KELOWNA, BRITISH COLUMBIA--(Marketwire - Sept. 15, 2008) - Paragon Pharmacies Limited ("Paragon") (TSX VENTURE:PGN) today announced that an extension to October 3, 2008 has been reached with Canterbury Park Capital LP and Canterbury Park Capital (US) LP to close the previously announced equity conversion.

Paragon is headquartered in Kelowna, British Columbia and currently employs over 500 full and part time staff in its stores and offices. The Corporation owns and operates 17.5 retail pharmacies, 3 central fill locations and 2 home healthcare stores in British Columbia, Alberta and Manitoba.

FOR FURTHER INFORMATION PLEASE CONTACT:

Paragon Pharmacies Limited
Craig Cameron
President & CEO
(250) 491-3936
(250) 491-3950 (FAX)
Email: craig.cameron@paragonpharmacies.com
Website: www.paragonpharmacies.com

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