida health services organization and provider of prescription pharmaceuticals specializing in health practice risk management, compounded medications, the sale of anti-retroviral medications and related medication therapy management, and the supply of prescription medications to long term care facilities.
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.NEXT ARTICLE
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