TAMPA, Fla., Jan. 28, 2005 (PRIMEZONE) -- Rx Processing Corporation (Pink Sheets:RXPC) announces today that it has ended the Letter of Intent (LOI) with First Line Pharmacy LTD. Under the terms of the LOI, Rx Processing Corp. and First Line Pharmacy LTD., a Canadian-based Corporation, agreed to merge their operations. Unfortunately, both companies were unable to reach agreeable terms to complete the merger.
Peter Fiorillo, CEO of Rx Processing commented, "This merger would have strategically positioned Rx Processing with an increased customer base of 15,000 clients and added financial strength. Unfortunately, the terms of the merger could not be worked out. It was a pleasure negotiating the proposed merger with President Greg Rudy and the shareholders of First Line Pharmacy and I offer the company a sincere `Thank You' because First line Pharmacy is a respectable company led by fine individuals."
Americans who have no prescription insurance coverage have turned to Rx Processing, which offers FDA-approved American generic and low-cost Canadian brandname drugs. Rx Processing's state-of-the-art technology finds the best prescription drug prices for these customers by sending their prescriptions to licensed pharmacies to be filled. Rx Processing provides access to prescription drugs for the 40 million Americans without prescription drug coverage who spend billions of dollars on their prescription drugs per year.
Rx Processing is rapidly becoming a market leader in providing prescription drugs to U.S. Citizens, corporations, unions, and prescription benefit plans through licensed pharmacies in the United States and Canada. The Company provides access to over 1,500 approved brandname and generic medications ready for distribution in the U.S. market through its Company owned and operated storefront locations and over 130 affiliated storefronts. By utilizing Rx Processing, U.S. citizens can save up to 84% on their daily prescriptions. Ordering these reduced cost medications are available at the Company's affiliate retail storefronts and information about the company can be found at www.rxprocessingcorp.com
Safe Harbor Statement
All statements other than statements of historical fact included in this press release are "forward-looking statements." The forward-looking statements, including statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the Company and factors that are subject to uncertainties, risk and other influences, which are outside the Company's control, and may yield results differing materially from those anticipated.