Progressive Care Successfully Negotiates Settlement AgreementMIAMI, FL – January 24, 2022 – Progressive Care Inc. (OTCQB:RXMD) (“Progressive Care” or the “Company”), a personalized healthcare services and technology company, today announced that on January 20, 2022 (the “Effective Date”), the Company reached an agreement to settle the Company’s demand (the “Company’s Demand”) on December 14, 2021 against two investors, Chicago Venture Partners, L.P. (“CVP”) and Iliad Research and Trading, L.P. (“Iliad,” and together with CVP, the “Investors”), and the response of the Investors to the Company’s Demand received on January 7, 2022 (the “Investors Demand”) as reflected in a complaint they filed against the Company (the “Settlement Agreement”). The Settlement Agreement contains customary terms and conditions and provides for the following in exchange for a mutual release of the Company and the Investors from all alleged claims.
January 24, 2022