The Board of Parallax Health Sciences, Inc. (OTCPK:PRLX) announced the spin-off of Roxsan Pharmacy, Inc. on January 3, 2018. Under the transaction, a special dividend distribution of a majority of the outstanding shares of Roxsan Pharmacy common stock will be made to Parallax Health Sciences' shareholders. The special dividend will be made in conjunction with an equity financing into Roxsan Pharmacy currently in negotiation and the exact number of common stock ratio to be distributed will be announced at a later date and distributed to those shareholders of record as of the close of business on March 31, 2018. Registered shareholders will receive cash in lieu of fractional shares. After the separation, Roxsan Pharmacy will become an independent company focused on compounding, prescriptions and infertility drugs, and Parallax will retain no ownership interest. The stock dividend distribution is subject to, among other conditions, a majority of the shareholders of Parallax Health Sciences voting in favor of the transaction. It is anticipated that a proxy solicitation will not be required. Parallax Health Sciences' Board of Directors approved the planned spin-off. The special dividend distribution is expected to be paid on or about April 1, 2018.