Forward-looking information and statements

This website contains forward-looking information and statements which constitute “forward-looking information” under Canadian securities law and which may be material, regarding, among other things, the Company’s beliefs, plans, objectives, estimates, intentions and expectations.  Forward-looking information and statements are typically identified by words such as “anticipate”, “believe”, "forsee", “expect”, “estimate”, “forecast”, “goal”, “intend”, “plan”, "seek", "strive", “will”, “may”, “should”, “could” and similar expressions.  Specific forward-looking information in this website includes, but is not limited to, statements with respect to the Company’s future liquidity and the ability to execute on its future operating, investing and financing strategies.

This website also contains forward-looking information and statements concerning the expected completion date of the acquisition of the Company by Loblaw (the "Acquisition").  There can be no assurance that the Acquisition will occur or that the anticipated strategic benefits and operational, competitive and cost synergies will be realized.  The Acquisition is subject to various regulatory approvals, including approvals under the Competition Act (Canada) and by the Toronto Stock Exchange, and the fulfillment of certain conditions, and there can be no assurance that any such approvals will be obtained and/or any such conditions will be met.  The Acquisition could be modified, restructured or terminated.

The forward-looking information and statements contained herein reflect the Company’s current estimates, beliefs and assumptions, which are based on management’s perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate in the circumstances, including but not limited to, assumptions regarding: revenue growth and operating efficiencies; the absence of an adverse event or condition that damages the Company’s strong brand position and reputation; the absence of a material increase in competition; there being no significant change in the Company’s ability to comply with current or future regulatory requirements; and generally stable economic and financial conditions in Canada and globally.  Inherent in the forward-looking information and statements are known and unknown risks, uncertainties and other factors beyond the Company’s ability to control or predict, which give rise to the possibility that the Company’s predictions, forecasts, expectations or conclusions will not prove to be accurate, that its assumptions may not be correct and that the Company’s plans, objectives and statements will not be achieved.  Actual results or developments may differ materially from those contemplated by the forward-looking information and statements.

The material risk factors that could cause actual results to differ materially from the estimates, beliefs and assumptions expressed or implied in the forward-looking information and statements contained herein include, without limitation:  the risk of adverse changes to laws and regulations relating to prescription drugs and their sale, including pharmacy reimbursement programs, prescription drug pricing and the availability of manufacturer allowances, or changes to such laws and regulations that increase compliance costs; the risk that the Company will be unable to implement successful strategies to manage the impact of the drug system reform initiatives implemented or proposed in most provincial jurisdictions; the risk of adverse changes in economic and financial conditions in Canada and globally; the risk of increased competition from other retailers or non-traditional retail channels for distribution of prescription drugs; the risk of an inability of the Company to manage growth and maintain its profitability; the risk of exposure to fluctuations in interest rates; the risk of material adverse changes in foreign currency exchange rates; the risk of an inability to attract and retain pharmacists and key employees or effectively manage succession planning; the risk of an inability of the Company’s information technology systems to support the requirements of the Company’s business; the risk of changes to estimated contributions of the Company in respect of its pension plans or post-employment benefit plans which may adversely impact the Company’s financial performance; the risk of changes to the relationships of the Company with third-party service providers; the risk that the Company will not be able to lease or obtain suitable store locations on economically favourable terms; the risk of adverse changes to the Company’s results of operations due to seasonal fluctuations; the risk of an inability of the Company to respond to changing consumer preferences that may result in excess inventory, inventory levels that are insufficient to meet demand or inventory obsolescence; risks associated with alternative arrangements for sourcing generic drug products, including intellectual property and product liability risks; the risk that new, or changes to current, federal and provincial laws, rules and regulations, including environmental and privacy laws, rules and regulations, may adversely impact the Company’s business and operations; the risk that violations of law, breaches of Company policies or unethical behaviour may adversely impact the Company’s financial performance; property and casualty risks; the risk of injuries at the workplace or health issues; the risk that changes in tax law, or changes in the way that tax law is expected to be interpreted, may adversely impact the Company’s business and operations; the risk that new, or changes to existing, accounting pronouncements may adversely impact the Company; the risks associated with the performance of the Associate-owned store network; the risk of material adverse effects arising as a result of litigation; the risk of damage to the reputation of brands promoted by the Company, or to the reputation of any supplier or manufacturer of these brands; product quality and product safety risks which could expose the Company to product liability claims and negative publicity; the risk that events or a series of events may cause business interruptions; and the risk of disruptions to the Company’s distribution operations or supply chain which could affect the cost, timely delivery and availability of merchandise.


This is not an exhaustive list of the factors that may affect any of the Company’s forward-looking information and statements.  Investors and others should carefully consider these and other risk factors and not place undue reliance on the forward-looking information and statements.  Further information regarding these and other factors is included in the Company’s public filings with provincial securities regulatory authorities including, without limitation, the sections entitled “Risks and Risk Management” and “Risks Associated with Financial Instruments” in the Company’s Management’s Discussion and Analysis for the 52 week period ended December 29, 2012, for the 12 week period ended March 23, 2013, for the 12 and 24 week periods ended June 15, 2013 and for the 16 and 40 week periods ended October 5, 2013, and the section entitled "Risks Relating to the Arrangement and the Combined Company" in the Management Proxy Circular dated August 12, 2013 for the special meeting of Company shareholders that approved the Arrangement.  The forward-looking information and statements contained in this website represent the Company’s views at the time the documents were prepared.  While the Company anticipates that subsequent events and developments may cause the Company’s views to change, the Company does not undertake to update any forward-looking information and statements, except to the extent required by applicable securities laws.

Additional information about the Company, including the Annual Information Form, can be found at www.sedar.com.

Last updated February 6, 2014