Subject: RXMD Management Moves Highlight a Company with Aggressive Growth and Expansion Goals

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RXMD Management Moves Highlight a Company with Aggressive Growth and Expansion Goals
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Company: Progressive Care Inc. (OTCQB: RXMD)


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Progressive Care Ends Agreement with Boustead Securities

MIAMI, Jan. 23, 2018 (GLOBE NEWSWIRE) - Progressive Care Inc. (OTCQB:RXMD), through its subsidiaries Smart Medical Alliance, Inc. and PharmCo, LLC, is a South Florida health services organization and provider of prescription pharmaceuticals, compounded medications, the sale of anti-retroviral medications, medication therapy management (MTM), the supply of prescription medications to long term care facilities, administration and practice management, utilization management, quality assurance, EHR Implementation, billing and coding, and health practice risk management, announces that us has terminated its placement agent agreement with Boustead Securities.

On January 22, 2018, Progressive Care provided notice to Boustead Securities to terminate its placement agent agreement. This notice was submitted as a result of a lack of progress to secure funding for M&A opportunities. The Company believes that in order to facilitate its growth objectives, it must establish a relationship that has better alignment with its goals. The Company is now seeking a new firm that will be able to find a strategic M&A opportunity that will act as the vehicle for listing on NASDAQ.

“Boustead Securities is an impressive firm with many notable achievements,” stated S. Parikh Mars, CEO. “However, we feel that now is the right time aggressively pursue our growth an expansion objectives and to start fresh with a new securities firm. We wish Boustead Securities and its principles the best of luck and hope that our paths continue to cross.”

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