TORONTO – Shiny Health & Wellness Corp. (TSXV: SNYB) appoints Toronto Executive Jonathan Hemi to the Board of Directors; expands ShinyBud licensee program, and announces an Asset Purchase deal with One Plant (Retail) Corp.
Corporate Update
The Company welcomes executive Jonathan Hemi as a Director to the board of Shiny Heath & Wellness Corp. Jonathan is strategic, entrepreneurial and has a proven track record of successfully running small and medium sized businesses, and building their brands globally. He is currently the managing partner at Globefill Inc. (the makers of Crystal head Vodka), founder and owner of Signal Hill Spirits Inc. and owner of several businesses. With 28 years in the beverage alcohol industry Jonathan is currently responsible for the manufacturing, brand building and global distribution of several alcohol beverage brands.
ShinyBud Inc. a subsidiary of Shiny Health, announces an asset purchase deal with One Plant (Retail) Corp. that provides for the sale of one of their retail locations, College Square (a mīhī-branded cannabis retail store) and the estimated purchase price is CAD $600,000. The proceeds will be allocated towards debt reduction.
Licensees Expansion
The Company has decided to expand the partner program offering multiple ShinyBud licensee tiers. Presently, ShinyBud has executed 19 trademark license agreements with 17 already operating stores and 2 more in the pipeline readying to open, plus 1 negotiating a lease, which will be our very first in downtown GTA. All the ShinyBud-branded locations are located in Ontario and are owned and operated by third parties pursuant to non-exclusive, revocable license agreements. The licensee expansion program has begun by offering a 50-50 licensee partnership with current adult use cannabis store owners who wish to lower and divide their operating costs and their lease, or individuals looking to jump into the exciting sector who do not have the capital to begin operations without a partner. The Company will also continue to offer trademark license agreements requiring payment to ShinyBud of a monthly royalty fee of gross sales, either 1% and 5% depending on approved qualifications. The new differentiated expansion to a multi-tier licensee program provides ShinyBud with a tangible edge over the competition in Ontario. If interested kindly contact the Company directly for more details and come join us at ShinyBud.
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About Shiny Health & Wellness
Shiny Health & Wellness Corp. is on a mission to help people never settle, live fully by being a trusted source for health and wellness solutions and services. The Company operates ShinyBud Cannabis Co., a well-established brand of adult-use dispensaries in Ontario strategically located in markets less saturated with cannabis retailers.
Shiny Health trades on the TSX Venture Exchange (TSXV) under the ticker symbol SNYB. For more information, please visit www.shinyhealthandwellness.com.
