TORONTO –
Shiny Health & Wellness Corp. (“Shiny Health” or the “Company”) (TSXV: SNYB), announces Shiny Bud Inc. a subsidiary of Shiny Health, reports an Asset Purchase Agreement with One Plant (Retail) Corp. for 2 stores and the appointment of Meris Kott to the Board of Directors.
Company Update
Shiny Health is closing Q2 in a positive direction as it has reduced corporate overhead during the quarter by nearly 60% and maintains its gross margin position as one of the market leading chains in Ontario.
Shiny Bud Inc. a subsidiary of Shiny Health, announces an asset purchase agreement with One Plant (Retail) Corp. (“OP”) that provides for the sale of two of their retail locations, Stoney Creek (a mīhī-branded cannabis retail store) and Rockland; with a proposed closing date of July 31, 2023, and only following OP’s receipt of their Alcohol Gaming Commission of Ontario (“AGCO”) approvals. The estimated total purchase price is CAD $1,200,000 subject to customary adjustments.
Corporate Update
Meris Kott has been appointed as a Director to the board of Shiny Heath & Wellness Corp.; the Company now has 2 women board Directors. Meris’ background for over 30 years has been in investment banking and financial consultancy and she has always been one of the very few women in the C-suite of each project.
Meris is currently the CEO of Global Wellness Strategies Inc. (CSE: GWS) a wellness prospect generator with its’ focus on global wellness, psychedelics, mycology, hemp and CBD, healthcare-related target companies. She is a speaker at conferences focused in the wellness, cannabis and psychedelic sectors. She supports women in business and mentors young women to strive for executive and board positions whenever possible. Meris has a degree in Economics from McGill University in Montreal.
“I am humbled to join the board with such esteemed directors. In my experiences, women approach fast-growing startup situations with a broad skillset. From my vantage point, Shiny Health has a diversified retail platform strategy with dispensaries and pharmacies, a formidable team with a proven QSR track record, a strong licensee program, plus new funding partners; Shiny Health & Wellness can be considered a dark horse in the cannabis sector.” said Meris Kott.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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 recently broadened its retail growth strategy beyond adult-use cannabis by establishing mīhī Health & Wellness, a new line of business focused on building a network of community pharmacies, with its first pharmacy in Cornwall, Ontario. Striving to provide a more diverse and accessible cannabis experience for adult consumers, the Company also operates ShinyBud Cannabis Co., a well-established brand in Ontario strategically located in markets less saturated with cannabis retailers. The Company’s board of directors and management team hold extensive retail operating experience, a key competitive differentiator in leading its growth strategy. Shiny Health trades on the TSX Venture Exchange (TSXV) under the ticker symbol SNYB. For more information, please visit www.shinyhealthandwellness.com.
