PGN Pgnx Capital Corporation

Paragon Pharmacies Limited ("Paragon" or the "Company") (TSX VENTURE:PGN) today
announced that Ms. Lorraine McGrath, President, has resigned effective
immediately and that Mr. Denis Taillieu has been appointed as the acting CEO of
the Company. Mr. Taillieu is currently the interim CFO of the Company. The Board
of Directors have initiated a process to recruit a CEO. The Board also announced
that Ms. Kristal Kaye, CGA, Director of Finance and Administration, is
responsible for accounting and finance.


Mr. Martin Weinberg, Chairman of the Board of Directors, noted that progress had
been made in operational improvements over the last few months. The Company now
needs to embark on increasing its revenues. As such, the Board is now seeking to
recruit a CEO with a strong retail and merchandising background. "With the
improvements made over the last several months, we believe now is the time to
refocus the organization on revenue growth. The pharmacy industry is facing
significant regulatory change and pharmacy retail is becoming increasingly
competitive. We are confident that the progress made to date by the management
team will continue under the direction of Mr. Denis Taillieu."


The Company also announced that it has renewed the advisory services agreement
with Canterbury Park Management Inc. ("Canterbury") effective May 2009 for an
indefinite term. This agreement, together with the Supplemental Advisory
Agreement entered into with the Company as part of the terms of the conversion
of the debenture in November 2008, allows the Company access to various advisory
services including services of Canterbury executives. The Advisory Agreement
provides for a maximum annual fee of $200,000. The Agreement is terminable by
the Company on 60 days notice and by Canterbury on ten business days notice,
after the earlier of November 30, 2009 or the appointment of a CEO. The
Supplemental Advisory Agreement expires the month following the appointment of a
permanent CEO. Canterbury has advised that the fee of $25,000 per month set out
in the Supplemental Advisory Agreement will apply commencing July 1, 2009.


Paragon Pharmacies is building a pharmacy with our customers in mind.
Headquartered in Kelowna, BC and currently employing over 400 staff, Paragon
currently owns and operates 18 retail pharmacies and three central fill
pharmacies throughout British Columbia, Alberta and Manitoba. Paragon is a
leading mid-market pharmacy, providing premier pharmacy services in a friendly,
community-focused environment.


FORWARD LOOKING STATEMENTS

This press release contains forward-looking statements regarding, among other
things, the Company's beliefs, plans, objectives, strategies, estimates,
intentions and expectations, including as they relate to its operating and
financial results, capital expenditures and the ability to execute on its
operating, investing and financing strategies. Consequently, actual results and
events may differ materially from those included in, contemplated or implied by
such forward looking statements for a variety of reasons. Forward-looking
statements are subject to inherent risks and uncertainties including, but not
limited to, market and general economic conditions, certain property and
casualty risks, the ability to attract and retain pharmacists, the availability
and terms of financing, changes in the Company's relationship with its key
suppliers, competitive factors, changes in regulatory environments affecting the
Company's business, and the accuracy in management's assumptions (see "RISKS AND
RISK MANAGEMENT" as noted in the Company's Management's Discussion & Analysis
posted on SEDAR at www.sedar.com). This list is not exhaustive of the factors
that may affect any of the Company's forward-looking statements. Investors and
others should carefully consider these and other factors and not place undue
reliance on these forward-looking statements. In addition, these forward-looking
statements relate to the date on which they were made and the Company disclaims
and has no intention or obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or otherwise.

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