Arcadia Resources Announces the Successful Closing of a $5 Million Registered Direct Offering

INDIANAPOLIS, Nov. 4, 2010 /PRNewswire-FirstCall/ — Arcadia Resources, Inc.

(NYSE Amex: KAD), a leading provider of innovative consumer health care services
under the Arcadia HealthCare(SM) brand, today announced that it has completed
the previously announced registered direct offer of 15,625,000 shares of its
newly issued common stock at a price per share of $0.32. Arcadia received net
proceeds from the sale of the shares, after placement agent fees and estimated
offering expenses, of approximately $4.5 million. Arcadia expects to use net
proceeds for corporate purposes, including funding of any working capital needs
and expansion of its pharmacy business.

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The securities were offered through Wilmington Capital Securities, LLC, as
placement agent, by Intrinsic Advisory Group, Inc., and HFP Capital Markets,
LLC, as sub-placement agent.

A shelf registration statement previously filed with the Securities and Exchange
Commission (SEC) relating to the shares of common stock issued in the offering
is effective, and a prospectus supplement relating to the offering was filed
with the SEC on November 1, 2010. Copies of the prospectus supplement and
accompanying prospectus may be obtained directly from the Company by contacting
Arcadia Resources, Inc., 9320 Priority Way West Drive, Indianapolis, IN 46240.
This announcement is neither an offer to sell nor a solicitation of an offer to
buy any of our shares of common stock. No offer, solicitation or sale will be
made in any jurisdiction in which such offer, solicitation or sale is unlawful.

About Arcadia HealthCare

Arcadia HealthCare is a service mark of Arcadia Resources, Inc. (NYSE Amex:
KAD), and is a leading provider of home care, medical staffing and pharmacy
services under its proprietary DailyMed program. The Company, headquartered in
Indianapolis, Indiana, has 65 locations in 18 states. Arcadia HealthCare’s
comprehensive solutions and business strategies support the Company’s vision of
“Keeping People at Home and Healthier Longer.”

Forward Looking Statements

Any statements contained in this release that are not historical facts are
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21A of the Securities Exchange Act of 1934,
as amended and otherwise within the meaning of court opinions construing such
forward-looking statements. The Company claims all safe harbor and other legal
protections provided to it by law for all of its forward-looking statements.
Forward-looking statements are not guarantees of future performance and involve
known and unknown risks, estimates, uncertainties and other factors, which could
cause actual financial or operating results, performances or achievements
expressed or implied by such forward-looking statements not to occur or be
realized, including our estimates of consumer demand for our services and
products, required capital investment, competition, and other factors. Actual
events and results may differ materially from those expressed, implied or
forecasted in forward-looking statements due to a number of factors. Important
factors that could cause actual results, developments and business decisions to
differ materially from forward-looking statements are described in the Company’s
filings with the Securities and Exchange Commission from time to time, including
the section entitled “Risk Factors” and elsewhere in the Company’s most recent
Annual Report on Form 10-K and subsequent periodic reports. Among the factors
that could cause future results to differ materially from those provided in our
press release are: (i) we cannot be certain or our ability to generate
sufficient cash flow to meet our obligations on a timely basis; (ii) we may be
required to make significant business investments that do not produce offsetting
increases in revenue; (iii) we may be unable to execute and implement our growth
strategy; (iv) we may be unable to achieve our targeted performance goals for
our business segments; and (v) other unforeseen events may impact our business.
The forward-looking statements speak only as of the date hereof. The Company
disclaims any obligation to update or alter its forward-looking statements,
except as may be required by law.