MIAMI, Aug. 09, 2018 (GLOBE NEWSWIRE) -- Progressive Care Inc. (OTCQB: RXMD), a personalized healthcare services and technology company, today announced that it has paid off its convertible note to Chicago Venture Partners through an issuance of common stock.
Progressive Care drew down a tranche against the Chicago Venture note in the amount of $636,304 on February 15, 2018. The issuance of 1,974,279 shares of Progressive Care stock on August 8, 2018 brings the company to a balance of zero and the total number of issued shares to 15,503,604.
The company has been working to pay down its liabilities while continuing to increase revenues and bring increased value to its shareholders.
“We have a long-standing relationship with Chicago Venture Partners and they have played an instrumental role in allowing Progressive Care to move forward with its expansion plans,” said S. Parikh Mars, CEO of Progressive Care. “Being able to pay off this convertible note is an exciting milestone for the company, as we can now shift our entire focus to accelerating our expansion plans.”
Progressive Care recently announced its plans to host a conference call for its investors on Tuesday, Aug. 14, 2018, at 4:30 pm ET to discuss financial results for the second quarter of 2018. The company also plans to provide an update on the company’s recent progress and upcoming milestones.
For more information about Progressive Care, please visit the company’s website.
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About Progressive Care Inc.
Progressive Care Inc. (OTCQB: RXMD), through its PharmCo, LLC, is a South Florida health services organization and provider of prescription pharmaceuticals, compounded medications, provider of tele-pharmacy services, the sale of anti-retroviral medications, medication therapy management (MTM), the supply of prescription medications to long term care facilities, and health practice risk management.
