TORONTO, March 21, 2022 /CNW/ - ShinyBud Corp. ("ShinyBud" or the "Company") (TSXV: SNYB) is pleased to announce the official launch of its ShinyBuddy Club customer loyalty program (the "Club") across its network of 41 stores(1) in Ontario. The Club is a point-based loyalty system that allows members to earn a point for every dollar spent at any of the Company's multi-banner locations. Loyalty points are redeemable for dollars towards future purchases from the Company's wide range of award-winning Canadian cannabis products. Club members are also granted exclusive benefits and access to limited edition items, private events, and special giveaways. Through its special incentives, the Club is expected to improve the ShinyBud brand experience, strengthen customer loyalty, and drive product sales.
"Launching ShinyBud's loyalty program is both an exciting milestone and a key business initiative for the Company," said Kevin Reed, Chairman and Chief Executive Officer. "The Club allows us to engage customers, reward customer loyalty, and drive customer retention. In addition, we will be able to leverage the member purchase data to better understand our shoppers and their product preferences. Loyalty programs typically drive sales as members have bigger baskets and an increased frequency of customer visits."
The no-cost Club also provides members with the opportunity to earn extra points for referrals and special events, such as birthdays and promotions.
The proprietary consumer data collected through the loyalty platform will provide the Company with valuable insight into customer purchase decisions and targeted marketing channels to age-verified cannabis users. The loyalty platform will be powered by Alpine IQ, a best-in-class marketing, loyalty, and data analytics software system with a specialized focus on the cannabis industry and provincial promotion compliance.
Interested parties can join the ShinyBuddy Club and learn more about how to collect and redeem points at www.shinybud.com/loyalty or in store. Early bird members who join before May 1st, 2022 will receive 100 welcome bonus points.
Endnotes
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1)
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Includes 29 corporate stores and 12 licensed stores. ShinyBud does not realize material revenue or cash flows from licensed stores.
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Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking information generally refers to information about an issuer's business, capital, or operations that is prospective in nature, and includes future-oriented financial information about the issuer's prospective financial performance or financial position. The forward-looking information in this news release includes disclosure about expectations for the ShinyBuddy Club loyalty program. The Company, has made certain material assumptions, including but not limited to: prevailing market conditions; general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the ability of ShinyBud to execute and achieve its business objectives, and the success of the ShinyBuddy Club loyalty program to develop the forward-looking information in this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Actual results may vary from the forward-looking information in this news release due to certain material risk factors. These risk factors include, but are not limited to: adverse market conditions; or at all; reliance on key and qualified personnel; regulatory and other risks associated with the cannabis industry in general, as well as those risk factors discussed or referred to in disclosure documents filed by the Company with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. The foregoing list of material risk factors and assumptions is not exhaustive. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this news release is made as of the date of this news release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
About ShinyBud
ShinyBud Corp. is a multi-banner cannabis retailer with over 35 stores across Ontario – Canada's largest cannabis market. The Company is on a mission to help people never settle, live fully by offering a wide range of carefully curated cannabis products and by creating a more diverse and accessible cannabis experience for adult consumers. ShinyBud's board and management team has extensive retail operating experience, a key competitive differentiator in leading its growth strategy and franchising program. ShinyBud trades on the TSX Venture Exchange (TSXV) under the ticker symbol SNYB. For more information, please visit investors.shinybud.com.
SOURCE ShinyBud Corp.
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