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Assured Pharmacy, Inc. Receives Gross Proceeds of $200,000 from Sale of Convertible Debentures and Warrants

FRISCO, Texas, May 23, 2011 /PRNewswire/ -- Assured Pharmacy, Inc. (Pink Sheets: APHY, the "Company"), a growing chain of specialty pharmacies that provide advanced prescription services to a diverse array of medical professionals and their patients, announced today that it sold in a private placement to an accredited investor a 16.0% senior convertible debenture for an aggregate principal amount of $500,000 (includes the rollover of an existing convertible debenture in the aggregate principal amount of $300,000 issued to the investor in a previous private placement). The gross cash proceeds from the private placement were $200,000 (before deducting expenses and fees related to the private placement). The debenture is convertible into shares of the Company's common stock at an initial conversion price of $1.26 per share, subject to adjustment. As part of the private placement, the investor received a warrant to purchase 476,191 common shares (includes previously issued warrants to purchase 250,000 common shares of the Company's common stock forfeited by investor) of the Company's common stock. The warrant is exercisable for a period of three years from the date of issuance at an initial exercise price of $1.51, subject to adjustment. The investor may exercise the warrant on a cashless basis if the shares of common stock underlying the Warrant are not then registered pursuant to an effective registration statement. The funds received from the investor will be directed to the continued development of the Company's business plan and general working capital purposes.

This financing is supporting the Company's ongoing business expansion and investment into solidifying its supply chain of prescription medications. "We are very pleased to have the support of this investment as we enter the next phase of our business model," stated Mr. Robert DelVecchio, Chief Executive Officer of Assured Pharmacy. "As we lay the foundation for expanding our pharmacy footprint into new markets, improving our financial position with suppliers is critical and this financing furthers that requirement."

The securities sold by the Company in the private placement were not registered under the Securities Act of 1933, as amended (the "Securities Act"), and were sold in reliance upon exemptions from the registration requirements of the Securities Act pursuant to Regulation D promulgated under the Securities Act. Therefore, such securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

The foregoing information is a summary of the transaction described above, is not complete, and is qualified in its entirety by reference to a more detailed description of the financing and the full text of the agreements, each of which will be available on the Company's web site at Readers should review the detailed description of the offering along with the agreements for a complete understanding of the terms and conditions associated with this financing transaction.

About Assured Pharmacy, Inc.

Assured Pharmacy, Inc. is engaged in the business of operating specialty pharmacies that primarily dispense highly regulated pain medication. The Company derives its revenue primarily from the sale of prescription drugs and does not keep in inventory non-prescription drugs or health and beauty related products inventoried at traditional pharmacies. The majority of the Company's business is derived from repeat business from its customers. "Walk-in" prescriptions from physicians are limited. The Company currently has four operating pharmacies.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: the Company's ability to increase revenue and profits in the current economic climate; the effect of changing economic conditions; lack of sufficient financing for opening new pharmacies; inability to manage growth; and changes in government regulations, controls and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company's disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", "projects", "should", or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. The Company does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Contact:

Mr. Robert DelVecchio
Chief Executive Officer
Assured Pharmacy, Inc.
(214) 220-9302

SOURCE Assured Pharmacy, Inc.
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