1. SRX Health canceled an additional 350,000 shares, totaling over 19 million. 2. Cancellation part of a Settlement Agreement with founders of SRx Canada. 3. Company plans to pursue legal remedies against non-settling former officers. 4. The action may improve stockholder value by addressing potential losses.
The significant reduction in shares outstanding could increase value per share, similar to prior stock buybacks enhancing shareholder confidence.
The actions taken may restore investor confidence and influence the stock's demand positively.
Expected immediate positive market reaction due to share cancellation, though long-term effects depend on financial performance.
TAMPA, Fla., Aug. 29, 2025 (GLOBE NEWSWIRE) -- SRx Health Solutions, Inc. (NYSE:SRXH) (the "Company"), a leading global health and wellness company, today announced the cancellation of an additional 350,000 shares, increasing the total number of shares canceled to over 19 million shares of its capital stock. The cancellation was executed under a Settlement, Share Forfeiture and Mutual Release Agreement with certain founders and former officers of its Canadian subsidiary, SRx Health Solutions (Canada), Inc., and related parties.
Under to the Settlement Agreement, certain founders and former officers of SRx Canada have forfeited approximately 19 million exchangeable shares, which were originally issued as part of the Company's acquisition of SRx Canada. In return, the Company agreed to release these parties from specific claims.
The Company intends to explore all available legal remedies against former officers of SRx Canada who are not parties to the Settlement Agreement in order to recover any lost value on behalf of its stockholders.
About SRx Health Solutions, Inc.
SRx Health Solutions Inc. is an integrated Canadian healthcare services provider that operates within the specialty healthcare industry. The SRx network extends across all ten Canadian provinces, making it one of the most accessible providers of comprehensive, integrated, and customized specialty healthcare services in the country. SRx combines years of industry knowledge, technology, and patient-centric focus to create strategies and solutions that consistently exceed client expectations and drive critical patient care initiatives aimed to improve the wellness of Canadians. For more information on SRx Health Solutions Inc., please visit www.srxhealth.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Further information on the Company's risk factors is contained in our filings with the SEC. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Company Contact:
SRx Health Solutions, Inc.
Kent Cunningham, Chief Executive Officer
Investor Contact:
KCSA Strategic Communications
Valter Pinto, Managing Director
T: 212-896-1254
Valter@KCSA.com
