TORONTO, July 10,
2023 /CNW/ - 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
SOURCE Shiny Health & Wellness Corp.