Tribute Pharmaceuticals Announces Acquisition of Markham Based Medical Futures Inc., a Canadian Specialty Pharmaceutical Company

MILTON, ONTARIO–(Marketwired – June 17, 2015) –

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Tribute Pharmaceuticals Canada Inc. (TSX VENTURE:TRX)(OTCQX:TBUFF) (“Tribute” or the “Company”), a specialty pharmaceutical company with a primary focus on the acquisition, licensing, development and promotion of healthcare products in Canada and the U.S., is pleased to announce that it has acquired Medical Futures Inc. (“MFI”) in a transaction valued at $25 million. Financial terms of the deal include the payment of: $8.3 million in cash on closing; $5 million through the issuance of 3,723,008 common shares in the capital of Tribute; and, $5 million in the form of a one year term promissory note bearing interest at 8% annually convertible at MFI’s option at any time during the term into 2,813,778 common shares of Tribute; and future contingent cash milestone payments totaling $6 million based on attainment of certain conditions expected shortly after the close of this transaction. Net Sales of MFI in the twelve month period ended March 31, 2015 were approximately $10 million. This transaction is expected to be immediately accretive. Unless otherwise indicated herein, all references to monetary amounts are in Canadian dollars.

This acquisition further diversifies Tribute’s product portfolio in Canada through the addition of 13 marketed and 2 pipeline products. Highlights of the MFI portfolio include Durela®, Proferrin® and Resultz®.

Source: www.marketwired.com